HTT wins multi heat exchanger contract

2nd September 2014

CORAC GROUP PLC

("Corac" or the "Group")

Hunt Thermal Technologies wins multi heat exchanger contract

Corac, a group of innovative gas, air and energy technologies businesses, is pleased to announce that its subsidiary Hunt Thermal Technologies Ltd. (HTT) has received an order worth circa £0.9m from an international engineering, procurement and construction (EPC) firm for six high-integrity heat exchanger units.

This project will deliver replacement exchangers to a UK downstream facility in early 2015 as part of a five year improvement programme on the site in preparation for increased oil production from the West of Shetland area.

HTT have a reputation for applying the highest engineering standards to safety critical systems. This was a key factor in this project as the most up-to-date standards will be applied by HTT to legacy designs whilst retaining the original parameters and performance.

This order is part of a successful sales campaign by the HTT leadership which has secured more than £1.8m in new orders since the half year ended on June 30, including from an energy-from-waste application and an energy generation project.

Corac Group Chief Executive Phil Cartmell commented:

"This order is testament to the strength of HTT's business and rewards the hard work undertaken to create a UK centred competitive advantage in safety-critical systems. HTT combines industry leading engineering standards with efficient fabrication and production and is now delivering the growth that we knew was possible.

 "The recent number of new orders provides us with great confidence for the rest of this year and a springboard for further success in 2015."

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NOTES TO EDITORS

Corac is a group of innovative UK based engineering companies, active in energy and environmental technologies. Group companies produce valuable solutions in compression systems, atmosphere management and heat exchangers for government, energy and industrial users. Corac Group shares have been traded on the London Alternative Investment Market (AIM) since July 2001.