LONDON, UK: FireAngel and Techem have signed two agreements for the production and delivery of the New Generation Smoke Alarm (NGSA), which is expected to be a highly cash generative initiative for the company.
The Delivery Contract will manufacture the NGSA, while the Production Framework and Supply Agreement will see the Manufacturing Partner assemble the NGSA.
Initial shipments are expected to commence in 2024, and volumes are expected to build up further in the first half of 2025, with the planned maximum annual throughput of up to 1.8 million alarms.
Techem will manage marketing, sales, and customer relationships, while FireAngel will oversee the production of the NGSA, its certification, and delivery into the market. The forecast for NGSA sales has increased to up to $53 million, and the minimum royalty fee of €3 million will be payable to FireAngel after delivery commences.
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