Sabien Technology

Sabien, a profitable venture with commercial rights to a system that helps slash energy consumption in commercial and industrial boilers by up to 35%, has joined AIM following a £4m funding.

The rationale behind the Bell Lawrie-led fundraising, entailing a £3.2m placing at 52p and an £800,000 issue of loan notes, is to further develop the product, scale up UK operations and carry out a European assault.

Known as M2G, the product helps commercial clients save up to 35% on energy consumption by making their boilers more efficient. In the current soaring energy cost environment, it is proving a compelling sell. There is also a green angle, with the Carbon Trust-approved system playing a part in reducing carbon emissions. Chief executive Alan O’Brien is targeting ‘high-usage’ commercial and industrial organisations that use gas and oil-fired boilers, and he claims the product is installable within 90 minutes per boiler once on site with zero disruption to boiler operations.

‘Payback within six to 24 months’ is another plus, and he has high hopes for M2G given that companies are increasingly looking to cut fuel bill costs and become more environmentally friendly. Sabien markets directly to customers as well as to the facilities management firms that service their boilers.

Naturally tight-lipped on achievable margins and customer names, with ‘negotiations on a number of deals’ under way, O’Brien says current customers include an NHS Trust, ‘a range’ of blue-chips and a major high street bank. Until some results are issued, we are unable to recommend the shares, although this looks an intriguing tale. Watch this space.