TP Group (AIM:TPG) has been awarded Green Economy Mark in recognition for its work in the renewables sector by the LSE, the first exchange in the world to grant the certification.
The Green Economy Mark allows greater visibility for investors interested in green activities while recognising companies contributing to a greener and more sustainable economy.
The mission-critical solution provider said it had been awarded the Green Economy Mark most notably in relation to its hydrogen generation and storage and carbon capture systems.
“This award is a testament to our ability to help our clients reduce their environmental footprints and meet their sustainability targets,” said Phil Cartmell, CEO of TP Group.
Meanwhile, in a separate trading update, the group said it has ambitious plans and is working on technology solutions that it believes will carry the business forwards in the coming years.
It said the six month period ended 30 June 2020 said it had succesfully supported its customers' critical programmes “without significant interruption despite the COVID-19 pandemic,” as well as having secured several material contract wins, valued at almost £30 million in aggregate, for a range of consulting and critical systems projects.
Shares in TP Group were trading 1.38% higher at 7.35p on Thursday morning.
New contracts were won across the defence, space and energy sectors, key areas which the group operates within, and located in Europe, the Middle East and the Asia Pacific region.
The group has nurtured a strong pipeline of business opportunities, it said, including significant additional business under the European Space Agency support framework agreement, which it anticipates to be received early in the second half of the year.
The Board said that as operations steadily return to normal, it remains confident that TP Group is ‘well equipped to continue its robust performance in the second half of the year.’
“I am very encouraged by the resilience and commitment of our team as we've kept the business fully engaged with our customers, keeping a number of critical programmes on track,” said Phil Cartmell, CEO of TP Group.
TP Group continues to invest in technologies for value creation including work on hydrogen, oxygen and carbon dioxide solutions, as well as AI software targeted on a number of current industry issues. It added that it is currently pursuing corporate and acquisition opportunities.
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