Business
Winner of 2014 Northern Star Business Award
Winner of 2014 Northern Star Business Award.
About this update from Plexus Holdings
[{"type":"text","content":"\n \nRNS Number : 9173S Plexus Holdings Plc 30 September 2014 \n \n\nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services\n30 September 2014\n \n \nPlexus Holdings PLC ('Plexus' or 'the Company')\nWinner of 'Commitment to Innovative Use of Research and Development' Award at the Northern Star Business Awards 2014 \n \nPlexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce that on 25 September 2014 it accepted the 'Commitment to Innovative Use of Research and Development' award ('the Award') at the 11th annual Northern Star Business Awards 2014, the flagship event for the Aberdeen & Grampian Chamber of Commerce. \n \nThe Award recognises Plexus' long standing commitment to research and development ('R&D') which underpins the growing success of Plexus' proprietary friction grip method of engineering called POS-GRIP®. Plexus was also nominated as a finalist in the Outstanding Contribution to the Energy Sector category in recognition of its pioneering, safer, more cost effective, reliable and technically superior wellhead based on its proprietary POS-GRIP® technology.\n \nThe Company continues to work on a number of on-going R&D projects, most notably a Joint Industry Project ('JIP') to develop and commercialise a new and safer subsea wellhead, utilising its patented POS-GRIP technology. Supported by a number of major oil and gas operators - BG, ENI, Maersk, Shell, Total, Tullow, and Wintershall, the JIP is focussed on developing a new subsea wellhead, HGSS, to address key technical issues and requirements highlightedby regulators following the Gulf of Mexico incident in April 2010. Plexus believes that this new design will in time be proven to be the best available and safest technology ('BAST') for subsea wellhead applications.\n \nCEO Ben van Bilderbeek said, \"This latest award, which follows the 'Best Oil and Gas Plc' award at the 2013 annual Stock Market Wire Awards and the 'Entrepreneur of the Year 2013' award at the annual Grant Thornton Quoted Company Awards, recognises Plexus' significant and ongoing commitment to investing in R&D. As a result of which, we have developed best-in-...