By Michael Susin
FireAngel Safety Technology Group PLC said Monday that it has agreed with Techem Energy Services GmbH to advance for a phase two development of a smoke alarm designed for the German market.
The U.K. supplier of home-safety products said it will provide a sensor to the new device and currently expects that the development period will last until the end of 2024.
Sales are expected to start in the second half of 2024, it added.
It said that the initial sales forecast is of around 7 million units, and FireAngel expects to earn more than 5 euros ($5.49) a product.
"The goal of the commercial arrangements is that they are cash neutral to FireAngel, prior to the sales phase becoming materially cash positive in 2025," it said.
Write to Michael Susin at michael.susin@wsj.com
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