Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
4 January 2019
Remote Monitored Systems plc ("Remote Monitored Systems", the "Company" or the "Group")
EU KEEP+ programme award
Remote Monitored Systems plc is pleased to announce that its wholly owned subsidiary, Geocurve, a specialist surveying and inspection business, has been successfully accepted into the EU's KEEP+ programme. In addition to modest financial support, Geocurve and the University of Essex will engage in ground breaking knowledge exchange, collaboration, contract research and innovation in the Virtual and Augmented Reality spaces (VR/AR). Geocurve through this initiative expects to be able to develop and introduce significant new high value products and services for both its current and future target clients.
Geocurve expects that this VR innovation with University of Essex has the potential to allow Geocurve's current and/or future clients to substantially reduce both cost and risk. Geocurve expects that by combining its specialist surveying, data processing, software development and problem solving with University of Essex's VR/AR specialist skills and innovation, Geocurve will be able to expand its commercial services into hazardous environments like nuclear, construction, natural or manmade disaster services and in particular in confined spaces, within storage tanks, caissons and underground reservoirs. The UK government (in a 2013 report by UK's nuclear decommissioning authority) predicted costs of £100bn+ to decommission the UK's existing nuclear sites. Through this programme Geocurve has the opportunity to develop unique, specialised services and potentially IP to offer to facilitate such decommissioning.
Trevor Brown, CEO of Remote Monitored Systems plc, congratulated Geocurve and University of Essex for securing this programme and its potential and he noted the prior success of Gyrometric (its majority held remote monitored system business division) has had in collaborating with the University of Nottingham. We are excited by this development and look forward to providing further updates in due course as the programme develops.
Remote Monitored Systems expects to provide the market with a trading update in respect of the year to 31 December 2018 next week.
Further information on Geocurve and KEEP+ can be found at www.geocurve.co.uk
Remote Monitored Systems plc
Trevor Brown (Executive Director) +41 7941 55384
Nigel Burton (Non-Executive Chairman) +44 7785 234447
SP Angel Corporate Finance LLP +44 20 3470 0470
Peterhouse Corporate Finance +44 20 7469 0930
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