REG - Transense Technlgy - MoU with Meggitt SA for SAW in aerospace sector

Transense TechnologiesAnnouncement

13/09/2022 07:01

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220913:nRSM1731Za&default-theme=true

RNS Number : 1731Z  Transense Technologies PLC  13 September 2022

 

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014 which is part of UK law by virtue of the European Union (withdrawal)
Act 2018. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

 

Transense Technologies plc

("Transense" or the "Company")

Transense and Meggitt SA enter into Memorandum of Understanding to evaluate
licensing opportunities for Surface Acoustic Wave (SAW) sensor technology in
the aerospace sector

 

Transense Technologies plc (AIM: TRT), the developer of specialist sensor
systems, announces the signing of a Memorandum of Understanding (MoU) with
Meggitt SA, the designer and manufacturer of complete condition monitoring,
vibration monitoring and measurement solutions for the aerospace and energy
markets.

 

Under the MoU, Transense will support Meggitt's evaluation of potential market
opportunities for future deployment of SAW technology in the aerospace sector,
with the shared intention for Transense to grant a licence covering relevant
fields of use to Meggitt at the conclusion of the MoU on or before 31 December
2023.

 

Nigel Rogers, Executive Chairman of Transense, said, "We are delighted to be
working with Meggitt SA in the aerospace market. We have developed close
working relationships and have a shared vision of the many advantages that SAW
technology offers to customers in this rapidly changing sector.  Meggitt
provides aerospace sensing and monitoring systems to the leading aerospace
manufacturers and operators around the world, and are an ideal partner for
Transense as we seek to promote our technology in this exciting arena."

 

Pierre-Alain Brodard, Acting SVP, Engine Sensing Meggitt, added, "We are
excited about the collaboration with Transense. Their unique technology has
the potential to become a great addition to our Engine Sensing portfolio. It
fits perfectly with our strategy to support our Engine OEM customers with
unparalleled sensing and monitoring solutions that are enabling the
sustainable aviation of tomorrow."

 

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 aerospace, electric motors &
drives, industrial machinery and performance automotive.

 

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) .

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. 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  MSCQLLFFLKLZBBZ