Flowgroup has announced that it has entered into a Manufacturing Services Agreement with Jabil Circuit, a manufacturing solutions company, to manufacture up to 390,000 microCHP Flow boilers in the UK.
Jabil will also assist Flowgroup with the ongoing design of an economical and effective supply chain as well as logistics and other support for international expansion in due course
Flowgroup group chief executive Tony Stiff said: “We have been impressed with Jabil’s proposition and partnership approach.
“Their thorough due diligence and significant investment, via this agreement, in our business illustrates their confidence in our technology and our business plan.
“This is matched by our confidence that Jabil can help us achieve our target of building one of the UK’s largest energy services companies – and then exporting that success into international markets.
“We believe this is one of the most important steps we have yet taken and, as a company, we would like to express our deep satisfaction at the conclusion of this agreement.
“We are also delighted with the support shown by both our existing institutional shareholders and a number of new investors in relation to the oversubscribed fundraising.
“The very strong demand and the success of the fundraising will enable the company to carry out its business plan with plenty of headroom.”