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Tan Delta Systems PLC (LSE:TAND), recognized for its intelligent monitoring and maintenance systems for commercial and industrial equipment, has announced a new product development agreement with a global engine OEM. This non-exclusive agreement involves the creation and commercialization of a new real-time sensor designed to assess the condition and degradation of aqueous fluids such as coolants, cutting fluids, and water-based hydraulic fluids. The contract is valued at approximately £200,000, expected to be recognized in the current financial year ending 31 December 2024.
Development Timeline and Potential Revenue
The development of the new sensor is scheduled for completion and live trials by the end of Q4 2024. Following this development phase, the potential revenue from this sensor over the next five years could exceed £2.0 million. This projection underscores the anticipated market value and long-term financial benefits associated with the new product.
CEO’s Perspective
Chris Greenwood, CEO of Tan Delta Systems, expressed enthusiasm about the agreement, noting its alignment with the company's strategic goals. The development of this sensor not only leverages existing core technology but also aims to broaden market applications to include water-based fluids. The sensor is expected to enhance the company's capabilities in real-time monitoring of key engine fluids, such as fuel, oil, and coolant, thereby providing deeper insights into the operational condition of engine assets.
Contact Information
For further inquiries, Tan Delta Systems PLC can be contacted at +44 (0) 845 094 8710. Chris Greenwood, CEO, is available for additional information.
Zeus, the nominated adviser and broker, can be reached at +44 (0) 203 829 5000. Key contacts include David Foreman, James Hornigold, and Ed Beddows in investment banking, and Nick Searle in sales.
About Tan Delta Systems
Tan Delta Systems PLC specializes in equipment monitoring technologies and solutions that utilize real-time oil analysis. The company’s technologies aim to reduce maintenance costs, improve equipment reliability, and lower carbon footprints by providing detailed insights into equipment conditions.
