Solid State PLC £4.3m Smart Warehouse Power Units Contracts (8589Q)
June 11 2018 - 2:00AM
UK Regulatory
TIDMSOLI
RNS Number : 8589Q
Solid State PLC
11 June 2018
Solid State plc
("Solid State", the "Group" or the "Company")
GBP4.3m robotics power unit contracts
with a major UK technology smart warehouse solutions provider
and robotics manufacturer
Solid State plc (AIM: SOLI), the AIM listed manufacturer of
computing, power and communications products, and value added
distributor of electronic components, is pleased to announce it has
received orders to supply power units for autonomous robots
operating in cold climate conditions with a combined value of
GBP4.3m.
Solid State was commissioned to design and supply the bespoke
power units for the end customer's smart warehouses based on its
knowledge of harsh environment applications for battery power
solutions developed over 20 years. Working closely with the end
customer and the robot manufacturer, Solid State was able to
satisfy the design and durability specifications to deliver a
product that will stand the demands of the modern 24/7 fast moving
consumer goods fulfilment cycle. The power units have been designed
and will be supplied from Solid State's centre of excellence for
batteries established at their Power business unit in Crewkerne,
Somerset.
The smart warehousing model is considered by many to be the
solution in addressing the increasing demand for online and home
delivery based shopping. Through the use of autonomous robots, a
round the clock fulfilment function can be maintained, shortening
delivery cycles and reducing cost in the retail supply chain.
Deliveries of the power units are expected to commence during
the second half of the fiscal year 2018/2019, contributing to the
current financial year and will continue into the next financial
year. The contract will deliver additional recurring revenues
through the supply of replacement cells in subsequent years as part
of a support and maintenance agreement.
Commenting on the contract, Gary Marsh, Chief Executive at Solid
State, said:
"This contract establishes Solid State as a leading innovator in
the fast-evolving distribution and fulfilment technology
market.
"Solid State's in-depth knowledge of battery chemistries and
harsh environment characteristics give it a unique position for
partnering with customers as an embedded solutions developer. Our
intention is to develop a longer term collaboration with this
customer."
Notice of Results and Investor Lunch:
Final results for the 12 months ended 31 March 2018 are expected
to be released on 3 July 2018.
An investor lunch for Private Client Investment Managers and
Private Investors will be held on Monday 9 July at St Pauls,
London. Those interested in attending should contact Tom Cooper on
0797 122 1972 or tom.cooper@walbrookpr.com.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information please contact:
Solid State plc 01527 830 630
Gary Marsh - Chief Executive investor.information@solidstateplc.com
Peter James - Group Finance Director
WH Ireland (Nominated Adviser & Joint
Broker) 0117 945 3470
Mike Coe / Ed Allsopp (Corporate Finance)
Jasper Berry / David Kilbourn (Corporate
Broking / Sales)
finnCap (Joint Broker)
Ed Frisby / Kate Bannatyne (Corporate
Finance)
Emily Morris / Rhys Williams (Corporate
Broking / Sales) 020 7220 0500
Walbrook PR (Financial PR) 020 7933 8780
Tom Cooper / Paul Vann 0797 122 1972
tom.cooper@walbrookpr.com
Notes to Editors:
Solid State plc (SOLI) is a leading value added group of
companies providing specialist design-in and manufacturing services
to those acquiring computing, power and communications products and
electronic component services for use in harsh environments.
Serving niche markets in oil & gas production, medical,
construction, security, military and field maintenance, Solid State
acts as both a component supplier to OEMs and bespoke manufacturer
of specialist units to clients with complex requirements.
Headquartered in Redditch, Solid State employs over 200 staff
across five sites. Solid State operates through two main divisions:
Solid State Supplies and Steatite.
Solid State was established in 1971 and admitted to AIM in June
1996.
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END
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