Infrastrata (INFA) finished a £210,209 fundraise in a PrimaryBid Offer and revealed that its recently acquired Harland & Wolff won its first revenue generating contract on Friday.
The AIM-listed firm said the contract was for docking of two vessels for owners to carry out annual inspections and maintenance.
The contract won by Infrastrata marks the first ever operating revenues for company which formally completed the acquisition of Harland & Wolff a day before on Thursday.
John Wood, Interim Chairman and CEO of the Company commented: "The award of this contract is a crucial milestone in the life-cycle of the Company.”
“The fact that the completion of the acquisition of the assets of Harland and Wolff was immediately followed by a revenue generating contract validates this acquisition.”
Shares in InfraStrata were trading 1.69% higher on Friday
Mr. Wood told investors: “This is the beginning of a transformational shift in the Company's position to being revenue generative and ultimately cash-positive in the future."
Infrastrata plans to undertake the fabrication work in Belfast for the Islandmagee project, and use the assets of Harland & Wolff to generate secondary revenue streams.
Founded in 1861, Harland & Wolff was once the focal point of Belfast's industry, famed for building the Titanic and the iconic cranes, Samson and Goliath.
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