RCS - Microsaic Systems - Company Update

Microsaic SystemsAnnouncement

27/03/2024 09:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240327:nRSa4986Ia&default-theme=true

RNS Number : 4986I  Microsaic Systems plc  27 March 2024

Reach

27 March 2024

 

Microsaic Systems plc

 

("Microsaic" or the "Company")

 

Company update

 

Microsaic Systems plc (AIM: MSYS), the developer of micro-electronic
instruments and analytical solutions, is pleased to announce the following
update, further to our announcement on 16 February 2024.

 

Having passed quality control specifications, shipments of existing MicroTox®
reagent stock have begun to meet the demand from clients that are operating
Modern Water instruments currently in service. Stock levels are sufficient to
meet this demand until restarted production output from our York facility
passes testing and quality control for shipping, as scheduled for April.

 

Microsaic has also agreed terms with GX Group, based in Usk Wales, for the
continued manufacturing and further development of Continuous Toxicity
Monitoring instruments ("CTMs") and related consumables previously sold by the
Modern Water business.

 

In Qatar, 27 CTMs previously delivered by Modern Water are now being installed
by our local distributor to monitor Doha's public water system continually by
online testing. Consumables including MicroTox® reagents are being prepared
for delivery to enable the instruments to be commissioned and operated.

 

In addition, there is a new sales pipeline developing for the supply of our
laboratory-use LX and portable field-use FX water testing instruments, to
existing and potential new customers, all of which instruments utilise
different forms of MicroTox® reagents.

 

Sulphate Reducing Bacteria Test kits ("SRB kits") are being quality checked
and initial production of SRB kits is expected shortly thereafter, making them
available for purchase. SRB kits are used to identify sulphate-reducing
bacteria which are highly reactive and corrosive. These bacteria are known to
cause corrosion issues in submerged metal and concrete including pipelines by
degrading hydrocarbons, a serious concern for the oil and gas industry.

 

We are integrating our Modern Water and Microsaic Systems' technologies and
the Company is better positioned to provide a total fluid testing solution
through the provision of both the testing and analysis equipment with support
services. This will cover the testing and analysis of water and discharge of
industrial fluids. Our point of need testing capabilities now comprise the
early warning of toxic content monitored by our Modern Water technology which
can then be analysed in detail using Microsaic's miniaturised mass
spectrometer detection instrument, built around the 4500MiD®. This enhanced
capability is attracting significant market interest not just from original
equipment manufacturers ("OEMs") and distributors, but also from international
water supply companies. Whereas centralised laboratory testing has logistical
challenges and can cause delays to achieve timely results our systems are all
designed for low energy use, enhancing our capacity for localised
point-of-need testing.

 

 

Bob Moore, Acting Executive Chairman of Microsaic, commented:

 

"The combination of Modern Water and Microsaic technologies is underway as
planned. This will give our customers the enhanced service and capabilities
that our broad range of equipment can provide for testing and analysis of
corrosive, toxic and potentially carcinogenic chemicals including PFAS. We
look forward to building this wider scope capability and implementing our
business plan around the reset business on an international scale."

 

 

 Microsaic Systems plc                            +44 (0) 20 3657 0050

 Bob Moore, Acting Executive Chairman             via TPI

 Singer Capital Markets (Nominated Adviser)       +44 (0)20 7496 3000

 Aubrey Powell / Angus Campbell / Oliver Platts

 Turner Pope Investments (TPI) Limited (Broker)   +44 (0) 20 3657 0050

 Andy Thacker / James Pope

 

About Microsaic Systems

Microsaic has over 20 years' experience in microelectronics and development of
instrumentation and having acquired the Modern Water business has diversified
and widened its capabilities. The Company has an extensive and innovative
patent portfolio in industry-leading technology designed and developed for
"Industry 4.0" application serving markets in diversified Industries, Human
and Environmental Health. Microsaic's very energy-efficient, micro-system
solutions have enabled analytical detection and characterisation at the
point-of-need, whether within a mobile testing capability, conventional
laboratory setting, or within a bioprocessing facility for continuous
detection of data at multiple steps in the process workflow.

 

Microsaic's products and solutions are commercially available through global
markets via a network of regional and local partners, targeting its core
laboratory, manufacturing and point-of-need applications.

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAUBSWRSWUOURR