Business
Award of Grant
Award of Grant.
About this update from Pipehawk Plc
[{"type":"text","content":"\n \n 21 February 2007\n\n PipeHawk Plc \n\n (\"PipeHawk\"or \"the Company\") \n\n Award of Grant \n\nThe Company announces that it, together with nine other pan-European partner\norganisations, have, in aggregate, been granted €2.15 million of funding from\nthe EU's \"Global Change and Ecosystems\" budget to develop an advanced Ground\nPenetrating Imaging Radar (\"GPIR\") technology for the location of utility\npipelines and assessment of the structural integrity of watermains.\n\nThe aim of the project is to develop GPIR equipment which, in addition to\npossessing enhanced pipe detection capabilities, is able to detect leaks and\ndamaged pipes and producing images of the damage. The total projected cost of\nthe project is €3.3 million.\n\nThe project is anticipated to be completed over a three year period and\nPipeHawk expects to generate revenues of approximately €162,000 over that\nperiod.\n\nPipeHawk's principal role will be to act on the Steering Committee with\nparticular responsibility for the implementation of the GPIR equipment into\ncommercial applications.\n\nGordon Watt, Chairman of PipeHawk, commented;\n\n\"Statistics show that water companies in Europe are losing as much as 40 per\ncent. of their water through pipe leakage. There are approximately 2 million km\nof water pipelines in the EU and there are on average 25 pipe breaks per 100 km\nper annum or 500,000 pipe breaks annually.\n\nThis is an exciting project which we believe is the first major GPR innovation\nthis century.\"\n\nPipehawk Plc 01420 590990\n \nGordon Watt (Chairman) \n \nJohn East & Partners Limited 020 7628 2200\n \nSimon Clements \n\n\n \n ","length":2518,"tagName":"div"}]