Transense AGM reports “huge progress”
Transense, the saw-wave RFID company that has developed the Translogik range of TPMS and related technologies, has made “huge progress” in the last three years. That’s the view of the firm’s board which released an AGM statement on 29 June lauded the businesses improvements. “Transense is now in a position to leverage its technological expertise and a much broader range of technical projects are now underway. In fact, there are more live development projects now than at any time in the company's history, such that the medium to long term future looks promising,” the statement explained.
When Transense re-jigged its board three years ago the company said it would take a while to refocus and regain its credibility. The first priority was to review and understand the company’s technical know-how and current commercial opportunities and then to ascertain the areas in the marketplace where potential customers would be found for that knowhow. Additionally, whilst Transense wanted to remain primarily an IP company, the board recognised that the company needed to develop a range of products in parallel with its R&D work, in order to generate sales and cash pending receipt of royalty income.
The company explained that some technical setbacks with the new Translogik products led to delays in bringing them to market and in turn “significantly negatively impacted our revenue forecasts for 2011.” However, the board confirmed that these technical issues “have now been largely overcome.” Nevertheless, the knock-on effect of the delay is that revenues from these products will be delayed to the back end of the year, if not slip into the next financial year.
On the up side the commercial opportunities for both products are said to have remained intact: “both the iTrack system and the iProbe offering features that cannot, to our knowledge, be matched by any competing products. The iTrack field trials are continuing and the iProbe has been well received by major global tyre manufacturers, as they begin to release their new RFID enabled tyre ranges.”
The hope is that “formal agreements” will be entered with these global tyre makers (Goodyear for example has already been publicly linked to the firm’s RFID/TPMS technology) during the second half of 2011.