21/12/2012
VPhase plc, (AIM:VPHA), a leading developer of energy saving products for residential and commercial properties, is pleased to announce that Group has today signed an agreement with Protech Energy Services (“Protech”), for the supply and installation of its VPhase VX1 product in France, Belgium, Luxemburg and French Overseas Departments and Territories.
Protech Energy Services is an established construction, heating and air conditioning supplier and installer based in Paris. Under the arrangement, which is for an initial period of three years (and then continuing unless terminated by either party), Protech agrees to purchase a minimum quantity of the VX1 product in each year of the agreement. The agreement anticipates achieving minimum volumes to a value of £3.8 million over the initial three year period. Failure by Protech to meet the minimum quantity in any year of the agreement would enable the Company to terminate the agreement.
Rick Smith, CEO of VPhase commented: “This is the Group’s third overseas agreement, which further highlights the applicability of voltage optimisation in a wide range of geographies.
“We look forward to announcing other agreements as they occur and updating the City on progress overseas at our usual reporting times.”