REG - Tan Delta Systems - New product development agreement with OEM

Tan Delta SystemsAnnouncement

09/08/2024 07:00

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RNS Number : 8010Z  Tan Delta Systems PLC  09 August 2024

Tan Delta Systems plc

("Tan Delta", or the "Company")

New product development agreement with OEM

 

Tan Delta (AIM: TAND), a leading provider of intelligent monitoring and
maintenance systems for commercial and industrial equipment, is pleased to
announce that it has entered into a non-exclusive new product development
agreement with a global engine OEM (the "Agreement").

The Agreement is for the development and commercialisation of a new real time
sensor (based on the Company's core technology) to monitor the condition and
degradation of aqueous fluids such as coolants, cutting fluids and water based
hydraulic fluids. The Agreement is worth approximately £200k which is
expected to be fully recognised in the current financial year ending 31
December 2024. The Company plans to have the product completed and ready for
live trials by the end of Q4 2024. Post this development phase, potential
revenue in the subsequent five years could exceed £2.0m.

Chris Greenwood, Tan Delta Systems, CEO said:

"I'm very excited about this development agreement as it aligns with our
strategic vision of expanding our intelligent monitoring capabilities whilst
utilising our existing core technology. In addition to opening new markets for
water-based fluids, this new sensor will give us the unique ability to monitor
all of the key fluids in an engine (fuel, oil and coolant) in real time giving
unparalleled insight into the operating condition of the underlying assets."

For enquiries, please contact:

 

 Tan Delta Systems plc                                            Tel: +44 (0) 845 094 8710
 Chris Greenwood, CEO

 Zeus (Nominated Adviser & Broker)                                Tel: +44 (0) 203 829 5000
 David Foreman, James Hornigold, Ed Beddows (Investment Banking)
 Nick Searle (Sales)

 

Notes to editors:

Tan Delta Systems PLC provides equipment monitoring technologies and
solutions that use real time oil analysis to enable material reductions in
maintenance costs, improve reliability and reduce carbon footprint.

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