New Contract Signed

Haydale (AIM: HAYD), the advanced materials and clean-technology group, provides a commercial update on the expansion of its SaveMoneyCutCarbon ("SMCC") platform through a multi-year framework agreement and exclusivity arrangement with Wave Utilities ("Wave") (the "Agreement").

Wave is the largest business water retailer in England by water volume, serving over 300,000 business customers. It is a joint venture between Anglian Water and Northumbrian Water.

This Agreement reflects the continued growth of SMCC's water efficiency business unit, materially increasing the scale, visibility and repeatability of revenue generation within the SMCC platform.

Contract expansion and exclusivity

The existing partnership is anchored by a three-year schools programme, which commenced in 2025. Delivery to date has validated both the commercial and operational model.

Through the new Agreement, SMCC and Wave have now agreed terms to expand the partnership, with SMCC delivering water efficiency programmes across Wave's commercial and public sector customer base.

As part of this Agreement, SMCC has been appointed as Wave's exclusive external delivery partner for water efficiency audits and has secured right of first refusal on the delivery of funded water efficiency projects, embedding SMCC within Wave's national rollout.

The Agreement is expected to generate at least £1.0m of recurring programme-based revenue annually, with a broader pipeline of identified opportunities currently valued at approximately £5.7m over the medium term.

The programme is structured to drive high conversion from audit to deployment, underpinning revenue visibility and repeatable delivery across Wave's customer base.

In addition, the partnership provides SMCC with direct access to a large base of commercial and public sector sites, creating opportunities to deliver a broader range of energy-efficiency solutions, including JustHeat, renewables and EV infrastructure.

From Contract to Platform

The Wave Agreement is a representative example of SMCC's Impact Partner model, whereby long-term agreements with utilities and financial institutions provide embedded access to large, pre-qualified customer bases.

This model is repeatable across multiple partners, with each new agreement adding incremental customer access, programme volume and revenue visibility.

The Company believes that, as this model scales, it has the potential to support multi-partner programme deployment across tens of thousands of sites, creating a pathway to material revenue growth across the SMCC platform.

Strategic Importance

Water efficiency is an increasingly important component of the SMCC platform, reflecting its role in reducing both cost and carbon across commercial and public sector estates.

The expansion of the Wave partnership demonstrates the continued evolution of SMCC into a programme delivery platform for large-scale retrofit and resource efficiency initiatives. These programmes are expected to convert into recurring, programme-based revenues as deployment scales.

The combination of Wave's large and established customer base, committed water reduction targets and programme-based delivery approach provides a strong foundation for sustained growth within the water-efficiency segment.

The Company expects this Agreement to contribute materially to the continued growth of the SMCC platform expected during FY26 and beyond. It also represents a continued shift towards recurring, multi-year revenue relationships underpinned by long-term customer engagement and programme delivery.

The Company believes this model is repeatable across additional partners and sectors, supporting its strategy of improving the energy, water and carbon performance of one million buildings.

Simon Turek, CEO of Haydale, commented:

"The expansion of our partnership with Wave demonstrates the SMCC platform scaling into multi-year, programme-led delivery with clear revenue visibility.

Wave provides both the scale and the structure to deploy solutions across thousands of sites in a repeatable way, with programmes extending beyond initial audit into ongoing project delivery and broader energy and carbon solutions.

This creates a clear pathway from customer access through to programme delivery and long-term revenue generation.

This is the model that drives repeatable revenue at scale."

Mark Sait, CEO of SaveMoneyCutCarbon, commented:

"The expansion of our relationship with Wave reflects the success of the model we have built.

We are now deploying water efficiency solutions at scale across multiple sectors, with clear pathways from initial engagement through to full programme rollout.

Water efficiency is often overlooked, yet it represents one of the most immediate and cost-effective ways for organisations to reduce both their environmental impact and operating costs.

By integrating water, energy and carbon solutions into a single offering, we are able to provide customers with a more joined-up and practical approach to improving the performance of their buildings.

Through the expanded Agreement, we are able to support more customers, across more sites, with practical solutions that deliver measurable savings while building long-term relationships that underpin recurring programme activity."

Oli Shelley, Director of Water Efficiency Services at Wave, commented:

"We are pleased to be extending our partnership with SaveMoneyCutCarbon as we scale delivery of the Big Blue Eco Booster project nationally.

Supporting customers to reduce water consumption is central to our long-term sustainability commitments. By working with SMCC, we are able to combine practical on-site delivery with expert insight, helping organisations to reduce waste, lower costs and contribute to broader environmental targets.

This expanded agreement enables us to accelerate that impact across a larger number of sites and customer groups."