Joint Venture

For immediate release   20 October 2010 Transense Technologies PLC ("Transense" or the "Company") The AIM-listed technology transfer company Transense & SenGenuity Announce Formation of New Joint Venture Company Transense Technologies plc, the AIM-listed technology transfer company that develops Surface Acoustic Wave (SAW) based wireless, batteryless sensor systems for the automotive and other industries, together with SenGenuity, the sensors division of Vectron International Inc.,a division of Dover Corporation (NYSE:DOV) are pleased to announce the formation of a new joint venture (JV) company. The joint venture company, Bulldog Innovations Limited ("Bulldog Innovations"), is a 50/50 partnership between Transense and SenGenuity that will enable closer cooperation in order to accelerate the development of specific applications based on the companies' existing technologies. The two parties have worked together since July 2008, when SenGenuity was granted an initial licence to manufacture Transense's temperature and pressure sensor. This initial licence was then extended to include use of Transense's patented wireless reader electronics.  SenGenuity has leveraged this technology toward the development of a series of breakthrough wireless and passive temperature & pressure sensing systems. These products are currently rolling out to the worldwide market in a variety of application areas, notably in the Smart Grid space for monitoring of critical switchgear systems. Transense is already in receipt of modest, but steady, royalty flows from SenGenuity.  The Board of Transense looks forward to the deepening of the collaboration between the two companies and further accelerating the rate at which more meaningful royalty revenue will be forthcoming. Graham Storey, Chief Executive of Transense Technologies PLC, commented: "I am delighted we are extending our relationship with SenGenuity through the creation of Bulldog Innovations.  The targeted market opportunities identified by SenGenuity, to leverage the synergies of our combined technologies, represent a significant and exciting revenue growth prospect. The JV will allow us to exploit these markets as quickly as possible.  I look forward to the continued expansion of our patented technology platform, in joint development with SenGenuity, to our mutual benefit." Tom Cunneen, General Manager of SenGenuity, a division of Vectron International commented: "The partnership with Transense has proven to be a key strategic element in the execution of SenGenuity's business plan, allowing us to broaden our product portfolio while accelerating time-to-market for this technology. SenGenuity's physical sensor products & systems offer breakthrough solutions in application areas where existing/legacy technology has not adequately fulfilled the market need. The JV with Transense will serve to enhance the successes we have experienced to date." For more information, please contact: Transense Technologies PLC Tel: +44 (0) 1869 238 380 Graham Storey, Chief Executive SenGenuity Richard Kelley, Director of Sales & Marketing Tel: +1 603 578 4071 Brewin Dolphin - Nomad Neil Baldwin Tel: +44 (0) 845 213 4726 Hybridan LLP - Broker Claire Noyce Tel: +44 (0) 207 947 4350 Peckwater PR Tarquin Edwards Tel: +44 (0)7879 458 364 tarquin.edwards@peckwaterpr.co.uk About SenGenuity SenGenuity, an operating division of Vectron International, is a leading provider of breakthrough sensor solutions and products. As part of its growing product portfolio, SenGenuity delivers to customers innovative solutions for measuring the condition of fluids in challenging, embedded environments by coupling its state-of-the-art precision sensor solutions with Vectron's surface and bulk acoustic wave (SAW and BAW) technology. Further, SenGenuity is leveraging its core competencies in AW technology along with extensive experience in radio frequency (RF), signal conditioning, embedded system electronics design and advanced packaging technologies to drive the development of breakthrough solutions for gas and physical sensing applications. Dedicated to taking a leadership role in the $50 billion sensor market, SenGenuity is continually designing and manufacturing innovative sensing solutions that can be used across a broad range of industries, and are rapidly becoming the new standard for performance and reliability in critical data gathering applications. For more information visitwww.sengenuity.com. About Vectron International Vectron International is a world leader in the design, manufacture and marketing of frequency control, sensor, and hybrid product solutions. Vectron solves complex timing, filtering and sensor challenges by delivering customized solutions that speed time to market and offer low total cost of ownership. Vectron uses the very latest techniques in both bulk acoustic wave (BAW) and surface acoustic wave (SAW) based designs from DC to microwave frequencies. Committed to the industry's highest quality service standard and complete satisfaction, Vectron International leverages its global footprint and 50 years of experience to help customers achieve competitive differentiation and improve their bottom line. Vectron International is headquartered in Hudson, NH and has operating facilities and sales offices in North America, Europe and Asia. For more information visitwww.vectron.com. About Transense Transense Technologies is a technology transfer company based in Upper Heyford, Oxfordshire, UK. Transense develops Surface Acoustic Wave (SAW), wireless, batteryless, sensor systems in partnership with its licensees and partners, Honeywell, Melexis, Michelin, Sengenuity, Stack, Tai-Saw, Texas Instruments, SCHOTT, McLaren Electronic Systems and Carbon Motors. Current applications include Tyre Pressure Monitoring Systems (TPMS) and torque systems for Electrical Power Assisted Steering (EPAS) and driveline management. Transense is listed on the Alternative Investment Market of the London Stock Exchange (TRT) For more information visit www.transense.co.uk [HUG#1453476] This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Transense Technologies plc via Thomson Reuters ONE
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