PipeHawk PLC
21 September 2004
For immediate release:
21st September, 2004
Pipehawk plc
('Pipehawk' or 'the Company')
NEGAS Agreement
PipeHawk is pleased to announce that it has signed an Agreement with NEGAS (a
consortium of New York and New England gas companies) to develop the next phase
of its handheld pipe locator project. NEGAS is contributing $156,000 towards the
cost of this phase of the project.
NEGAS has also entered into a confidentiality agreement with a prospective
commercial partner. This will allow the prospective partner to carry out a full
evaluation of the potential for commercialisation of the product. As a result of
the collaboration with NEGAS, Pipehawk will be entitled to receive approximately
40-50 per cent. of any royalties or licensing income arising from eventual
commercialisation.
This information is provided by RNS
The company news service from the London Stock Exchange