New Contracts - Traction in Broader Energy Sector

New Contracts - Traction in Broader Energy

Synectics Enters Renewables Market with Contracts for Industrial Carbon Capture and Offshore Wind Projects

Synectics plc (AIM: SNX), a leader in advanced security and surveillance solutions, announces it has secured its first contracts in the renewables and decarbonisation markets, marking an important milestone in the Company's strategic diversification into the broader energy market. The contracts, scheduled for delivery in FY2025 and FY2026, include projects in both industrial carbon capture and offshore wind energy.

The first contract, valued at £1.2 million, is for the supply of advanced surveillance solutions to a carbon capture, transport and storage project being developed as part of a full-chain hydrogen and carbon capture industrial decarbonisation initiative in the North-West of England (the "Project"). The Project will capture CO₂ emissions from existing industrial facilities alongside new-build hydrogen generation facilities and aims to transform the region into the world's first low-carbon industrial cluster by 2030.

Under this contract, Synectics will deliver its COEX™ cameras and its proprietary Synergy software, integrated with a range of complementary security technologies. These include radar systems for long-range detection of unauthorised objects on waterways, as well as access control and perimeter intrusion detection solutions.

In addition, Synectics has been awarded a contract to supply its COEX™ camera range for an offshore wind project in the Dutch and German sectors of the North Sea. The COEX™ cameras will be installed across the first of the offshore substation platforms, providing continuous monitoring of critical areas and operational activities essential for ensuring safety and security.

These substations form a key part of a flagship renewables project in the Netherlands, designed to harness offshore wind energy and facilitate the efficient transmission of clean power from offshore wind farms to onshore substations, supporting energy transition and the growing demand for sustainable energy solutions.

Amanda Larnder, Synectics' Chief Executive Officer, commented:

"We are delighted to have secured these initial contracts in the renewables and decarbonisation markets, marking important progress in delivering on our strategy to expand into the broader energy sector.

"Our tailored surveillance solutions will provide advanced functionality to support these pioneering projects and play a role in the transition to renewable energy. These wins underline Synectics' proven expertise in delivering reliable, integrated systems for mission-critical environments and our commitment to supporting customers operating in some of the world's most demanding industries."