15th Dec 2005 08:17
Pursuit Dynamics PLC15 December 2005 15 December 2005 Pursuit Dynamics plc Grant of Global, Exclusive Licence to Tyco Pursuit Dynamics plc ("Pursuit"), the developer and licenser of the innovativeand patented PDX(R) technology, which has applications across a broad range ofindustries is pleased to announce that it has executed a licensing agreementwith Tyco Fire & Building Products ("Tyco"), a division of Tyco InternationalLtd (NYSE: TYC; BSX: TYC) Under the terms of the agreement, Pursuit has grantedTyco an exclusive license to manufacture and market the PDX FireMist(R)?("FireMist") fire suppression technology worldwide. The licensing agreementanticipates initial royalty revenues to flow through to Pursuit in approximatelyone year. Pursuit has spent over two years developing the water mist-based FireMisttechnology and the system has been proven to be extremely effective during livefire trials. The FireMist technology produces a higher volume of smaller waterdroplets than any other available system and this, coupled with its continuousflow and projection capabilities, results in a superior suppression performancewhen compared to conventional water mist systems. The use of water mist as a fire suppression technology has grown rapidly inrecent years largely due to regulatory pressures that initiated the phase-out ofHalon based systems and safety concerns over the installed base of CO2 systems. Water mist suppresses fires through two main mechanisms: cooling and inerting.Both mechanisms benefit from the smallest possible water droplets; the smallerthe droplet the greater the surface area generated from a quantity of water, thefaster its evaporation and greater its cooling impact. Conventional water mistsuppression systems typically produce droplets around the 50 micron range;FireMist produces droplets below five microns. Rick Klipp, Tyco Fire and Building Products, Senior VP, Sales and Marketingstates; "We are pleased to have the opportunity to work with this exciting newtechnology. As the leader in water based fire protection, we believe we are wellpositioned to utilize the PDX system in fire protection design and application.FireMist will offer numerous applications for protecting both life and propertyfrom the hazards of fire." Commenting, John Heathcote, Chief Executive, said, "This is our first globallicensing agreement. Fire suppression is an enormous market worldwide and forthe clear market leader to have adopted our PDX technology is a fantasticendorsement of its potential to become the next generation system of choice. Webelieve this agreement could generate very significant revenues for Pursuit." Tyco International Ltd. is a global, diversified company that provides vitalproducts and services to customers in five business segments: Fire & Security,Electronics, Healthcare, Engineered Products & Services, and Plastics &Adhesives. With 2005 revenue of $40 billion, Tyco employs approximately 250,000people worldwide. More information on Tyco can be found at www.tyco.com. Tyco Fire & Building Products is a leading manufacturer of water-based firesuppression system components and ancillary building construction products,distributing more than 28 million sprinklers worldwide every year servingcustomers in residential, commercial, industrial, and institutional buildingprojects. -ends- Enquiries:John Heathcote, Chief Executive Simon Hudson, Richard Sunderland,Gary Pyle, Finance Director Rachel DrysdalePursuit Dynamics plc Tavistock CommunicationsTel: +44 (0)1763 250592 Tel: +44 (0)20 7920 3150 www.pursuitdynamics.com NOTES TO EDITORS Pursuit Dynamics plc owns, and is developing, a patented platform technologywith the potential to revolutionise manufacturing techniques across numerousindustries. Pursuit Dynamics operates as a research and development andlicensing company and has already proved the application of its system in thefood industry. Its PDX(R) Sonic fluid processing product, which is a highly efficient systemfor use in the manufacture of prepared foods and soft drinks, was launched inJanuary 2005 and has been licensed to a number of leading industry playersincluding Campbell Grocery Products Ltd, Premier Foods, Geest Foods Ltd,Verstegen Spices and Sauces BV and Coca Cola Enterprises Ltd. Licenses have alsorecently been signed in the US and Central America. Other potential industry applications under development include applications forwaste treatment, brewing, oil, and pulp and paper. In addition to its almost universal applicability to process flow manufacturingindustries, the technology has been adapted to address the very large marketsfor fire and explosion suppression. FireMist(R), Pursuit Dynamics' patentedproduct, the most effective of all commercially available water mist productionand distribution systems, can successfully extinguish Class A and B fires inbuilding and aircraft simulation fire tests. In July 2005, PDX announced the signing of a one year contract with DARPA, a USgovernmental defence research agency to use its PDX(R) Basilisk decontaminationsystem. The system has a number of applications for disinfection, human andanimal healthcare and in the defence industry, principally in chemical andbiological defence applications. The core technology is based on a steam-driven supersonic shockwave producingcontrollable mixing, heating and flow rates. Pursuit Dynamics is headquartered in Hertfordshire UK and has a US office inDarien, Connecticut. It is quoted on the AIM market of the London Stock Exchange(ticker: PDX). This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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