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Heat Wayv Sales Update

19 Apr 2023

Heat Wayv Sales Update: New Partnership, Initial Orders and Securing Early Orders

Delighted to announce we have agreed and are working to formalise a partnership with a US based installer of heating solutions.


This is great news for us, and while it will take some time to finalise the total volumes they will require across a number of projects they are working on, we are so excited to be working with them and wanted to share this wonderful news with our keen Heat Wayv followers.

 

Last year this US based heating engineering firm installed in excess of 20,000 boiler units in projects they completed, with this year looking to be equally as successful.

They are seeing year on year growth as their business model and approach to projects is being adopted by their ever-growing portfolio of clients, seeing them become a true leader in their field.

 

This is a fantastic opportunity for us all here at Heat Wayv.

Initially we are looking at an order volume anticipated to be in the region of 8,000 units, with them all being installed in the United States, and as more projects arise we hope to be their supplier of choice for the majority of their installations.

 

 

Forward Looking Statement

 

This order is fantastic and is in addition to the assumed launch volumes we have been working towards.

 

Alongside this order we already have confirmed commitment volumes of 4,800 units, these are confirmations from three of our trial group members for orders that will follow a successful trial for that client.

However, following further conversations with these three clients, by the time they will need them and with recent legislative push, we do anticipate this volume to grow to over 19,000 units and on a per annum basis.

 

These initial commitments together with verbal confirmations from our other trial clients, who will look to place orders following trials, raises our anticipated initial volumes to be closer to 108,000 units per annum.

 

We are so pleased with the early engagement we have seen and are looking forward to successfully upon all these orders for all of these customers.


Securing Order Volumes Early


We are aware that some of our stakeholders in Scotland who are facing the transition to net zero legislation coming into force very soon.

 

To help support this, and in light of the high demand we are seeing across the board for our units, we have started a process with some clients that will help secure, a no obligation to buy, volume of units.

At their request, this process will allow the customer to reserve a volume against a simple Letter of Intent. There is no obligation to purchase at this time or requirement for any deposits.

This process is simply in place so we can assist them in reserving a volume that is realistic to their demand but enables them to get supply should they want it, with the peace of mind knowing they wont have to join the back of line.

Whilst we are working with some clients to help them secure a formal purchase order, a simple Letter of Intent will help secure the volumes they think they may require.

 

As an example, we are working with one house builder who wants to ensure they get a volume of products to replace the Gas boilers they currently install. The Heat Wayv one is a simple on paper replacement, allowing them to still purchase all other heating components.

They currently install around 2,000 boilers a year, but want to secure two years volume, they will be issuing us a simple Letter of Intent to purchase up to 4,000 units, to be called off as and when they require them, no earlier than our current anticipated shipping date but if not called off or installed by July 2028, the remaining volume of products will be reallocated to another client.


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