Gyrometric Development

RNS Number : 2029Z

Remote Monitored Systems PLC

16 September 2020

 

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

16 September 2020

Remote Monitored Systems plc ("Remote Monitored Systems", the "Company" or the "Group")

Gyrometric Development

Gyrometric Systems has successfully demonstrated proof of concept for a new single sensor torsional vibration monitor ("TVM").

TVM is a digital, portable contactless device. Being digital we believe, this device is more accurate than anything else currently available and because it is contactless it can be used without removing a mesh safety guard making it easier to use.

John Richardson, Gyrometric CEO said "TVM is an important new application of the Gyrometric technology, demonstrating the capability to detect torsional vibrations quickly from an easy to use portable device.  Torsional vibrations can indicate changes within a drive train which could lead to expensive down-time or catastrophic failure. We will now commence the search for a commercial manufacturing partner capable of world-wide marketing and sales"

- ENDS -

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

ENQUIRIES :

Remote Monitored Systems plc

Trevor Brown (Executive Director)  [phone]

Paul Ryan (Non-Executive Chairman)  [phone]

SP Angel Corporate Finance LLP   [phone]

Nominated Adviser and Joint Broker

Stuart Gledhill

Caroline Rowe

Peterhouse Corporate Finance   [phone]

Joint Broker

Lucy Williams

Fungai Ndoro

 

END

 

 

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