Windar Photonics chairman steps down, announces new order

AIM-listed technology group Windar Photonics said on Friday that John P. Weston has stepped down from the position of chairman with immediate effect, as it announced that it has received an order for 5 WindVision LiDAR systems from an existing Chinese distribution partner for delivery as soon as possible.

Weston will be succeeded by current board member Johan Blach Petersen, who will take up the position of interim chairman of the board with immediate effect.

As far the order is concerned, the company said the end customers are two wind turbine original equipment manufacturer utilising the WindVision LiDAR systems for general turbine optimisation purposes for new turbine designs. In general the integration of the LiDAR systems enables the wind turbine to optimise the annually generated power while reducing the general turbine load whereby the life span of the wind turbine can be enhanced.

Chief executive Jørgen Korsgaard said: "Windar has enjoyed a very strong order intake during the final part of 2017 ensuring a strong order backlog going into the new year. Even though this new order in itself is still minor, it underlines the ever-increasing interest in our product range from wind turbine OEMs not least supported by our new features like wake and turbulence detection and still at a very attractive price point. Here at the end of the year I am very pleased to see our ongoing OEM projects for integration on new turbines designs at a record high level creating the foundation for a future strong growth.

“I am also pleased to confirm that the initial 50 WindEye LiDAR Systems, from the order of 300 announced on 4 December 2017 have all been shipped to our client in China. I would like to thank all of our staff for their superb effort in making this happen on time."

At 0925 GMT, the shares were up 16% to 99.50p.