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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Paros | LSE:PARO | London | Ordinary Share | GB00B0LMGR34 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.055 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
9 January 2008 ParOS plc ("ParOS" or the "Company") ParOS to be granted US patent ParOS, the AIM listed technology company, has today received confirmation from the United States Patent and Trademark Office that the Company is to be granted a US patent for its parametric Model Predictive Control ("MPC") technology and optimised advanced control solutions. Subject to the completion of various administrative formalities, the US patent is expected to be formally issued in the next few months. The patent relates to ParOS' core technology, whereby, a process can be controlled on-line using a control solution derived off-line by multi-parametric programming techniques. Following the formal grant of the European patent which was announced in October 2007 ParOS has completed the process which allows the grant of certain national patents. ParOS now holds national patents with a life of 20 years in the UK, France, Germany, Italy, Greece and Switzerland. Patrick McHugh, Chairman of ParOS, said: `The grant of a US patent for ParOS in addition to the European patents are an important stage in the commercialisation of our technology. The US patent is expected to enhance the Company's ability to develop prototypes and to generate sales'. For Enquiries: ParOS Patrick McHugh Tel: 020 3008 8223 John East & Partners Limited (Nominated Adviser) Simon Clements Tel: 020 7628 2200 Square1 Consulting Limited Mike Feltham Tel: 020 7929 5599 Background Information on ParOS ParOS advanced optimisation and control solution technologies have been developed by a team, led by Chief Technology Officer, Professor Pistikopoulos, at Imperial College's Centre for Process Systems Engineering, over the last 15 years. In October 2007 ParOS was formally granted European Patent EP1399784 for the use of its parametric Model Predictive Control ("MPC") technology. ParOS became a spin-out company from Imperial College in January 2002 providing energy saving advanced optimisation and control solutions to industry. In March 2006 ParOS plc was admitted to trading on AIM with a view to commercialising its existing technologies and to utilising its intellectual property pipeline agreement with Imperial College. Advanced control, referred to as MPC, is achieved by repeatedly solving optimisation problems online to determine the best control action, given the sensor measurements at any given time and a desired target value for these measurements. Until now providing hardware and software applications to support MPC has been expensive and time consuming. ParOS technology overcomes these obstacles using parametric optimisation techniques to determine MPC solutions offline that run online with low cost process controllers. ParOS' solutions are currently installed in the Automotive (Active Valve Train and Van Refrigeration) and the Process (Air Separation Systems) Industries. For further information please visit www.parostech.com END
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