Pursuit Dynamics – baffling announcement leaves us in the dark!

There was a bizarrely worded announcement on Tuesday from Pursuit Dynamics (LON:PDX) , the developer of the PDX Atomiser and Reactor technologies that enables significant reductions in energy usage and process acceleration.Whilst the much anticipated announcement of an agreement with Oettinger Brauerei GmbH , one of Germany's leading brewers, to install the Group's new PDX brewing system at its Braunschweig brewery was highly encouraging, the actual wording of the announcement left us somewhat baffled. The announcement happily informed us how Oettinger has seven breweries in Germany and produces approximately nine million hectoliters of beer per annum with approximately ten copper installations (lovely imagery!) and that the Braunschweig brewery is one of the largest within the Oettinger group.It then continued with the previously announced news that PDX expects to be able to charge in the range of €250,000 in general for each copper installation that installs the PDX brewing system as well as a maintenance fee and further receive a fee based upon the percentage of energy saved. However, none of this news appears to actually clarify the terms of the agreement and ultimate contract value but is more of a general nature. Having proved itself at the Braunschweig brewery for a limited period, Pursuit anticipates that the PDX brewing system will be rolled out across the remainder of Oettinger’s breweries over the course of the next year.Chief Exec Roel Pieper, CEO of PDX, commented that the “agreement is a significant milestone for PDX’s brewing business and marks a major step forward in the commercialisation of the PDX brewing system.” Without any suggestion of contract value, how are we to gauge the commercial merits of the transaction?