Bicester sensor systems business reports solid trading as Bridgestone contract gathers momentum

Transense

Bicester-based Transense Technologies plc, the provider of specialist sensor systems, reported revenues of around £1.8 million in its latest trading update for the financial year ended 30 June 2021.

Transense develops, manufactures and licences advanced Surface Acoustic Wave (SAW) wireless and passive sensor systems to measure torque, force, pressure and temperature. The company sells its patented technology enables in the automotive, aviation, renewable energy, industrial machinery and marine sectors.

Founded in 1991 and listed on the AIM Market (UK AIM:TRT), we are the leader in patent-protected, highly specialised sensor systems and enabling technology for use in a variety of diverse high growth markets.

Its sensors are wireless, battery-less and are used in the real-time measurement of torque, temperature and pressure to improve power, performance and efficiency through condition monitoring and asset/predictive maintenance. This patent-protected technology offers significant advantages over alternative sensors, and is particularly targeted towards the aircraft, specialised automotive, renewable energy and industrial markets.

In June last year its iTrack technology, used for monitoring the tyre and vehicle performance of heavy-duty off-road vehicles, was licensed to Bridgestone Corporation for a ten-year term.

The rate of increase in the installed base of iTrack gathered significant additional momentum in the second half of the financial year, and especially in North America during the final quarter.

iTrack system capabilities continue to be enhanced under Bridgestone ownership as it becomes further embedded into its mining solutions business and the number of global long term contracts are being rolled out. This process is expected to accelerate following completion of Bridgestone’s proposed acquisition of Otraco International PTY Limited, a leader in tyre management solutions with an extensive service network in key markets such as Australia, Chile and South Africa.

Commercial relationships with existing key customers for Transense’s SAW technology are generating growth in revenues from technical support, engineering fees, and system sales.

Significant progress has also been made, with the support of the SAW Commercial Advisory Panel (SAWCAP), in identifying and evaluating several new potential applications across a range of industry sectors.

Translogik tyre probe revenues increased substantially, with year-on-year growth of around 50 per cent.