AGM Statement
28th Mar 2008
Pursuit Dynamics plc (AIM: PDX), the developer and exploiter of the PDX platform
technology, will be holding its Annual General Meeting this morning at 11.00am.
In his address to shareholders, Chairman, Mr. Andrew Quinn will update
Shareholders as follows:
"Pursuit Dynamics continues to make progress in line with our stated strategy.
We remain confident of the Company\'s prospects in the current year to 30
September, and beyond, and I am pleased to report good progress on all fronts
of the business.
"As mentioned at the last AGM, our primary Research and Development programme
during 2007 has been focused on bioethanol production. As has been reported
during that period, the results and progress of this programme have been both
dramatic and swift. Today, just 16 months after the programme commenced, the
first full scale production PDX Ethanol Reactor Tower is being installed in
Pacific Ethanol\'s Boardman facility in North East Oregon, USA. Boardman is a
40 million gallon per year ethanol plant and we expect revenues from this
installation to start within the current financial year. To get to this point
in such a short period of time is testament to the dedication of our staff and
demonstrates the truly dynamic nature of your Company. We are receiving an
encouraging level of enquiries and aim to be in a position to generate
additional system sales in the coming months.
"Tyco Fire and Building Products is maintaining progress towards launching a
fire suppression system based on our revolutionary FireMist(R) technology and
we expect revenues to commence during this financial year. We continue to
work with partners to develop our PDX Basilisk decontamination technology and,
further to the announcement in December 2007 relating to the award of a
contract from a US Government Contractor for this technology, I am happy to
inform you that the contractor has now taken up its option to extend the
development programme, which sees the value of the contract rise from
US$185,000 to US$540,000.
"In Food and Brewing, we are pleased to announce that we are now supplying
second systems to both Premier Foods and Shepherd Neame. This follows the
successful implementation of their initial systems.
"In 2008 we have continued to focus our Research and Development efforts in
areas where the PDX technology demonstrates either a technical or commercial
advantage. Our primary efforts are on our bioethanol, decontamination and
enhanced atomisation system programmes, which represent our shortest revenue
horizons. In addition we are also actively involved in a number of other areas
including the manufacture of drilling muds, oil sands separation, soil
remediation, blast mitigation and the broad field of starch hydrolysis."
