Announcement
Transense Technlgy : GE Aviation Contract Win
RNS Number : 9501O
Transense Technologies PLC
04 February 2019
Transense Technologies plc
("Transense" or the "Company")
GE Aviation Contract Win
Transense Technologies Plc (AIM: TRT), the provider of sensor systems for the transportation, automotive, avionic and industrial markets, is pleased to announce that their licensee GE Aviation (GE) T901-GE-900 engine has been selected by the U.S. Army for the Engineering and Manufacturing Development (EMD) phase of the Improved Turbine Engine Program (ITEP), the U.S. Army's endeavor to re-engine its Boeing AH-64 Apaches and Sikorsky UH-60 Black Hawks. The T901 engine incorporates a Transense Technologies Surface Acoustic Wave (SAW) sensor.
The US Army intends to replace the more than 6,000 engines installed in their current fleet of these two aircraft; the wider market for the T901 includes replacement engines for these aircraft in military forces outside of the USA as well as other military and commercial medium sized vertical take-off aircraft opportunities globally.
Transense's Graham Storey stated, "We are very proud of the involvement of Transense's SAW technology in this engine and look forward to working with GE in the future".
GE will pay a perpetual sales royalty to the Company in respect of each unit using the technology, under the license agreement previously announced by the Company in July 2016 and March 2017.
For further information please visit www.transense.co.uk or contact:
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Transense Technologies Plc Graham Storey, Chief Executive
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Tel: +44 (0) 1869 238380
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finnCap Ed Frisby, Giles Rolls (Corporate Finance) Tim Redfern (ECM)
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Tel: +44 (0) 20 7220 0500
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About Transense Technologies
Based in Oxfordshire, UK, Transense has developed patent-protected sensor systems and supporting technology for use in a variety of diverse high growth markets. Transense's Surface Acoustic Wave (SAW), wireless, battery-less, sensor systems offer significant advantages over legacy wireless sensor systems. Transense is targeting the transport and mining industries, and the global torque, temperature and pressure sensing markets, via its trading divisions, Translogik and SAWSense.
Transense's shares are admitted to trading on AIM, a market operated by the London Stock Exchange (AIM: TRT).
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
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