AGM Statement

RNS Number : 5914P

Transense Technologies PLC

26 October 2012

 



26 October 2012

Transense Technologies plc

AGM Statement

Transense Technologies plc ("Transense" or "the Company") (AIM: TRT), the provider of sensor systems for the transportation and industrial markets, will present the following information at the Company's Annual General Meeting later today:

Sales for the first four months of the new financial year (July - October 2012) increased by almost four times the level of sales for the same period last year.

Progress continues towards commercialisation of the torque flexplate in partnership with General Motors, with further applications of the technology being evaluated. Transense is also in advanced discussions with a second major automotive OEM regarding a further flexplate project. The flexplate is an integral part of the vehicle powertrain control system and has the potential to improve vehicle driveability, reduce fuel consumption and improve transmission shift quality.

In Motorsport, Transense is now supplying drive shafts to McLaren for use in Indycar, as part of the Joint Development Agreement, as well as receiving royalties from its licensee, Stack , in regards to its tyre pressure monitoring system (TPMS).

The Intelwind project, to improve the efficiency and reliability of wind turbines, funded by the EU's Seventh Framework Programme (FP7) is continuing and Transense is now in discussions with regards to further FP7 initiatives.

As part of the Company's strategy to diversify into non-automotive markets, a number of new paid for customer-driven projects are underway, developing Transense's patented SAW (Surface Acoustic Wave) technology for use in avionics, space and a variety of industrial applications.

Transense Technologies' IntelliSAW Division now has nine major pilots underway for its IS485 wireless/passive switchgear temperature monitoring system. The pilots at sites owned by JSW Steel, Petrobras, Southern China Grid and Gujarat State Electricity Corp are continuing, with the JSW Steel trial being recently expanded. In addition, a further five pilots have begun at:

·     State Grid Corp of China (Approximately 1Bn customers and 1.5m employees)

·     Formosa Plastics Group (Taiwanese conglomerate with annual sales in excess of USD 60Bn)

·     Nan Ya Switchgear (Based in Taiwan and suppliers to major switchgear manufacturers such as ABB & Schneider)

·     Duke Energy (Largest regulated utility in the US)

·     Orlando Utility Commission

In addition, agreement was reached on Wednesday 24^th October to begin a tenth (90 systems) pilot at a Government owned facility in Saudi Arabia. Success of any of these pilots could lead to volume orders for the IS485 system.

IntelliSAW's distributor network is expanding rapidly, with ten already in place and discussions ongoing with potential new distributors in Vietnam, Cambodia, Indonesia, Thailand, and the Philippines. Further meetings are planned within the next few months with distributor candidates in the UK, Germany/Austria, Israel, Poland, and the UAE.

Translogik's recent iTrack order from Anglo American subsidiary, Kumba Iron Ore, was the first commercial success for Translogik's iTrack system in South Africa. The Company is hopeful that the global exposure within the mining industry that this order has provided will translate into further commercial successes. New routes to market for the iTrack system with companies providing complementary products to the mining and earthmoving truck markets have been established and the iTrack systems capabilities continue to grow.

Sales of Translogik's tyre inspection probes continue, with new OE system integration opportunities for the iProbe emerging as the adoption of RFID technology within the tyre market gathers pace.  The recent high-profile use of the iProbe as part of Michelin's London 2012 Olympic transport safety initiative highlighted the industry's move towards integrated end-to-end tyre management and tracking systems.

The Company is extremely positive about developing prospects for exploiting its sensor expertise through IntelliSAW, Translogik, and with its  partners & licensees.

A copy of the presentation given during the AGM by Graham Storey, CEO of Transense, will be made available on the website subsequent to the meeting.

For further information, please contact:

Transense Technologies plc	Tel: [phone]
Graham Storey, Chief Executive
N+1 Singer - Nominated Adviser Aubrey Powell, Shaun Dobson	Tel: [phone]
Hybridan LLP - Broker	Tel: [phone]
Claire Noyce, Deepak Reddy
Newgate Threadneedle	Tel: [phone]
Caroline Evans-Jones, Robyn McConnachie

Notes to Editors

About Transense Technologies

Based in Oxfordshire, UK, Transense has developed patent-protected sensor systems for use in diverse high growth markets. Developed in conjunction with partners including McLaren Electronic Systems and General Motors, Transense's Surface Acoustic Wave (SAW), wireless, battery-less, sensor systems offer significant advantages over legacy wireless sensor systems. Via two wholly owned divisions, IntelliSAW and Translogik, Transense is targeting the high growth global electrical Smart Grid applications market and the transport industry respectively.

Transense's sensors are also being used in the wind turbine monitoring industry. The Company is part of a consortium of nine companies ("IntelWind") that has begun development on a major EU funded project to improve the efficiency of wind turbines.

Transense's shares are admitted to trading on AIM, a market operated by the London Stock Exchange (AIM:  "TRT").

www.transense.co.uk

About IntelliSAW

IntelliSAW, a trading division of Transense Technologies plc (AIM: TRT.L), develops and markets patent protected wireless, passive surface acoustic wave (SAW) based sensing systems targeted at challenging industrial applications. Its IS485 family of products provides temperature monitoring of critical electric power switchgear equipment in Smart Grid applications.

IntelliSAW's proprietary solution is wireless and does not require any power to the sensors, affording ease of installation and system commissioning while avoiding introducing any arcing or flashover concerns. Moreover the IntelliSAW system outputs data directly onto existing communication networks using standard protocols, allowing for instantaneous monitoring and control.

The IS485 platform brings an advanced feature set as compared to legacy solutions on the market today, including twelve independent sensor frequencies and four antenna connections per reader which combined allow for up to 48 sensors per system. Further innovative advances in interrogation protocols, differential sensor topology, and microcontroller architecture serve to resolve a number of known issues with existing solutions including sensor drop-out, challenging system set-up processes, positional dependence of sensor calibration, and non-compliance to high voltage application environments.

www.intellisaw.com

About Translogik

Translogik, a trading division of Transense Technologies plc, is a provider of innovative tyre management solutions for the OTR (Off-the-Road) and commercial vehicle markets

The product portfolio includes wireless tyre temperature & pressure monitoring systems, tread depth, pressure and temperature data collection tools for truck, bus and OTR vehicle tyre inspections, and RFID (Radio Frequency Identification) tags, patches and UHF readers for tyres and general asset tracking.

The Products have been designed to operate in the most hostile and demanding environments, such as mining, earth-moving and construction.

www.trans-logik.com

 

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