Gaming Realms Regulatory News (GMR)

28 Jul 2006 08:56

Pursuit Dynamics PLC28 July 2006 For immediate release, 28 July 2006 PURSUIT DYNAMICS plc ("Pursuit Dynamics" or "the Company") TYCO FIRE SUPPRESSION LICENCE UPDATE Pursuit Dynamics, the developer and licenser of the innovative and patented PDX(R) technology, which has applications across a broad range of industries, ispleased to announce that its global exclusive licensee for its PDX FireMist(R)fire suppression technology, Tyco Fire & Building Products ("Tyco") has providedan update on progress. Tyco has informed Pursuit Dynamics that it has met all of the initial milestonesspecified in its licensing agreement with the Company. These include: o Mechanical Property Testing. The primary objective of this task was toreview the configuration of the discharge nozzle to determine the ability toapply standard spray nozzle mechanical tests to the device and this wassuccessfully accomplished. o Component Acquisition. A complete, dedicated data acquisition systemcapable of monitoring all nozzle input parameters (pressures, flowrates, andtemperatures) as well as a very large number of output parameters was procured,assembled, and calibrated and successfully and accurately captured all of theparameters desired. o Target Hazards/Applications. A preliminary review of water mistapplication categories and approval standards was undertaken and initial targetmarkets identified. The selected markets are characterized by strong growthconditions, favorable environments for the deployment of new technology andclearly identified unmet fire protection needs o Target Customers. Two to three potential beta sites/applications havebeen identified, and discussions intended to clarify functional and performancerequirements are ongoing. There has been significant interest in the technologybut initial commercialisation activities will be limited to those that representthe fastest route to market combined with the greatest likelihood for similarapplications. In addition, and outside the scope of the initial milestones, intermediate scaletesting by Tyco has been ongoing to develop empirical models relating nozzleinput parameters to fire suppression/extinguishing potential. This criticalactivity will greatly facilitate the application of the technology to thebroadest number of applications. Commenting on the update, John Heathcote, Pursuit Dynamics' Chief Executive,said, "Tyco's delivery of its initial milestone development obligations gives usconfidence that it is on track to meet subsequent milestones. We are delightedthat they are approaching the goal of commercialisation with as much enthusiasmas we have and that our objective to get our technology to market as rapidly aspossible is shared. All of us at Pursuit Dynamics are looking forward tocontinuing to work closely with Tyco." For further information on Pursuit Dynamics, please visitwww.pursuitdynamics.com or contact: John Heathcote, CEO Simon Hudson, Rachel Drysdale,Gary Pyle, CFO Paul DulieuPursuit Dynamics plc Tavistock CommunicationsTel: +44 (0)1480 422050 +44 20 7920 3150 or 07966 477256 ABOUT PURSUIT DYNAMICS Pursuit Dynamics plc owns, and is developing, a patented platform technologywith the potential to revolutionise manufacturing techniques across numerousindustries. The core technology is based on a gas driven, supersonic shockwavethat produces a controllable mixing, heating and flow rate. Pursuit Dynamicsoperates as a research and development and licensing company and has alreadyproved the application of its system in the food industry. Its PDX(R) Sonic fluid processing product, which is a highly efficient systemfor use in the manufacture of prepared foods and soft drinks, was launched inJanuary 2005 and has been licensed to a number of leading industry players inthe EU, USA and Central America. Other potential industry applications under development include applications forwaste treatment, brewing, pharmaceuticals, personal healthcare, on-line turbinewashing and oil and gas. In addition to its almost universal applicability to process flow manufacturingindustries, the technology has been adapted to address the very large marketsfor fire and explosion suppression. FireMist(R), Pursuit Dynamics' patentedproduct, the most effective of all commercially available water mist productionand distribution systems, can successfully extinguish Class A and B fires inbuilding and aircraft simulation fire tests. In December 2005, Pursuit grantedan exclusive global licence for FireMist to Tyco Fire & Building Products, adivision of Tyco International Ltd (NYSE: TYC; BSX: TYC), which is the worldleader in fire suppression. In July 2005, Pursuit announced the signing of a one year contract with DARPA, aUS governmental defence research agency to use its PDX(R) Basiliskdecontamination system. The system has a number of applications fordisinfection, human and animal healthcare and in the defence industry,principally in chemical and biological defence applications. Pursuit Dynamics is headquartered in Huntingdon, UK and has a US office inDarien, Connecticut. It is quoted on the AIM market of the London Stock Exchange(ticker: PDX). This information is provided by RNS The company news service from the London Stock Exchange