REG - Braveheart Inv Group - Investment update – Gyrometric

Braveheart InvestmentAnnouncement

01/08/2024 07:00

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RNS Number : 6467Y  Braveheart Investment Group plc  01 August 2024

1 August 2024

 

Braveheart Investment Group Plc

("Braveheart", the "Company" or the "Group")

 

Investment update - Gyrometric

 

Braveheart Investment Group (AIM: BRH), announces an update on Gyrometric
Systems Limited ("Gyrometric"), a company within its investment portfolio.
Braveheart recently increased its shareholding in Gyrometric to 21.43%, having
acquired a 15% interest in the company for £22,500 on 9 July 2024.

 

Gyrometric has developed a patent protected system of hardware and software to
monitor complex movements of rotating shafts at both high and low speeds and
detect minute irregularities in their motion. The system then analyses the
data to help predict mechanical failure in the shafts and the motors, bearings
and couplings attached to them.

Gyrometric has now been awarded a £300,000 grant by the UK Government's
Innovate programme ("IUK"), to lead a group of UK specialists to develop a
monitoring system for large journal bearings for wind turbines. This UK group
includes Leonardo Testing Services Limited ("LTS") in Sheffield and the
Offshore Renewable Energy Catapult ("OREC") in Blythe. The UK group will work
with a USA based team led by Tufts University, which includes Kingsbury Inc.,
a specialist bearing manufacturer, and a large US wind turbine manufacturer.

This collaborative US/UK project will focus on developing large tilting pad
journal bearings and monitoring their performance using Gyrometric's
technology. The project's innovation lies in adapting Gyrometric's incremental
motion encoder ("IME") technology to measure radial and axial shaft
displacement with high accuracy, alongside LTS's ultrasonic methods to monitor
oil film thickness.

This IUK initiative aims to support next-generation wind turbines of over 20
MW, which will require tilting pad bearings, as rolling element bearings are
considered impractical for this application. OREC's involvement in the project
is intended to bridge the gap between technology demonstration and market
adoption.

Future market opportunities for Gyrometric lie with bearing producers and wind
turbine original equipment manufacturers, particularly offshore wind in the
UK/USA. The UK's current wind energy capacity is 14.8 GW , and the UK
Government has set a capacity target of 50 GW by 2030. If successful, the
Directors of Gyrometric believe its system could be retrofitted to existing
turbines, offering a significant revenue stream to Gyrometric.

Once developed, the Gyrometric IME technology could also be applied to many
other applications where tilting pad bearings are used.

Trevor Brown, CEO of Braveheart, commented:

 

"We are excited about this grant award as it affirms the importance and
relevance of Gyrometric's unique technology in the production of alternative
energy in future years, together with the opportunity to work closely with a
leading US partner".

 

 Braveheart Investment Group plc                                Tel: 01738 587555
 Trevor Brown, Chief Executive Officer

 Viv Hallam, Executive Director

 Allenby Capital Limited (Nominated Adviser and Joint Broker)   Tel: 020 3328 5656
 James Reeve / George Payne

 Peterhouse Capital Limited (Joint Broker)                      Tel: 020 7469 0936
 Duncan Vasey / Lucy Williams

 

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