PARO Paros

Paros PLC
31 October 2007





31 October 2007


                                   ParOS plc
                           ("ParOS" or the "Company")

                         ParOS granted European Patent

ParOS, the AIM listed technology company, has been formally granted European
Patent EP1399784 for the use of its parametric Model Predictive Control ("MPC")
technology. To date the provision of hardware and software applications to
support MPC has been expensive and time consuming. The Directors believe ParOS
technology overcomes these obstacles using parametric optimisation techniques 
to determine MPC solutions offline that are able to run online with low cost
process controllers.

The formal grant of patent secures the patent centrally at the European Patent
Office. ParOS has today instructed the automatic validation of the European
Patent as national patents in UK, France, Italy, Germany, Greece and
Switzerland.

Patrick McHugh, Chairman and CEO of ParOS, said "The patent process has taken
five years and our technology has been subject to a stringent public examination
but ParOS can now assert its rights to its invention in the market place and
focus on commercially exploiting its technology. The Company seeks to secure
additional revenue from the exploitation of its patents."

                                     - ends -

For Enquiries:

ParOS
Patrick McHugh                                             Tel: 020 3008 8223

Square1 Consulting Limited
David Bick/Mike Feltham                                    Tel: 020 7929 5599




Background Information on ParOS

ParOS advanced optimisation and control solution technologies have been
developed by a team, led by Chief Technology Officer, Professor Pistikopoulos,
at Imperial College's Centre for Process Systems Engineering, over the last 15
years. ParOS became a spin-out company from Imperial College in January 2002
providing energy saving advanced optimisation and control solutions to industry.
In March 2006 ParOS plc was admitted to trading on AIM with a view to
commercialising its existing technologies and to utilising its intellectual
property pipeline agreement with Imperial College.

Advanced control, referred to as Model Predictive Control ('MPC'), is achieved
by repeatedly solving optimisation problems online to determine the best control
action, given the sensor measurements at any given time and a desired target 
value for these measurements. Until now providing hardware and software 
applications to support MPC has been expensive and time consuming. ParOS 
technology overcomes these obstacles using parametric optimisation techniques to 
determine MPC solutions offline that run online with low cost process 
controllers. ParOS' solutions are currently installed in the Automotive (Active
Valve Train and Van Refrigeration) and the Process (Air Separation Systems) 
Industries.

ParOS is developing control solutions for the energy systems of the future 
including hydrogen storage in solid metal hydrides and portable and standby 
hydrogen based fuel cells for use in power generation and transportation.

For further information please visit www.parostech.com




                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
NRAWUGAGUUPMUUG

Paros (LSE:PARO)
Historical Stock Chart
From May 2024 to Jun 2024

Paros (LSE:PARO)
Historical Stock Chart
From Jun 2023 to Jun 2024