Strat Aero PLC Wins UK Environment Agency Contract Worth £2.5M (2470J)
September 08 2016 - 2:00AM
UK Regulatory
TIDMAERO
RNS Number : 2470J
Strat Aero PLC
08 September 2016
Strat Aero plc / Index: AIM / TIDM: AERO / Sector: Support
Services
8 September 2016
Strat Aero plc ("Strat Aero", the "Company" or the "Group")
Wins UK Environment Agency Contract Worth Up To
GBP2.5million
Strat Aero plc, an international aerospace company focused on
the rapidly emerging Unmanned Aerial Vehicle ("UAV") sector, is
pleased to announce that its wholly-owned subsidiary, Geocurve, has
been awarded a further contract to provide aerial inspection and
level survey services for the Environment Agency's Thames Estuary
Asset Management 2100 (TEAM2100) programme.
The contract was awarded after a rigorous competitive tender
process and follows the successful completion of the Isle of Grain
survey project where Geocurve combined multiple UAV flights,
land-based surveys and bathymetric surveys to deliver a suite of
video, orthomosaic photo, 3D model and survey products. Depending
on contract options and call-off timing, the TEAM2100 programme
could deliver in the region of GBP1m in revenue to Strat Aero over
the next 18 months, and GBP2.5m over the duration of the whole
programme.
TEAM2100 is delivering the first 10 years of capital investment
in the tidal flood defences of the Thames Estuary as recommended by
the TE2100 Plan. TEAM2100 aims to reduce the risk of tidal flooding
to 1.25 million people and GBP200 billion worth of property by
replacing and refurbishing the tidal flood defences. TEAM2100,
which was established in 2014, is an integrated and co-located team
comprising the Environment Agency, global engineering company CH2M,
and key supply chain partners. The GBP300million programme covers
the tidal flood defences of the Thames estuary between Teddington
in the west, Shoeburyness in Essex, and the Isle of Grain in
Kent.
Iain McLure, CEO of Strat Aero plc, said "I am delighted that we
have been selected to continue our successful aerial and land
survey work for the Environment Agency's TEAM2100 programme. To be
chosen for such an important role in protecting the UK's capital
city is an enormous honour and one which reflects our growing
reputation as the UAV topographic and hydrographic surveying,
inspection and engineering services provider of choice."
- ENDS -
For further information please visit www.strat-aero.com or
contact:
Strat Aero plc Tel: +44 (0) 1293 804741
Graham Peck (Chairman)
SP Angel Corporate Finance LLP Tel: +44 (0) 20 3470
0470
Nominated Adviser and Joint
Broker
Stuart Gledhill
Jeff Keating
Beaufort Securities Limited Tel: +44 (0) 20 7382
8300
Joint Broker
Elliot Hance
Cornhill Capital Ltd
Joint Broker
Colin Rowbury Tel: +44 (0) 20 7710
9610
St Brides Partners Ltd Tel: +44 (0) 20 7236
1177
Financial PR
Frank Buhagiar
Susie Geliher
Notes
Strat Aero plc is a multi-divisional international aerospace
services company, focussed primarily on the provision of complete
client solutions in the Unmanned Aerial System ('UAS' market),
which is predicted to show exponential growth over the coming
decade. Commercial and military applications in UASs are expected
to be a dynamic growth sector in the aerospace industry over the
next 10 years with the UAS market forecast to grow to more than
US$82.1 billion between 2015 and 2025 (AUVSI Economic Report 2013)
and the global airborne Intelligence, Surveillance and
Reconnaissance ('ISR') market estimated to grow to US$19.23 billion
by 2023.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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