9th Oct 2019 08:56
(Alliance News) - Pressure Technologies PLC on Wednesday said its subsidiary has secured a contract - worth in excess of GBP3 million - to supply nitrogen storage solutions to EDF Energy.
The stock was 12% higher in London in morning trade at 109.00 pence a share.
Pressure Tech said Sheffield-based gas storage solutions supplier Chesterfield Special Cylinders Ltd signed a deal for EDF's UK nuclear power plants at Heysham, Torness and Hartlepool.
The AIM-listed engineering company said this design and supply contract comprises high pressure cylinders manufactured at Chesterfield's Sheffield facility, in an innovative series of nitrogen storage packages to meet EDF's operational requirements.
The modular design is seismically qualified to allow ease of installation at EDF's sites. The cylinder packages will be supplied to EDF by mid-2020, Pressure Tech noted.
"This contract represents the largest order in Chesterfield's history outside of the defence sector and is extremely important for the Chesterfield team and for the Pressure Technologies," said Chief Executive Chris Walters.
"Through the provision of these safety-critical systems, we are delighted to be supporting EDF Energy's existing and continued commitment to supply safe, low-carbon electricity to UK homes," added Walters.
By Evelina Grecenko; [email protected]
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