I am surprised by the high share value of Pursuit Dynamics. For a technology of this age, the revenues seem very low. I also have concerns about their technical claims.
They make energy efficiency claims for the PDX technology but I strongly suspect that the comparison has been made between direct heating (steam injection) versus indirect heating. Direct steam injection is more energy efficient than indirect heating. The downside of direct steam injection (with food products) is that more expensive 'clean steam' has to be used. Direct steam injection can also be employed with conventional steam sparging techniques (not IP protected). If PD are to compete in this market they will be up against companies like Spirax Sarco who can offer steam fittings for a few hundred pounds.
Is the atomiser technology based on the core PDX technology? My impression is that it is an air/water atomiser. These are ubiquitous in the process industry and low cost atomisers can be bought from any number of companies.
PD's claims for fast mixing may well be true. There are valuable applications for fast mixing (e.g. fast competetive chemical reactions) but dilution with a non reacting mixing agent is in most cases unacceptable. Fast heating and cooling of foods is important and this is linked to mixing but there are established ways of achieving this (e.g. steam sparging combined with mechanical mixing).
PD make claims for reduced enzyme use in Bio fuel applications. I have concerns about their shockwave theory for a mass/heat transfer limited process.
Based on their revenues, I suspect that PD are a lot better at selling to investors than industrial users.
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