Transense Technologies plc (LON:TRT) Chief Executive Officer Graham Storey caught up with DirectorsTalk to discuss the ideal uses for their surface acoustic wave technology and the benefits of the I-Track system
Q1: Now you’re due to release your results for the year to 30th June on the 21st September but you recently announced a licencing agreement with GE for certain applications of your surface acoustic wave technology following the deal with Emerson last year. Now this seems to be a technology with multiple applications and potential customers, can you tell us a little more about it and the areas where we might see it being used in the future?
A1: Certainly. Surface acoustic wave sensors measure torque, temperature and pressure and that can be individually, not necessarily all at the same time and the special thing about that technology is that it doesn’t require a power source of its own, that means that there’s no wires or batteries required. That makes the sensor ideal for rotating components such as gear boxes and engines, most people think of engines as automotive, car engines, but of course that also encompasses a myriad of other applications in other sectors such as industrial, marine, aerospace. The other ideal application is in hazardous environments where wires and batteries could introduce their own problems, the Emerson use of our technology is in a high voltage environment where having either wires or batteries can create arcing and onerous difficulties in changing batteries or onerous requirements to change batteries.
Q2: Looking at other parts of the Transense Technologies business, you’ve said that growth in Translogik has been held back by difficult conditions in the mining sector, but your tyre management solutions can significantly reduce costs for mine operators. Can you tell us more about these products and what do they do and how you see this business developing?
A2: Well we all know how tough mining has been over the course of the last couple of years, however during that period we have clients who’ve reported achieving significant advantages by using the I-Track system. One of the mines that we supply in Chile with 40 odd trucks has reported a saving on tyre expenditure per annum of over $1 million which is really quite significant, another mine in Chile has managed to increase the average speed of their trucks by 20% which has led to considerable, that’s their terminology, increase in production. Our job really now is to get this message across to other parts of the industry and as there appears to be an uptick we’re optimistic for the future adoption of I-Track.
Q3: Now the focus of Transense Technologies is obviously on a variety of sensor technologies but with a strong cash balance, will you be looking to branch out into other sectors or will the focus remain on the current areas?
A3: Definitely not looking to branch out to other areas for the time being, our focus is to remain entirely on our current business strategy.
