More good news from Transense Technologies and the share price rose by 9.5p to 70.5p.
A joint collaboration agreement with tyre manufacturer Bridgestone provides significant potential for the iTrack II system. Bridgestone, which previously ordered 50 iTrack II units, will be sales agent for Transense in the mining sector.
Bridgestone will adopt iTrack II as exclusive mining tyre monitoring system for large haul trucks and this will generate subscription revenues. It replaces Bridgestone’s own system.
The agreement initially lasts for 18 months and can be renewed for a further 12 months.
Bridgestone is providing an interest free loan of $750,000.
© 2019 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Omega Diagnostics will lose money this year, but it is on course to become profitable in 2020-21 as sales of the VISITECT CD4 test.
House broker Shore Capital has slashed its pre-tax profit forecast for engineer Tricorn Group by two-thirds to £420,000.
Evgen Pharma has entered into an agreement with The University of Dundee for the use of SFX-01 in a clinical trial in non-alcoholic steatohepatitis and liver fibrosis, where there is no existing treatment.