Strat Aero PLC (LON:AERO) Chairman Nigel Burton will make the following statement at today’s AGM
The Company’s principal subsidiary, Geocurve Limited, is making excellent progress towards delivering the first phase of the multi-sensor surveying and data delivery as part of the Environment Agency’s Thames Estuary Asset Management 2100 (TEAM2100) programme, which combines innovative technology-based surveying with 3D mapping and Virtual Reality (VR) data representation. Discussions are continuing with a number of agencies and businesses interested in contracting Geocurve’s services and we expect to report further as matters progress.
With the assistance of the University of Essex, Geocurve is currently developing innovative virtual reality 3D technology which is anticipated to enable it to offer considerably enhanced environmental and industrial applications to its markets.
Gyrometric Systems Limited, has recently completed a very successful trial at the ORE (Offshore Renewable Energy) Catapult centre, using its monitoring technology to collect data which can be used to improve operating efficiency, reduce maintenance and increase output of wind turbines. The commercial application of this technology to existing and new wind turbines is now the main focus of this business.
The strong new business prospects at both Geocurve and Gyrometric allow the Strat Aero board to look forward to the future with optimism.
The Board continues to examine opportunities to grow both organically and through acquisition of complementary businesses and technologies which can enhance growth in shareholder value.
29 June 2018