28th Mar 2008 07:02
Pursuit Dynamics PLC28 March 2008 28 March 2008 Pursuit Dynamics PLC ("the Company") AGM Statement Pursuit Dynamics plc (AIM: PDX), the developer and exploiter of the PDX platformtechnology, will be holding its Annual General Meeting this morning at 11.00am.In his address to shareholders, Chairman, Mr. Andrew Quinn will update Shareholders as follows: "Pursuit Dynamics continues to make progress in line with our stated strategy. We remain confident of the Company's prospects in the current year to 30 September, and beyond, and I am pleased to report good progress on all fronts of the business. "As mentioned at the last AGM, our primary Research and Development programme during 2007 has been focused on bioethanol production. As has been reported during that period, the results and progress of this programme have been both dramatic and swift. Today, just 16 months after the programme commenced, the first full scale production PDX Ethanol Reactor Tower is being installed in Pacific Ethanol's Boardman facility in North East Oregon, USA. Boardman is a 40 million gallon per year ethanol plant and we expect revenues from this installation to start within the current financial year. To get to this point in such a short period of time is testament to the dedication of our staff and demonstrates the truly dynamic nature of your Company. We are receiving an encouraging level of enquiries and aim to be in a position to generate additional system sales in the coming months. "Tyco Fire and Building Products is maintaining progress towards launching a fire suppression system based on our revolutionary FireMist(R) technology and we expect revenues to commence during this financial year. We continue to work with partners to develop our PDX Basilisk decontamination technology and, further to the announcement in December 2007 relating to the award of a contract from a US Government Contractor for this technology, I am happy to inform you that the contractor has now taken up its option to extend the development programme, which sees the value of the contract rise from US$185,000 to US$540,000. "In Food and Brewing, we are pleased to announce that we are now supplying second systems to both Premier Foods and Shepherd Neame. This follows the successful implementation of their initial systems. "In 2008 we have continued to focus our Research and Development efforts in areas where the PDX technology demonstrates either a technical or commercial advantage. Our primary efforts are on our bioethanol, decontamination and enhanced atomisation system programmes, which represent our shortest revenue horizons. In addition we are also actively involved in a number of other areas including the manufacture of drilling muds, oil sands separation, soil remediation, blast mitigation and the broad field of starch hydrolysis." For Further Information, please contact: Pursuit Dynamics PLCAndrew Quinn, Chairman Tel: +44 (0)1480 422050 Redleaf CommunicationsEmma Kane / Paul Dulieu Tel: +44 (0)20 7822 0200 Cenkos Securities plcIan Soanes Tel: +44 (0)20 7397 8924 Notes to Editors • Pursuit Dynamics PLC (AIM: PDX) owns and commercialises the PDX(R) fluid processing reactor whose benefits include significant reductions in energy usage, process acceleration and result enhancement for industries such as Bioethanol production, Food & Drink, Brewing, Fire Suppression and Decontamination. • Pursuit Dynamics is headquartered in Huntingdon, UK and has an office in Norwalk, Connecticut, USA. Pursuit Processing Equipment Limited, the processing equipment division of Pursuit Dynamics, operates from its own facility in Brooklands, Surrey, UK. • Further information is available at the Company's website: www.pursuitdynamics.com • Publication quality photographs are available from Redleaf Communications This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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