RCS - Transense Technlgy - TRT wins place on TDAP & £135k Grant

Transense TechnologiesAnnouncement

17/05/2022 07:00

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RNS Number : 6780L  Transense Technologies PLC  17 May 2022

 

Reach: Non-regulatory announcement

Transense Technologies plc

("Transense")

Transense Wins Place on Prestigious UK Technology Acceleration Programme and
grant funding of £135k for technology development

 

Transense is pleased to announce that it has secured a place on the 6th wave
of the Advanced Propulsion Centre's Technology Developer Accelerator Programme
(TDAP). TDAP supports ambitious UK-based companies that are developing an
innovative automotive-related technology which could support the shift to
zero-emission vehicles.

 

Selection for TDAP is a competitive process that sees applicants pass through
rigorous assessment, selection and ongoing gateway processes driven by the APC
and their hand-picked independent industry experts. Not only does this ensure
that TDAP works with some of the most exciting concepts coming through the
innovation pipeline, it also acts as a signal to the outside world that these
companies are high-quality concepts with great teams behind them. TDAP allows
businesses to give their innovations the boost they need. Alongside grant
funding of £135k for technology development, participants work with the APC
and their delivery partners focusing on: product development, market strategy,
intellectual property management, investor readiness and networking. Companies
that have completed TDAP have benefitted from developing prototypes and
product demonstrators, finding new routes to market, developing new
partnerships, and strengthening their strategies and business plans.

 

Head of SME Programmes at the Advanced Propulsion Centre, Josh Denne said: "We
are delighted to be working with Transense as part of our Technology Developer
Accelerator Programme (TDAP) supporting them to strengthen their business and
help the global efforts to decarbonise transport.

 

"Our analysis shows that in total, since completing the programme, TDAP alumni
have raised over £127m of private investment, 61% of that coming in 2021 -
demonstrating the significant growth in green investment over the past 18
months.

 

"The technology developed by companies like Transense could play a crucial
role in the automotive industry's net-zero carbon future. We are excited to
support them on their growth journey ensuring their innovative technology
becomes commercially viable."

 

Transense will use TDAP to develop the market and technology application for
its patented SAW sensor technology, a robust and reliable technology that can
be used to measure torque, temperature, pressure and strain that has the
potential to be integrated directly into electric motor drive systems.
Transense believes that direct torque and temperature measurement of electric
motors rotating components could deliver significant improvements in
performance, efficiency and safety integrity of electric motor systems through
improved control.

 

Ryan Maughan, Director Transense Technologies PLC said: "Being selected to
take part in the TDAP programme is great recognition for the Transense
business. TDAP will allow Transense to accelerate development of its sensor
technology in the automotive sector which is an exciting and rapidly growing
market. We believe that the technology can deliver substantial improvements in
efficiency, performance and safety integrity to drive systems. This project
will allow us to develop the technology in this area and help to secure
commercialisation opportunities."

 

For further information please visit www.transense.com or contact:

 

 Transense Technologies plc                         Via Walbrook PR

 Nigel Rogers (Executive Chairman)

 Melvyn Segal (CFO)
 Allenby Capital (Nominated Adviser and Broker)     Tel: +44 (0)20 3328 5656

 Jeremy Porter / George Payne (Corporate Finance)

 Tony Quirke (Sales & Corporate Broking)
 Walbrook PR                                        Tel: +44 (0)20 7933 8780

 Tom Cooper / Nick Rome                             Transense@walbrookpr.com

 Notes to Editors:

Transense is a developer of specialist wireless sensor systems used to
enable real-time data gathering and monitoring.  Products include the
patent protected Surface Acoustic Wave (SAW) sensor technology, used to
improve equipment power, performance, reliability and efficiency; iTrack,
Transense 's Tyre Pressure Monitoring System, licensed to Bridgestone
Corporation, the world's largest tyre producer, under a ten-year deal in June
2020; and a range of intelligent tyre monitoring equipment under the
Translogik brand. Target sectors include automotive, aerospace, industrial,
green energy, rail and marine.

The Group's strategy is to maximise shareholder value through the delivery of
sustained revenue growth from all three principal technologies - SAW, iTrack
and Translogik probes - through leveraging excellence in innovation, know-how
in commercialising technologies, industry partnerships and exposure to global
growth markets.

Transense is headquartered in Oxfordshire, UK, and was admitted to trading on
AIM, a market operated by the London Stock Exchange (AIM: TRT), in
1999.  www.transense.com (http://www.transense.com/)

For further information please contact transense@walbrookpr.com
(mailto:transense@walbrookpr.com) .

 

About the Advanced Propulsion Centre:

The Advanced Propulsion Centre (APC) collaborates with UK government, the
automotive industry and academia to accelerate the industrialisation of
technologies, supporting the transition to deliver net-zero emission vehicles.

 

Since its foundation in 2013, APC has funded 170 low-carbon projects involving
402 partners, working with companies of all sizes, and has helped to create or
safeguard nearly 50,000 jobs in the UK. The technologies developed in these
projects are projected to save over 288 million tonnes of CO2, the equivalent
of removing the lifetime emissions from 12 million cars.

 

With its deep sector expertise and cutting-edge knowledge of new propulsion
technologies, APC's role in building and advising project consortia helps
projects start more quickly and deliver increased value. In the longer term,
its work to drive innovation and encourage collaboration is building the
foundations for a successful and sustainable UK automotive industry.

 

In 2019 the UK government committed the Automotive Transformation Fund (ATF)
to accelerate the development of a net-zero vehicle supply chain, enabling
UK-based manufacturers to serve global markets. ATF investments are awarded
through the APC to support strategically important UK capital and R&D
investments that will enable companies involved in batteries, motors and
drives, power electronics, fuel cells, recycling, and associated supply chains
to anchor their future.

 

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