TIDMTRT
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 GBP135k 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 GBP135k 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 GBP127m 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 Tel: +44 (0)20 3328
Broker) 5656
Jeremy Porter / George Payne (Corporate
Finance)
Tony Quirke (Sales & Corporate Broking)
Walbrook PR Tel: +44 (0)20 7933
Tom Cooper / Nick Rome 8780
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
For further information please contact 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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