Sondex PLC
24 November 2005
Sondex and Beta R&D secure
Government grant for new battery technology
Sondex, the British oilfield technology group announced on 17 March 2005 that it
had signed an agreement with Beta Research & Development covering exclusive
rights to advanced battery technology for use in the downhole oil, gas, water
and geothermal industries. Beta R&D is currently refining the battery technology
while Sondex is developing the associated electronics and packaging.
Today, Sondex and Beta R&D are pleased to announce that they have secured a UK
Government grant for the development of this new power source for downhole
instrumentation.
The financial grant of £199,000 has been made by the Department of Trade and
Industry's Innovation Group under its Technology Programme. Shared equally by
Sondex and Beta R&D, the money will be used in the development of rechargeable,
high temperature battery technology.
The technology has been pioneered by Beta R&D at its centre in Derby. The new
battery is being designed to provide a cost effective, robust and reliable
alternative to the lithium batteries that are currently used for memory tools by
downhole operators within the oil and gas industry.
When commercialised, the battery will complement the Sondex range of downhole
tools that includes sophisticated logging, cutting and transportation
technologies.
Martin Perry, Chief Executive of Sondex, said: "We are grateful to the DTI for
assisting us with this important development work. We believe there is a
significant worldwide market potential for this battery technology."
Roger Bull, Managing Director of Beta R&D, commented: "This grant will provide
further impetus to our development work. I believe it is also Government
recognition of the potential importance of the technology."
For further information:
Guy Mason, Wireline Technical Director, Sondex 0044 (0) 118 932 6755 gmason@sondex.com
Jim Sudworth, Technical Director, Beta Research 0044 (0) 1332 770500 jlsudworth@betard.co.uk;
& Development
Claire Kennedy, Press Officer, Department of 0044 (0) 207 215 6140 Claire.Kennedy@dti.gsi.gov.uk
Trade & Industry (Technology Programme)
This information is provided by RNS
The company news service from the London Stock Exchange
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