Reach - a non-regulatory announcement
3 May 2023
Transense Technologies plc
("Transense" or the "Company")
New Automotive eDrive Business Contract
Transense Technologies plc (AIM: TRT), the developer of specialist sensor systems, has secured a new development project with a tier one automotive electric propulsion systems business (the "Customer"). The Customer will work with the Company to investigate the application of the Transense SAW sensor technology in its electric motor drive or eDrive systems; measuring the output torque of its electric motor and the ability for it to be used in the control of its system. The development work will be funded by the Customer.
This new development project builds on the work carried out by the Company to understand the potential benefits of bringing motor output torque and rotor temperature into the control loop of automotive eDrive systems. The Company has separately commissioned electric motor and transmission development experts Drive System Design Limited to carry out a series of simulation studies to increase the Company's understanding of this application.
Whilst the initial scope of work under this development project is not financially material to Transense, if successful these projects could lead to SAW technology being built into series production eDrive systems, which would be a significant new application of the Company's technology.
Ryan Maughan, Business Development Director at Transense, commented: "This is the second customer-funded program applying SAW technology in electric motors that Transense has secured in the past 12 months. We are seeing a strong market pull for SAW technology in eDrive systems, with several other programs under discussion with major global OEMs and Tier one companies to deliver improved performance, functional safety and efficiency by using SAW torque and temperature sensing technology."
For further information please visit www.transense.com or contact:
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Notes to Editors: Transense is headquartered in Oxfordshire, UK and its shares are traded on AIM, a market operated by the London Stock Exchange (AIM: TRT). The Company develops and supplies wireless sensor technology and systems, and currently has three business segments: SAW - patent protected Surface Acoustic Wave sensor technology that provides real time measurement of torque, temperature, pressure and strain, and is used to improve efficiency, performance, safety and sustainability of propulsion systems and machinery. Current focus is the development of a pipeline of high calibre customers and collaborative partnerships for a variety of applications in electric drives, aerospace, industrial machinery (including off-highway and robotics) and high performance automotive sectors. Translogik - smart, connected commercial vehicle tyre inspection equipment, used by vehicle fleets to more easily gather and maintain accurate tyre safety and condition data; and, iTrack - a tyre monitoring system for off-highway vehicles, licensed exclusively to Bridgestone Corporation, the world's largest tyre producer, under a ten-year deal expiring in 2030. For further information please contact transense@walbrookpr.com
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