Last checked at 5 Jun 2023 07:00
Reach - a non-regulatory announcement
5 June 2023
Transense Technologies plc
("Transense" or the "Company")
Extension of scope of licence agreement with GE Aerospace ("GE")
for CFM's Revolutionary Innovation for Sustainable Engines ("RISE") technology demonstrator program
Transense Technologies plc (AIM: TRT), the developer of specialist sensor systems, has agreed to an extension to the field of use covered by a licence for its Surface Acoustic Wave (SAW) torque sensor technology granted to GE Aerospace in 2016. The extension permits the technology to be used by GE Aerospace solely for research and development, testing, evaluation, certification, and qualification purposes under the CFM International RISE* program.
GE Aerospace and Safran unveiled the CFM RISE* program in 2021 to mature next-generation propulsion technologies such as open fan architecture. Technologies matured under the program will serve as the foundation for the next generation CFM engine that could be commercially available by the mid-2030s. Further information on the RISE* program is available at https://www.cfmaeroengines.com/rise/.
This extension of scope generates a nominal additional licence fee and will open opportunities for Transense to provide technical support to GE and its affiliates during the development phase. A similar extension covering GE Aerospace's hybrid electric demonstrator was granted in May 2022, under which customer-funded project work is already underway.
Nigel Rogers, Executive Chairman at Transense, commented:
"This is an exciting further step towards wider future adoption of our SAW technology in the commercial aerospace sector following its selection for military use in GE's T901 engine, where our torque monitoring capabilities offer valuable advantages to support increased power, efficiency, payload, and range.
We are confident of further success in this important target market, which is engaged in rapid innovation to meet the challenging sustainability demands of a changing world. "
For further information please visit www.transense.com or contact:
Transense Technologies plc Nigel Rogers (Executive Chairman) Melvyn Segal (CFO) Via Walbrook PR Walbrook PR Tom Cooper / Nick Rome Tel: +44 (0)20 7933 8780 Transense@walbrookpr.com |
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· RISE is a registered trademark of CFM International, a 50-50 joint company between GE and Safran Aircraft Engines. Notes to Editors: Transense is headquartered in Oxfordshire, UK and its shares are traded on AIM, a market operated by the London Stock Exchange (AIM: TRT). The Company develops and supplies wireless sensor technology and systems, and currently has three business segments: SAWsense - patent protected Surface Acoustic Wave sensor technology that provides real time measurement of torque, temperature, pressure and strain, and is used to improve efficiency, performance, safety and sustainability of propulsion systems and machinery. Current focus is the development of a pipeline of high calibre customers and collaborative partnerships for a variety of applications in electric drives, aerospace, industrial machinery (including off-highway and robotics) and high-performance automotive sectors. Translogik - smart, connected commercial vehicle tyre inspection equipment, used by vehicle fleets to more easily gather and maintain accurate tyre safety and condition data; and, iTrack - a tyre monitoring system for off-highway vehicles, licensed exclusively to Bridgestone Corporation, the world's largest tyre producer, under a ten-year deal expiring in 2030. For further information please contact transense@walbrookpr.com |
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