IN BRIEF: Microsaic Systems "delighted" with sales progress
Microsaic Systems PLC - Surrey-based developer of real-time mass spectrometers - Says it has been advised that a phase two tender for 17 further (in addition to the 27 already installed) Continuous Toxic Monitoring systems is expected after full commissioning and handover to Kahramaa, the client public water utility in Qatar. To comply with this timeline and project funding release by Kahramaa the company agrees a modified payment schedule with installation partner Avanceon. A sum of EUR87,000 has been received from Avanceon as part payment of the first tranche invoice of EUR228,000 for phase one project installation. The remaining balance is to be paid after consumable items for the existing CTMs are installed. After installation the second tranche payment of EUR228,000 for completion of phase one of the project will be due in the first quarter of 2025. The phase one contract value is EUR456,000 in two tranches of EUR228,000. Read More