RMS.L Share News (RMS)

LONDON (Alliance News) - Remote Monitored Systems PLC on Friday said its Geocurve subsidiary has been accepted into the EU's KEEP+ programme.

Geocurve is RMS's surveying and inspection business. In addition to receiving "modest financial support" from the programme, Geocurve will engage in a virtual reality collaboration with the University of Essex.

The University of Essex collaboration will involve exchanging knowledge and contract research, and could substantially reduce cost and risk to Geocurve.

KEEP+ is funded through the European Regional Development Fund with the goal of helping small and medium sized companied to fund knowledge exchange, grants, and consulting.

Through this EU initiative, Geocurve expects to develop "new high value products and services" for clients. This includes the potential to expand into hazardous environments such as nuclear and disaster services.

RMS said that the programme could allow it to develop services and possible intellectual property for nuclear decommissioning, possibly tapping into the UK government's expected GBP100 billion plus costs for decommissioning existing nuclear sites.

Shares in Remote Monitored Systems were up 2.1% at 0.72 pence on Friday.