SMART WIRES RECEIVES ORDER OF $23 - 20 million dollars FROM ISA TRANSELCA FOR PROJECT IN COLOMBIA
September 10, 2021
Smart Wires Technology Ltd (“Smart Wires”) has received a Purchase Order from ISA Transelca for a grid expansion project in the Guajira – Cesar – Magdalena (GCM) region: FACTS devices to be installed in the Guajira – Santa Marta and Termocol (Bonda) – Santa Marta 220 kV circuits referenced in the Plan de Expansión de Referencia de Generación Transmisión 2020 – 2034 issued by the national planning agency (Unidad de Planeación Minero Energética) of the Energy and Mines Ministry in Colombia. The order will have a net revenue of approximately $23.3 – 20.0 million dollars and with energization date on Q3 2022.
Julie Andrews, CFO
Tel: +1 (901) 687-8314
This information is information that Smart Wires Technology Ltd is obliged to make public pursuant to the EU Market Abuse Regulation. The information in this press release has been made public through the agency of the responsible person set out above for publication at the time stated via the Company’s news distributor Cision at the publication of this press release.
ABOUT SMART WIRES TECHNOLOGY LTD.
Smart Wires conducts grid technology business that helps utilize, modernize, optimize and monetize grid capacity to meet the demands and opportunities of the energy transition. The Company operates in the global transmission grid technology market and is a leader in modular power flow control technology. Power flow control technology controls and directs power flow on high voltage electric transmission systems. Smart Wires serves transmission owners, primarily electric utilities. Transmission owners use power flow controllers to eliminate line overloads by redirecting power to other lines, to reduce transmission congestion, and to enable renewable energy connection and dispatch. Currently, Smart Wires’ main projects are located in Europe, the United States and Australia with upcoming projects in South America and Canada. The Company has a large customer base comprised of utilities globally. For more information, please visit www.smartwires.com.