Last checked at 5 Nov 2010 09:39
5 November 2010
Pursuit Dynamics PLC
("PDX" or "the Company")
PDX announces agreement with the Procter and Gamble Company ("P&G")
PDX is pleased to announce a Joint Development Agreement ("JDA") with P&G that will enable P&G to develop specific applications using the PDX reactor technology in a wide range of its production processes.
The JDA is the culmination of trials that commenced in the spring of 2010 at PDX's facilities in Cambridgeshire (UK). The new agreement will enable P&G's technical centres to embed the PDX technology inside their global facilities. This will enable them to assess the potential cost and energy savings of using PDX's technology in its manufacturing processes.
P&G and PDX expect to agree on an annual licence fee for using the technology in a range of manufacturing environments. The JDA can be extended to other parts of P&G's business on a division by division basis and PDX expects its technology to have broad application across P&G's product manufacturing range.
The PDX reactor technology has been deployed in a range of different areas already, including food, brewing and beverages but also in areas such as bio-fuels production for the global ethanol production market.
The agreement with P&G, the leading global consumer goods company in the world with nearly $80 billion in annual sales, represents another key partnership for PDX, propelling it into a new key area of revenue and business growth.
Roel Pieper, CEO of PDX, commented:
"P&G is an exciting new partner for us and we are looking forward to working with them. We believe that the PDX technology can deliver attractive solutions for P&G, thereby demonstrating the substantial value and impact that our technology has to large scale, high quality consumer goods production processes".
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For Further Information, please contact:
PDX | |
Roel Pieper, CEO | Tel: +44 (0)1480 422050 |
Jonathan Bailey, SVP Business Development & New Ventures | |
Financial Dynamics | |
Ben Foster / Marc Cohen | Tel: +44 (0) 20 7831 3113 |
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Cenkos Securities plc | |
Ian Soanes / Max Hartley | Tel: +44 (0)20 7397 8924 |
Mirabaud Securities LLP | |
Rory Scott | Tel: +44 (0) 20 7878 3360 |
Notes to Editors
About PDX
- PDX(AIM: PDX) owns and commercialises the PDX Atomiser and Reactor technologies that enable significant reductions in energy usage, process acceleration and result enhancement for a wide range of industrial processes and applications.
- The PDX business model is currently organised into five Lines of Business - Bio-fuels, Brewing and Food, Decontamination, Fire Suppression and New Ventures.
- PDX is headquartered in Huntingdon (UK) with an office in London (UK), Schaffhausen (Switzerland) and Connecticut (USA).
- Further information is available at the Company's website: www.pdx.biz
- Publication quality photographs are available from FD.