Climate Change Data

Environmental Metrics

ESG Focus Areas

• Sustainability
• Stakeholder Relations
• Ethical Values
• Risk Management
• Board Effectiveness

Social Achievements

• Provided training and information concerning anti-bribery and workplace safety to its employees.
• Committed to providing a safe and secure environment for its employees.

Governance Achievements

• Established a Nomination Committee to oversee board appointments.
• Conducts annual board performance evaluations (though a formal modus operandi is under consideration).

Climate Goals & Targets

Environmental Challenges

• Being a young and small company, some governance structures and processes are still under development (e.g., formal ethical values description, board evaluation modus operandi).

Mitigation Strategies

• Formulating and making public a description of ethical values in 2019.
• Considering a formal modus operandi for board evaluation.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting Shanghai-based subsidiary, leading to production and delivery issues.
• Electronic component shortages.

Mitigation Strategies

• Increased production capacity by at least 100% mid-year 2023, planning to double capacity in 2024.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Sustainability

Social Achievements

• Improved employee well-being through navigating challenges of rapid growth and pandemic.

Governance Achievements

• Appointment of Gavin Manson as Non-Executive Director in February 2024, bringing broad experience as a CFO.

Climate Goals & Targets

Environmental Challenges

• Long sales cycles and protracted negotiations with clients.
• Potential for product and service failures.
• Reliance on suppliers for subcomponents.
• Concentration of revenue from a limited number of customers.
• Dependence on equity financing.
• Reliance on key personnel.
• Protecting proprietary technology through confidentiality agreements.

Mitigation Strategies

• Increased market presence and diversification of customer base.
• Implementation of quality control procedures.
• Focus on new OEM projects to broaden customer base.
• Successful capital raise in April 2024 to reduce reliance on equity financing.
• Attracting and retaining key personnel.
• Use of confidentiality agreements with employees, licensees, and contractors.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: QCA Code

Third-party Assurance: Gravita Audit Limited

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)

Products contribute to increasing the economic viability and sustainability of the renewable energy sector.

Sustainable Products & Innovation

• WindEye™ and WindTimizer LiDAR wind sensors
• Nexus software suite