Traction Technology PLC
31 May 2007
31 May 2007
TIDM: TRAC
TRACTION TECHNOLOGY PLC
('Traction' or 'the Company')
Pre-Close Operational Update
Traction Technology Plc, a designer and deliverer of environmentally friendly,
low emission Series Diesel Electric Hybrid engine systems, aimed initially at
the public transport sector, announces an operational update prior to the close
of its financial year to 31st May 2007.
Nick Brayshaw, Chairman of Traction Technology Plc, stated:
'The Company continues to work closely with a number of bus operators in the
further development and testing of its series hybrid engine systems. Currently
our engine systems are on trial with three separate bus companies in Merseyside,
Suffolk, and with Transport for London Operator Epsom Coaches. A fourth trial
with Arriva SC in the Sussex area is scheduled to commence shortly.
'Results from the Merseyside and Ipswich trials are expected within the next few
weeks and the Company will make further announcements in due course. Traction
is particularly proud that the Epsom trial bus's reliability enabled it recently
to achieve a mileage equivalent to a journey around the world.
'The Company successfully listed on AIM in December 2006, at which time it
raised £843,000, and the Company retains sufficient resources to continue
current levels of operation for the coming year.
'The Board remains confident in the Company's technology and firmly believes
that growing recognition of the environmental benefits that hybrid vehicles can
deliver, together with the success of its technology in independent trials,
leaves the Company well positioned for the future.'
Ends
Enquiries:
Traction Technology plc Beaumont Cornish Limited Parkgreen Communications
Nick Brayshaw, Chairman Roland Cornish Brendan McNamara / Lucy Lake
+44 (0) 1403 791392 +44 (0) 20 7628 3396 +44 (0) 20 7851 7480
www.ttplc.co.uk Mob: +44 (0) 7742 545 601
This information is provided by RNS
The company news service from the London Stock Exchange