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Hayward Tyler Group lands new contracts worth £2.1mln

"We are delighted to be announcing these new contract wins which confirm that momentum is continuing to build throughout HTG,” said chief executive Ewan Lloyd-Baker.

Hayward Tyler Group PLC (LON:HAYT) has revealed new contract wins with ‘key customers’ worth £2.1mln.

The AIM quoted group’s Peter Brotherhood is to provide a 9 megawatt steam turbine for a project under construction in the UK that is set to become the world’s largest biomass power station. The contract is worth £1.5mln and is due for delivery in 2019.

Another deal sees the group supply the Dongfang Boiler Group with boiler circulating pumps for its new Tian Ming power plant in Sichuan Province, China. This contract is worth around £600,000.

"We are delighted to be announcing these new contract wins which confirm that momentum is continuing to build throughout HTG,” said chief executive Ewan Lloyd-Baker.

“We are proud to be supplying our performance-critical products to these projects, to both new and returning customers, and it remains integral to our international growth strategy as we service a broadening end-market.”

The company also noted progress in terms of its research and development activities.

Hayward Tyler highlighted that its strategic alliance with FSubsea has moved to full-scale prototype development for what is aiming to be the world's most autonomous boosting system. The prototype is due to be tested offshore.

Also, the group’s work with the University of Edinburgh, to develop a generator to harness wave energy, is also seeing prototype progress. The partnership has secured £2.5mln funding via Wave Energy Scotland and the cash will be used to produce the first units and for offshore testing.

“Our work with both FSubsea and with the University of Edinburgh demonstrate our ability to work in partnership with some of the work's finest engineers to deliver technological advances that are likely to have very tangible benefits to their respective sectors," Lloyd-Baker added.

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