At Transense Technologies plc (LON:TRT) Annual General Meeting (“AGM”) being held at 12.00 p.m. today at finnCap’s offices, 60 New Broad Street, London, EC2M 1JJ, the Chairman, David Ford, will make the following statement:
“Trading since the start of our financial year in July has benefitted from an increased contribution from both Probes and iTrack II and the Board expect a similar financial performance to the equivalent prior year period.
Since the financial year end we have announced two new iTrack II rental deals with BHP covering 66 new rental units. These new rental deals continue to build recurring cash flow for the future.
The relationship with GE continues to strengthen and this follows the successful completion of rigorous testing of our SAW sensor technology. This has in turn increased GE’s commitment to SAW technology and we are aware it is being championed within GE’s internal and external network.
The use of our technology in the automotive field continues to be evaluated including its use in the next generation electric powered assisted steering systems. There also continues to be a keen interest within motorsport.
The board remain cautiously optimistic.”
Based in Oxfordshire, UK, Transense Technologies plc has developed patent-protected sensor systems and supporting technology for use in a variety of diverse high growth markets. Transense’s Surface Acoustic Wave (SAW), wireless, battery-less, sensor systems offer significant advantages over legacy wireless sensor systems. Transense is targeting the transport and mining industries, and the global torque, temperature and pressure sensing markets, via its trading divisions, Translogik and SAWSense.
