Sabien Technology scores contract with 'major' government department

Boiler technology outfit Sabien Technology has scored an £846,375 contract with an unnamed "major" government department.

Sabien will deploy its M2G Boiler Optimisation Technology, which measures the energy efficiency of the boiler, across parts of the department's estate.

The order also brought Sabien's total orders to date for the trading year ending 30 June to £1.14m - a marked improvement on the £478,709 tally at the same time last year.

The AIM-listed firm told investors on Tuesday that all sales revenue from the new deal would be realised in the current financial year.

Chief executive Alan O'Brien said: "This is a key contract award for Sabien and is another illustration of the success we can achieve in the public sector.

"This is an excellent demonstration of the quality of our M2G boiler control, scale of installation expertise and the project management that Sabien can bring to a contract of this type, applying skills gathered from previous large-scale client M2G roll out programmes."

As of 1040 GMT, Sabien shares had shot up 50.25% to 0.12p.