24th Nov 2005 13:11
Sondex PLC24 November 2005 Sondex and Beta R&D secureGovernment grant for new battery technology Sondex, the British oilfield technology group announced on 17 March 2005 that ithad signed an agreement with Beta Research & Development covering exclusiverights to advanced battery technology for use in the downhole oil, gas, waterand geothermal industries. Beta R&D is currently refining the battery technologywhile Sondex is developing the associated electronics and packaging. Today, Sondex and Beta R&D are pleased to announce that they have secured a UKGovernment grant for the development of this new power source for downholeinstrumentation. The financial grant of £199,000 has been made by the Department of Trade andIndustry's Innovation Group under its Technology Programme. Shared equally bySondex and Beta R&D, the money will be used in the development of rechargeable,high temperature battery technology. The technology has been pioneered by Beta R&D at its centre in Derby. The newbattery is being designed to provide a cost effective, robust and reliablealternative to the lithium batteries that are currently used for memory tools bydownhole operators within the oil and gas industry. When commercialised, the battery will complement the Sondex range of downholetools that includes sophisticated logging, cutting and transportationtechnologies. Martin Perry, Chief Executive of Sondex, said: "We are grateful to the DTI forassisting us with this important development work. We believe there is asignificant worldwide market potential for this battery technology." Roger Bull, Managing Director of Beta R&D, commented: "This grant will providefurther impetus to our development work. I believe it is also Governmentrecognition of the potential importance of the technology." For further information: Guy Mason, Wireline Technical Director, Sondex 0044 (0) 118 932 6755 [email protected] Jim Sudworth, Technical Director, Beta Research 0044 (0) 1332 770500 [email protected];& Development Claire Kennedy, Press Officer, Department of 0044 (0) 207 215 6140 [email protected] & Industry (Technology Programme) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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