Business
Award of Grant
Award of Grant.
About this update from Surface Transforms Plc
[{"type":"text","content":"\n Surface Transforms PLC\n15 November 2005\n\n\n To be embargoed until 7.00am\n 15 November 2005\n\n\n Surface Transforms Plc\n ('Surface Transforms' or 'the Company')\n\n Award of £200,000 Research & Development Grant\n\nSurface Transforms plc, manufacturers of carbon fibre reinforced ceramic (CFRC)\nmaterials, is pleased to announce the award of a Grant for Research and\nDevelopment from the English Northwest Development Agency.\n\nThe Grant has a maximum value of £200,000 and the development project is\nrequired to be completed by November, 2008.\n\nThe purpose of the Grant is to enable the Company to develop a lower cost\napproach to the manufacturing processes, for the company's lightweight, CFRC\nbrake system for automotive applications. CVIST, MIST and ST Preforms are trade\nnames for the key process technologies in the Company's patented manufacturing\nprocess.\n\nOnce the project is completed, the Company expects to benefit not only from\nlower unit cost of a brake disc, but also from shorter process times, which in\nturn will help to reduce the levels of inventory required. Another key benefit\nis that the Company will be better positioned to provide turnkey solutions to\nthird parties wishing to license the technology.\n\nCurrent automotive brake disc capacity at Surface Transforms is approximately \n3000 brake discs per annum.\n\nDr.Kevin Johnson, Managing Director of Surface Transforms plc, said:\n\n'The grant from the Northwest Development Agency is most welcome as it is\nfocused on advancing brake disc technology which I believe is unique in the UK.\n\nFurthermore, the knowledge acquired through developing a lower cost\nmanufacturing process will make it considerably easier for Surface Transforms\nto license its proprietary technology to European and US automotive car and\nbrake system manufacturers.'\n\nFor enquiries, please contact:\n\nSurface Transforms plc John East & Partners Limited(Nomad)\nDr. Kevin Johnson 0151 373130 Johnny Townsend, Simon Clements\nMr. Kevin D'Silva 07802 306956 0207 628 2200\n\n Teather & Greenwood(Broker)\n Mark Dickenson, Sindre Ottesen\n 0207 426 7775\n\nDetails of the Company's business and financial performance and its share price\ncan be found on www.armshare.com which is accessed from the Armshare icon on\nwww.surface-transforms.com.. A webcast of the 2005 results ...