• Over half-a million Aerofoil sales in 2019
• Aerofoils now in five of largest UK food retailers
• Aerofoils awarded 2019 ‘Refrigeration Product of the Year’
• Established our own testing laboratory to replicate real-world store conditions
• Net assets of over £4m and debt-free
• Continuing strong operating cashflow
Tesco and M&S joined the list of UK grocers adopting Aerofoils
Early in the year, we completed the final phase of the Sainsbury’s roll-out of Aerofoils and delivered materials for the supply-based contract with M&S. In Spring 2019, Tesco awarded us the contract to retro-fit Aerofoils across their estate, which we recently completed over three phases. We also supply Aerofoils to OEMs for installation on our clients’ new cabinets, which adds an increasingly important dimension to our overall business.
Our project pipeline is driven by trials in the UK and internationally
We continue to trial Aerofoils with UK retailers, but have also expanded our geographic reach to test the technology with grocers in North America, Europe, the Middle East, Asia and Australia. Advanced trials of Aerofoils with a large global retailer is showing encouraging results both in terms of energy savings and reduced product shrink (i.e. need to discount or dispose of product prematurely).
Our own laboratory facility is helping to accelerate technology development
In August 2019 we established our own testing facility at Williams Advanced Engineering. This gives us more flexibility in our Vortex technology development programme, because we can fabricate and modify components on site and run energy-monitoring tests on a much faster timescale. It also allows for a seamless transition from the virtual world of CFD (computational fluid dynamics) models to testing in our real-world environment mimicking typical store conditions.
In 2019 we bolstered our operational capacity with new staff
Our operational team now includes additional project management and administrative capabilities, to help us deliver on current and future manufacturing and installation logistics, domestically and overseas. More recently, we recruited a Product Design Engineer, which will give us in-house CAD (computer-aided design) capacity and engineering solutions for the broad range of cabinet types that we are now trialling for Aerofoil and Vortex technology. Our profitability has enabled us to grow our staff resource to a level that will support our business development and operations going forward.
Despite the challenges presented by Coronavirus, 2020 has seen encouraging progress with prospective new clients
Our project management and installation teams adapted quickly to the demanding conditions of working in a Covid-compliant store environment. With their expertise, Aerofoils are now installed in over 4,000 stores globally. We have succeeded in building a reputation as a reliable and trusted partner, and the breadth and depth of our existing and prospective client base provides an excellent spring-board for our continued growth and profitability.