25th Apr 2016 08:06
LONDON (Alliance News) - Energy services and technologies company Flowgroup PLC on Monday said its Flow Products heating and microgeneration unit has signed a letter of intent to trial the Flow boiler in Italy.
Flowgroup said the agreement has been signed with Italian heating company Trillary Srl.
The pair will conduct trials of Flowgroup's microCHP boiler, evaluate Flow Products' digital in-home sales and management platform, and develop a distribution deal for the Italian market.
No financial details on the agreement were disclosed.
"We believe this letter of intent demonstrates the attractiveness of our microCHP technology platform for European partners and also our sales model, where we provide ground-breaking products directly to installer networks, cutting out the wholesalers who can stand in the way of new product introduction, and the digital technology to maximise sales," said Flowgroup Chief Executive Tony Stiff.
Flowgroup shares were up 4.7% to 22.50 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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