Energy Technologies Limited (ASX: EGY) Secures First Tender
Contract Award and Tender Overview
Energy Technologies Limited (ASX: EGY) has secured its first cable supply contract following a revised business plan. The company won this initial bid worth $860,000 for low voltage signalling cable as part of a larger infrastructure project in New South Wales, collaborating with a major European transport solutions provider. This contract forms part of a $4.2 million tender submitted by EGY.
The company is actively engaged in submitting tenders, averaging two per month. As of the end of October 2024, EGY had a live tender book covering eight packages, with a gross value of approximately $34.6 million. Seven of these tenders have closed, and EGY awaits decisions on its participation.
Executive Comments
EGY Acting CEO, Nick Cousins, remarked, “The successful awarding of the project package, coupled with the growing value of the live tender book, is a strong affirmation of the Board’s commitment to the revised business plan.” He further emphasized that the collaboration across various divisions enhances the company’s competitive edge, enabling it to tap into a larger addressable market.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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