It's a little premature to call it a validation of the...

It's a little premature to call it a validation of the technology as per the following part of the announcement below.

'Initial contract for one year with an option to significantly extend both the term and number of client sites.'

If the term ends up being extended significantly along with the number of client sites 12 months down the track then that is the point when the technology will have been validated.

Today's announcement will mean squat longer term if 12 months later Thames Water walks away. This is effectively a trial to give it 12 months to see how well it works or doesn't work before making a firm commitment to the technology.

For the record I have been watching PEH for a while and will look to take a position in coming months because I really like what I see and 15c a share is a bargain long-term IMO.