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PARO Paros

0.055
0.00 (0.00%)
08 Jan 2025 - Closed
Delayed by 15 minutes
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

ParOS to be granted US Patent

09/01/2008 12:59pm

UK Regulatory


    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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