Transense Technologies PLC Significant iTrack Order (2849Q)

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RNS Number : 2849Q

Transense Technologies PLC

18 February 2019

Transense Technologies plc

("Transense", the "Company" or the "Group")

Significant iTrack Order

Transense Technologies plc, the provider of sensor systems for the industrial, mining and transportation markets, is pleased to announce that a customer (the "Customer") has placed an order for 50 iTrack II units for installation in mines in North America.

Graham Storey, CEO of Transense, commented: "We are delighted with this new relationship. The Customer is a major supplier to the mining marketplace and their decision to adopt iTrack II after extensive testing is a very gratifying endorsement of the capabilities of Translogik and the iTrack II system. While there is no actual further commitment in place, we anticipate that sales to the Customer will reach very substantial levels by the end of our next financial year. We look forward to working closely with them both providing iTrack II to their customers and also developing further enhancements and improvements in the future."

For further information please visit www.transense.co.uk or contact:

 
 Transense Technologies plc               Tel: [phone] 
  Graham Storey, Chief Executive 
 finnCap                                  Tel: [phone] 
  Ed Frisby, Giles Rolls (Corporate 
  Finance) 
  Tim Redfern (ECM) 
 IFC Advisory                             Tel: [phone] 
  Tim Metcalfe, Graham Herring, Heather 
  Armstrong 
 

About iTrack II

The iTrack II Mining system provides fast, accurate, reliable real-time data on the condition of the tyres, combined with live tracking of vehicle location and status. Our 24/7 Control Room monitors the pressures and temperatures live, and this information can, for example, be used to ensure tyres do not exceed critical heat thresholds, detect incorrect load distributions, predict suspension failures, eliminate manual tyre pressure checks and much more. All of these benefits increase health and safety as well as reducing maintenance and downtime, which maximises the hours a truck is working (On-Road Truck Working Hours), which directly correlates to an increase in production.

Existing iTrack users have reported increases in tyre life of up to 30% and fuel savings of up to 3%. Savings of this magnitude provide a rapid return on investment with the iTrack system paying for itself on a subscription basis from day one.

www.trans-logik.com/itrack-2/

About Transense Technologies

Based in Oxfordshire, UK, Transense has developed patent-protected sensor systems and supporting technology for use in a variety of diverse high growth markets. Transense's Surface Acoustic Wave (SAW), wireless, battery-less, sensor systems offer significant advantages over legacy wireless sensor systems. Transense is targeting the transport and mining industries, and the global torque, temperature and pressure sensing markets, via its trading divisions, Translogik and SAWSense.

Transense's shares are admitted to trading on AIM, a market operated by the London Stock Exchange (AIM: TRT).

www.transense.co.uk

The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

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February 18, 2019 02:00 ET (07:00 GMT)