FireAngel inks expanded three-year deal with British Gas

The AIM-traded company said the contract was valued at an estimated £6m over the course of its three-year term.

It said the new agreement built on its previous 10-year relationship with BGSL.

The previous deal was based on a limited range of products, and the contract was extended annually.

FireAngel said the new contract would expand the range of products supplied to include a wider range of smoke, heat, and carbon monoxide battery- and mains-powered alarms.

Additionally, FireAngel's connected products for residential use were included in the contract.

The products would be supplied through various BGSL supply, service, and cover packages including British Gas Services and Solutions, and HomeCare.

“We are delighted to build on our ongoing valuable relationship with British Gas, expanding our portfolio of products through BGSL,” said executive chairman John Conoley.

“This expansion of our existing partnership signifies further progress against our strategy to migrate to higher value activities and commercialise our investment in connected technology.”

FireAngel said it would announce its final results for the year ended 31 December in late April.

At 1503 BST, shares in FireAngel Safety Technology Group were up 3.9% at 10p.

Reporting by Josh White for Sharecast.com.