Joint Development Agreement - McLaren Electronics

RNS Number : 4423M

Transense Technologies PLC

16 August 2011

 



For Release: Tuesday 16th August 2011

Transense Technologies plc (the 'Company' or 'Transense')

Re Joint Development Agreement with McLaren Electronic Systems Ltd ('McLaren Electronics')

Transense is pleased to announce the signing of a Joint Development Agreement ('JDA') with McLaren Electronics. The JDA has been initially established to develop a product for a specific motorsport application and target customer. However, it is anticipated that further uses of Transense's patented SAW ('Surface Acoustic Wave') sensor technology will follow, in association with McLaren Electronics, both in automotive and non-automotive applications.

Graham Storey, CEO of Transense commented: "Transense collaborated closely with McLaren during 2009 on a torque sensing project in Formula 1. The project was technically successful with accurate real-time torque measurements being taken on a shaft rotating at up to 18,000 rpm under extremely harsh operating conditions. In light of the relationship established between the two companies during this project new applications are now being developed and we anticipate production on the initial project will start later this year. We are delighted to once again be working with a world renowned engineering company, and look forward to bringing our joint technology to new markets."

Dr Peter van Manen, Managing Director of McLaren Electronics, commented: "The potential of Transense's SAW sensor technology became apparent during our collaboration back in 2009.  Many of our senior engineers and technicians had exposure to the technology during this period and various sections of our organisation identified other potential applications. The signing of this JDA will allow us to develop these new applications in partnership with the Transense team that provided such a technically excellent solution for the Formula 1 torque sensing project."

For more information, please contact:

Transense Technologies plc       Tel: [phone]

Graham Storey, Chief Executive

Brewin Dolphin - Nomad

Neil Baldwin                                      Tel: [phone]

Hybridan LLP - Broker

Claire Noyce                                        Tel: [phone]

Notes to Editors

About McLaren Electronic Systems Ltd (MESL)

McLaren Electronic Systems develops, manufactures and deploys control and data systems for a worldwide professional motorsport market and for other automotive, transport and manufacturing applications. The company is Official ECU Supplier to the FIA Formula One World Championship and, from 2012, the Official Engine Control Unit for the NASCAR Sprint Cup.  It is an independent trading company of the McLaren Group, based in Woking, UK.

About Transense

Transense Technologies is a technology transfer company based in Upper Heyford, Oxfordshire,  UK.

Transense  develops  Surface  Acoustic  Wave (SAW), wireless, battery-less,  sensor  systems  in  partnership  with its licensees and partners, Honeywell,  Melexis,  Michelin,  SenGenuity,  Stack, Tai-Saw, Texas Instruments, SCHOTT, McLaren Electronic Systems and Carbon Motors.

Current applications include Tyre Pressure Monitoring Systems (TPMS) and torque systems for Electrical Power Assisted Steering (EPAS) and driveline management.

Transense is listed on the Alternative Investment Market of the London Stock Exchange (TRT)

www.transense.co.uk

 

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