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48.50 0.00 (0.00%)

Bid:

48.00

Ask:

49.00

Spread: 1.00 (2.083%)

Market Cap: £7.38m

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Transense Technologies secures GBP135,000 grant to develop technology

Tue, 17th May 2022 17:16

(Alliance News) - Developer of specialist sensor systems Transense Technologies PLC on Tuesday said it had secured a place on the Advanced Propulsion Centre's Technology Developer Accelerator Programme.

The Bicester, England-based company said that APC supports companies that are developing automotive-related technologies which could support the shift to zero-emission vehicles.

Participants in the scheme are given grant funding of GBP135,000 for its technology developments.

Transense said that it will use the funding to develop the market and technology application for its patented SAW sensor technology.

Director Ryan Maughan said: "TDAP will allow Transense to accelerate development of its sensor technology in the automotive sector which is an exciting and rapidly growing market. We believe that the technology can deliver substantial improvements in efficiency, performance and safety integrity to drive systems."

Transense Technologies closed down 2.8% at 68.50 pence in London on Tuesday.

By Sophie Rose; sophierose@alliancenews.com