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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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May 17, 2022 02:01 ET (06:01 GMT)

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