Sabien helps leading UK bank reduce energy spend by over 20%
Sabien Technology Group plc ("Sabien"), the owner of M2G, an energy saving software product that is proven to reduce fuel consumption and carbon emissions, is pleased to announce a further contract win with a leading UK bank worth £420,000.
In the trading update issued on 1st June, the Board advised that the Company's main client was scheduling a further roll-out of M2G units over the next 12 months. It is pleased to be able to report that the client has now issued the Company with an order worth £420,000 as part of this roll-out process. This is yet again a further endorsement of the unique carbon and money saving qualities of the M2G unit.
Alan O'Brien, CEO of Sabien said: "In the earlier phases of the M2G installations, our client has already seen savings of over 20% on its energy bills with a reduction of 3,835 tons in CO2 emissions and a payback of 54 weeks. Our technology is proven to reduce energy consumption allowing businesses to see that we can clearly deliver on their investment. The endorsement given by our client's continued purchase of M2G serves to validate our business strategy of providing a solution that not only delivers on carbon reduction but also on cost savings for our clients."
Additionally, the strategic initiative to target multi-site commercial organisations also referred to on 1st June is progressing well and the Board is very encouraged by early feedback.
Finally, the Board of Sabien is very pleased with recent progress and looks forward to the remainder of 2007 with considerable optimism