LONDON (ShareCast) - (Sharecast News) - Windar Photonics on Thursday signed a global distribution agreement with wind turbine manufacturer Vestas Wind Systems for the sale and promotion of Windar's 2-beam LiDAR system, which helps wind turbines face the best direction.
The AIM-traded company said the agreement concerning its technology will grant Denmark's Vestas certain exclusive rights over the sales and marketing of the product.

Windar's 2-beam LiDAR system increases annual energy production by between 1% and 4% for the asset owner by ensuring that the wind turbine is always facing the optimal direction for harnessing the wind.

Mariel Garrido, head of fleet optimization at Vestas, said: "We have chosen to work with Windar Photonics' LiDAR technology primarily to cover our serviced multibrand fleet due to its ability to deliver a combination of value for money, proven performance, ease of installation and service and limited interference with the turbine."

Vestas is the largest maintenance provider in the wind industry, with a service network consisting of more than 10,000 people across 63 countries worldwide.

Jørgen Korsgaard Jensen, chief executive of the company, said: "Over the last year Windar has experienced a continually increasing market interest for our products and coupled with Vestas' global distribution capabilities, I am confident this agreement with Vestas can materially boost our global market presence within the retro-fit markets."

As of 1139 BST, Windar Photonics' shares were up 13.16% at 86.00p.

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