Last checked at 31 Jul 2014 07:00
31 July 2014
Biome Technologies plc
("Biome", "the Company" or "the Group")
Contract progress for RF Technologies Business
Biome Technologies plc is pleased to announce an important milestone in its Stanelco RF Technologies Division's work with Durapipe UK in the design of an innovative portable induction welding system. Following extensive pre-market testing by the customer, an order has been placed for ten pre-production units for a total value of £0.1m for delivery in the fourth quarter of 2014.
In January 2012, Biome first announced an initial development contract with Durapipe UK. The development contract, extended in scope, is now complete and, following delivery, the pre-production units will undergo in-market testing.
The new portable welding device will work with Durapipe's new pipe system that is receptive to the use of induction heating technology. The welding equipment, developed by Stanelco RF Technologies, will allow installers in the field to join pipes and fittings quickly, cleanly and without the use of solvent based adhesives.
Biome and Durapipe UK believe this project has the potential to generate significant revenues for both parties in future years. This milestone represents substantial progress towards commercialisation of the technology at scale.
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For further information please contact:
Biome Technologies plc | |
Paul Mines, Chief Executive Officer | |
Declan Brown, Group Finance Director | |
www.biometechnologiesplc.com | Tel: +44 (0) 2380 867 100 |
Daniel Stewart & Company plc | |
David Hart (Nominated Adviser) Mark Treharne (Broker) | |
www.danielstewart.co.uk | Tel: +44 (0) 20 7776 6550 |
Allenby Capital | |
Chris Crawford/Kelly Gardiner | |
www.allenbycapital.com | Tel: +44 (0) 20 3002 2070 |
FTI Consulting | |
Oliver Winters www.fticonsulting.com | Tel: +44 (0) 20 3727 1535 |