- Sabien Technology has conditionally placed with institutional and other investors 18.75m new shares at 4p each to raise £750,000.

Funds raised from the placing will provide Sabien with the capital necessary to continue with its growth strategy for up to 40 M2G pilot projects for the Company's target client base in FY2017 (vs 35 in FY2016).

The funds received in the placing will be used to finance pilots of M2G, our boiler load optimisation control and initial pilots of EndoTherm, an energy reduction commercial heating additive, whilst ensuring that a prudent net cash position is maintained.

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