REG - Transense Technlgy - Transense Selected for £11 Million EV R&D Project

Transense TechnologiesAnnouncement

18/09/2024 07:00

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RNS Number : 5777E  Transense Technologies PLC  18 September 2024

The information contained within this announcement is deemed by the Company to
constitute inside information pursuant to Article 7 of EU Regulation 596/2014
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 as amended. With the publication of this announcement,
this information is now considered to be in the public domain

 

18 September 2024

Transense Technologies plc

("Transense" or the "Company")

 

Transense SAWsense Technology Selected for £11 Million EV R&D Project

 

Transense Technologies plc, a leading innovator in sensor technology and
measurement systems for the automotive and aerospace sectors, has been
selected as a key partner in an ambitious £11 million electric vehicle (EV)
research and development programme, that will be part funded by the UK
Government through the Advanced Propulsion Centre UK ("APC").

 

Following a competitive bid process led by Protean Electric ("Protean"), a
global leader in automotive technology and in-wheel motor solutions, Transense
will collaborate with Protean and its other partners - Unipart, Viritech and
Hypromag - to deliver the Power-electronics Upscale for Localisation and
Sustainable Electrification ("PULSE") programme. The PULSE programme aims to
bring cutting-edge UK-developed power-electronics products and manufacturing
capabilities to the EV market.

 

Transense will contribute its SAWsense technology to enhance Protean's
in-wheel motor assemblies, improving control and performance. This involves
integrating SAWsense sensing elements within the motor system, along with
electronics and control software, as part of Protean's new 800V Twinverter
system.

The 30-month PULSE project will build on Protean's Gen5 in-wheel motor
technology by developing an advanced 800V Silicon Carbide (SiC) Twinverter and
in-wheel motor for use in both lightweight and heavy-duty EVs. The PULSE
project will also focus on creating an integrated drive unit to meet growing
demand in the EV market.

 

As part of the project, Transense will also invest in developing its supply
chain and manufacturing capabilities, ensuring readiness to meet automotive
market production and quality requirements and support Protean's market
launch.

 

Ryan Maughan, Managing Director of Transense Technologies plc, commented:

"We are thrilled to be a part of this groundbreaking EV drive system project,
propelling the UK's automotive industry toward sustainable electrification.
Winning such a competitive bid is a testament to the confidence in our
SAWsense technology and our team's expertise. This project underpins our
near-term revenue forecasts and presents long-term opportunities for
production revenue."

 

Stephen Lambert, CTO of Protean Electric, added:

"Project PULSE brings together a world class consortium to develop in-wheel
motor power electronics and the manufacturing solutions needed to manufacture
in volume.  We are delighted to be working with Transense to deliver motor
integrated torque sensing technology, having seen the potential in initial
feasibility and technical studies that have already been completed."

 

 

For further information please visit https://www.transense.com
(https://www.transense.com) or contact:

 

 Transense Technologies plc                                                 Via Investor Relations

 Nigel Rogers (Executive Chairman)                                          (see below)

 Ryan Maughan (Managing Director)

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

 Jeremy Porter / George Payne (Corporate Finance)

 Stefano Aquilino / Tony Quirke (Sales and Corporate Broking)
 Investor Relations               Tel: +44 (0)1869 238380

 Anice McNamee                    investor.relations@transense.co.uk (mailto:investor.relations@transense.co.uk)

 

Notes to Editors:

 

Transense is headquartered in Oxfordshire, UK and its shares are traded on
AIM, a market operated by the London Stock Exchange (AIM: TRT). The Company
develops and supplies advanced sensor technology and measurement solutions
used by some of the world's leading companies to improve performance,
efficiency, and safety in demanding, mission critical applications. Transense
currently operates through two active business segments:

 

·    SAWsense - designs, supplies and licences advanced sensor solutions
based on proven, patent protected Surface Acoustic Wave (SAW) technology to
world leading companies in aerospace, automotive, and industrial machinery
(including robotics), enabling improved efficiency and performance of their
products. Key customers include GE Aerospace, Parker Meggitt, McLaren Applied,
Airbus and several other confidential Tier One automotive, aerospace and
industrial machinery suppliers.

 

·    Translogik - develops smart, connected commercial vehicle tyre
inspection equipment to many of the world's leading tyre suppliers, fleet
operators and service centres. Enabling accurate measurement and digital
capture of safety-critical tyre condition data, used to reduce operating
costs, improve safety and provide audit records for regulatory compliance. Key
customers include Bridgestone, Goodyear, Continental and Prometeon (Pirelli),
and leading independent providers of vehicle fleet maintenance management
software.

 

In addition, Transense earns residual royalty income from Bridgestone iTrack -
a tyre monitoring system for off-highway vehicles that was developed by
Translogik. The associated sales, support and development infrastructure were
sold to Bridgestone Corporation, the world's largest tyre producer, in June
2020, and the intellectual property was licensed exclusively to Bridgestone
under a ten-year deal expiring in 2030.

 

Find out more at: https://www.transense.com/ (https://www.transense.com/)

 

 

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