Windar Photonics - Technology deployments intensifying
FY17 was a pivotal year for Windar. An order for 300 units towards the year-end helped drive a doubling in revenues and suggests that the wind turbine industry is beginning to adopt its wind measurement technology. We leave our estimates and indicative valuation of 125p/share broadly unchanged, noting the potential for a substantial rise in indicative valuation once management is able to announce that the technology has been designed-in by turbine manufacturers, which is a key catalyst for volume deployment.Windar Photonics is a technology group that has developed and sells a Light Detection and Ranging sensors (LIDAR) and associated products for use on electricity generating wind turbines. LIDAR wind sensors in general are designed to remotely measure wind speed and direction. Co.'s main products are the WindEye™ and WindVision™ Sensors which measure the wind speed at different measuring points by scanning a laser beam ahead of the wind turbine.
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