Transense Technologies PLC Significant iTrack Order (2849Q)
18 February 2019 - 6:00PM
UK Regulatory
TIDMTRT
RNS Number : 2849Q
Transense Technologies PLC
18 February 2019
Transense Technologies plc
("Transense", the "Company" or the "Group")
Significant iTrack Order
Transense Technologies plc, the provider of sensor systems for
the industrial, mining and transportation markets, is pleased to
announce that a customer (the "Customer") has placed an order for
50 iTrack II units for installation in mines in North America.
Graham Storey, CEO of Transense, commented: "We are delighted
with this new relationship. The Customer is a major supplier to the
mining marketplace and their decision to adopt iTrack II after
extensive testing is a very gratifying endorsement of the
capabilities of Translogik and the iTrack II system. While there is
no actual further commitment in place, we anticipate that sales to
the Customer will reach very substantial levels by the end of our
next financial year. We look forward to working closely with them
both providing iTrack II to their customers and also developing
further enhancements and improvements in the future."
For further information please visit www.transense.co.uk or
contact:
Transense Technologies plc Tel: +44 (0) 1869 238380
Graham Storey, Chief Executive
finnCap Tel: +44 (0) 20 7220 0500
Ed Frisby, Giles Rolls (Corporate
Finance)
Tim Redfern (ECM)
IFC Advisory Tel: +44 (0) 20 3934 6630
Tim Metcalfe, Graham Herring, Heather
Armstrong
About iTrack II
The iTrack II Mining system provides fast, accurate, reliable
real-time data on the condition of the tyres, combined with live
tracking of vehicle location and status. Our 24/7 Control Room
monitors the pressures and temperatures live, and this information
can, for example, be used to ensure tyres do not exceed critical
heat thresholds, detect incorrect load distributions, predict
suspension failures, eliminate manual tyre pressure checks and much
more. All of these benefits increase health and safety as well as
reducing maintenance and downtime, which maximises the hours a
truck is working (On-Road Truck Working Hours), which directly
correlates to an increase in production.
Existing iTrack users have reported increases in tyre life of up
to 30% and fuel savings of up to 3%. Savings of this magnitude
provide a rapid return on investment with the iTrack system paying
for itself on a subscription basis from day one.
www.trans-logik.com/itrack-2/
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).
www.transense.co.uk
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
This information is provided by RNS, the news service of the
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END
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