FireAngel Safety Technology Group plc
('FireAngel' or the 'Company')
Second Development Milestone
Further to its announcement on 28 March 2022, FireAngel (AIM: FA.), a leading developer and supplier of home safety products, is pleased to announce that it has successfully delivered the second development milestone of its agreement with Techem Energy Services GmbH (“Techem”) in connection with the new generation smoke alarm (“NGSA”) being developed primarily for the German market.
The second contractual NGSA development milestone, which was delivered ahead of schedule and within budget, sees the delivery of a development board (known as an Analogue Front End Board) specifically related to the control of the analogue sensing circuits, such as smoke sensing. This forms a critical element of the design of the NGSA and allows for significant technical de-risking.
As a result, development phase two (DP2) of the Company's development agreement with Techem is already over 20 per cent. complete (up from 10 per cent. as at 28 March 2022) on a planned man-days basis.
John Conoley, Executive Chairman of FireAngel, commented:
“This transformational partnership with Techem is of long-term value and has great significance for FireAngel and its stakeholders. This opportunity has crystallised further with the successful delivery of the second milestone following the formal signing of DP2.
Techem has proved to be a committed and reliable partner and we look forward to our shared success in the future.”