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LONDON (Alliance News) - Image Scan Holdings PLC on Wednesday said it has secured a grant from the UK government's Innovate UK body and said it has secured a technology licence deal with IBEX Innovations Ltd.
Image Scan said the grant from Innovate UK is for GBP104,000 and will be used to back the development of a prototype Precision Linescan Detector, which will be used in Image Scan's next generation of X-ray machines for security and counter terrorism.
Under the deal, it has also secured a technology licence from IBEX Innovations Ltd to use the latter's MAP Materials Classification technology in the detector.
"This grant award, and the accompanying license agreement with IBEX form an important step in our plans to further enhance and extend our range of portable X-ray systems. We want to differentiate Image Scan from other suppliers and bringing this unique technology to the market will certainly achieve that aim," said Bill Mawer, Image Scan's chairman and chief executive.
Shares in Image Scan were up 20% on the news to 1.50 pence, one of the best performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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