Windar Photonics PLC (LON:WPHO) made significant progress in 2015, chief executive Martin Rambusch told investors in the company’s financial results for the twelve months to December 31.
For the year the technology company, which makes sensors for wind turbine, highlighted good progress in European and North American markets. A US$900,000 order from a US utility marked the launch a new turbine control system.
It also noted significant progress on new product lines and new product developments.
"In 2015, Windar made significant process in increasing its global brand recognition with wind turbine manufacturers and wind park operators,” Rambusch said.
“The company is now looking to build upon its proven technology and pipeline of opportunities and is pleased with the progress made already in 2016.
“The board remains confident for 2016 and for the future."
Last month, in a share placing Windar raised £1mln which was earmarked to help the company to fully capitalise on the traction it is encountering in its target markets for its WindEYE™ LiDAR technology. And it arranged a €1.5 million factoring facility with Nordea Bank Denmark.
In 2016 so far, the company secured orders from two large scale utilities in North America, and landed a 15 unit order from a customer in China.
The growth company reported revenue of €945,905 for 2015 and a €3.78mln loss for the year. At the end of the year it had €593,907 of cash and equivalents.