High flying Ubisense, the Cambridge location solutions company, has made a significant entry into the energy market with two significant contracts.

This follows its success with partner, PA Consulting Group, in winning a contract with a large energy utility in Washington State.

Energy is one of a number of new markets the UK company has identified to underpin further global growth.

CEO Richard Green emphasised today in a trading update the remarkable progress the company had made in 2011 – reiterating his upbeat exclusive interview with Business Weekly last Thursday when we revealed that headcount would rise 50 per cent this year and that the company was planning acquisitions.

Green confirmed in today’s trading update that the company had healthy net cash of £5m.

He told the markets today: “2011 was a tremendous year in our history, with the listing on AIM, two geospatial acquisitions and further endorsement of our Real Time Location Solutions by new customers such as Eurocopter, Daimler and Paccar. We have also entered into a global licence agreement with both BMW and EADS during the year.

“We continue to gain momentum in the automotive and aerospace sectors and have also secured significant contract wins in the energy sector in the second half of the year, both for our Real-Time Location and geospatial solutions.

“We start 2012 with a record order book and expect 2012 to be another strong year for Ubisense.”

The good momentum in the business achieved in the first half of the year has been maintained in the second half. Ubisense anticipates reporting annual revenue growth and adjusted EBITDA in line with the board’s expectations.

Ubisense completed two acquisitions in the second half of 2011. Both have been fully integrated and are performing in line with expectations and, as we reported last week, Ubisense continues to evaluate further acquisition opportunities.

The company expects to publish its final results for the full year to December 31 on Tuesday March 6.

• PHOTOGRAPH SHOWS: Richard Green