Tan Delta Systems PLC New product development agreement with OEM
09 Agosto 2024 - 1:00AM
RNS Regulatory News
RNS Number : 8010Z
Tan Delta Systems PLC
09 August 2024
Tan Delta Systems plc
("Tan Delta", or the
"Company")
New product development agreement with
OEM
Tan Delta (AIM: TAND), a leading provider of
intelligent monitoring and maintenance systems for commercial and
industrial equipment, is pleased to announce that it has entered
into a non-exclusive new product development agreement with a
global engine OEM (the "Agreement").
The Agreement is for the development and
commercialisation of a new real time sensor (based on the Company's
core technology) to monitor the condition and degradation of
aqueous fluids such as coolants, cutting fluids and water based
hydraulic fluids. The Agreement is worth approximately £200k which
is expected to be fully recognised in the current financial year
ending 31 December 2024. The Company plans to have the product
completed and ready for live trials by the end of Q4 2024. Post
this development phase, potential revenue in the subsequent five
years could exceed £2.0m.
Chris Greenwood, Tan Delta Systems, CEO
said:
"I'm very
excited about this development agreement as it aligns with our
strategic vision of expanding our intelligent monitoring
capabilities whilst utilising our existing core technology. In
addition to opening new markets for water-based fluids, this new
sensor will give us the unique ability to monitor all of the key
fluids in an engine (fuel, oil and coolant) in real time giving
unparalleled insight into the operating condition of the underlying
assets."
For enquiries, please contact:
Tan Delta
Systems
plc
|
Tel: +44 (0)
845 094 8710
|
Chris Greenwood,
CEO
|
|
|
|
Zeus (Nominated
Adviser & Broker)
|
Tel: +44 (0)
203 829 5000
|
David Foreman, James Hornigold, Ed Beddows
(Investment Banking)
|
|
Nick Searle (Sales)
|
|
Notes to
editors:
Tan Delta Systems PLC provides equipment
monitoring technologies and solutions that use real time oil
analysis to enable material reductions in maintenance
costs, improve reliability and reduce carbon footprint.
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END
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