I first heard about PDX at Xmas, and having looked into their...

I first heard about PDX at Xmas, and having looked into their products, have to
admit it does look like a decent company, with excellent prospects, possibly in
the near to mid term.

Listed on London's Alternative Investment Market, Pursuit Dynamics plc holds
the detailed intellectual property rights of the Pursuit Marine Drive and
associated technologies. The company was formed to develop the concept through
to market.

Pursuit Dynamics maintains a significant technical resource at Royston in the
UK, where product development takes place. The Headquarters include a state-of-
the-art design, testing and analysis facility which is run by a highly
qualified specialist team.

Pursuit Dynamics welcomes the approach of innovative partner organisations,
particularly in the field of steam generators and boat manufacture.



The chart doesn't tell the whole story here, but is worth posting to follow the
progress of PDX in the future.




a canadian article

New Steam Technology Story and pictures from www.pursuitdynamics.com
Pursuit Dynamics plc, a UK based research and development company, has
announced a revolutionary new steam-based technology that has applications in
both pumping and marine propulsion.

The Pursuit Marine Drive is a marine propulsion unit that utilizes steam energy
in a novel manner. It is based on an invention that showed that practical
thrust could be generated by the injection of steam through a nozzle into water
when assisted by the introduction of air. The potential efficiency is
substantially above current propeller driven systems, however, the device has
no rotating underwater parts, is very quiet, virtually impossible to block, and
will be cheap to manufacture. The potential environmental advantages are
significant with reduced combustion emissions, no oil requirement, as well as
the reduction in harm to marine life. Whilst being designed to directly replace
existing propulsion systems, with no connecting shafting it also has the
potential to revolutionize craft design and operation.

The world pump market was worth an estimated $26.5bln in 2000 and is forcasted
to rise to over $34bln by 2006.

Within that substantial growth there are industries such as
chemical/oil/gas/electronics and paper&pulp that are expected to order less in
the near term due to their own outlook.

Interestingly, given the high interest from the water markets, this is an area
expected to show significant growth together with the food, pharmaceuticals,
wastewater and mining industries.

The global pumping market is highly fragmented with over 1,000 producers of
some form of pump. The five majors are located in US/Japan and Germany but they
source globally as well as having differing markets. Critical to Pursuit will
be identifying suitable partners within the fragmented marketplace.
Of the $26.5bln pumping market an estimated $10bln is related to water/sewage
pumping.This is spilt with $4.5bln relating to water supply and $5.5bln to
wastewater pumping. It is the water and sewage markets that should prove early
adopters of the PDX technology.

With the PDX pump's good reception is anticipated that the first licence
revenue will be recieved this year, and due to minimal development required,
first commercial revenues are derived within 6 months of the licence award.
When Numis gave a £1.50 target price for Pursuit earlier this year this was
based purely on the sewage and water pumping market (worth $10bln) as their
base.

The growth in this market alone is above 5% but a conservative 2% annual
compound growth for the market was used.
Assuming initially minimal penetration it is assumed the PDX technology will
take a 2.5% penetration in 10 years - with significant weighting to the back
end.

In hot Pursuit

Durlacher is recommending AIM-quoted Pursuit Dynamics (AIM:PDX) as a buy at 32p
and reckons the shares are going to give investors an ‘impressive ride’ in the
future.

The company recently placed 1.9 million shares for a net £500,000, representing
5% of the existing share capital.

The balance sheet weakness before the cash injection was a barrier to the
adoption of the technology by some of the bigger players. Funds raised now give
Pursuit the cash to exploit its steam-based pump, which can replace other
process devices. It also enables Pursuit to employ a business development
director to drive sales.

‘Pursuit’s innovative technology has a wide range of applications and investors
should climb aboard,’ says Durlacher

PDX are on the move! (See chart at top)
===========================================

Steam implosions power novel pump

Tom Shelley reports on a novel steam ejection pump which can handle fluids with
entrained solids or gases

An ejector pump, which uses steam to achieve high flow rates - even when the
fluid contains large amounts of solids - can offer flow rates of up to 45,000
litres/hr and pressures of more than 9m water gauge. Overall system
efficiencies are claimed to be more than 30%, compared with 6 to 15% for
conventional pumping systems.
The pump, which is suitable for pumping any liquid-based mixture, is also
being seriously considered for powering marine craft. Steam ejection pumps are
an old idea, taking momentum from expanding steam to pull fluid through a tube.

However, Pursuit Dynamics, a small company based in Royston, has developed a
new spin on the idea, by injecting the steam through the tubular walls of the
unit instead of down the centre. In addition, by introducing a second fluid
through a ring of ports behind the steam injection annulus, it is possible to
use the device to mix a second fluid into the pumped flow. Chief technical
officer Mike Todman informs us that as well as transferring momentum, the new
design uses the implosion of condensing steam as an additional source of
energy.
The PDX pump, as it has been christened, uses a parallel-sided working tube,
unlike traditional steam ejectors, which tend to use a Venturi shape. The basic
design was originally patented by Alan Burns in Australia in 1999. He sold his
intellectual property to Pursuit Dynamics which has subsequently improved the
efficiency of the basic design with the help of CFX computational fluid
dynamics software.
The pump can, for example, be configured so that a standing supersonic
shockwave macerates fluid borne solids. The company has been pursuing three
main market areas with the technology. One uses it as the basis of a marine
propulsion systems, while the other two use it as a pump for chemical or
physical processing. Chemical processes include the entrainment of
hydrocarbons, dyes, powders, chemical dosing and bio gas. Entraining air can
reduce frictional effects, reduce density, change viscosity and oxygenate
water. Physical processing includes the ability to macerate or soak solid
matter passing through the pump by way of the shockwave effect. The device
currently exists as two prototypes, one under test and investigation as a pump,
and the other as a digester unit. Steam is supplied by a commercially available
steam generator.
The prototype pump, with a flow capacity is 45,000 litres per hour, has a 47mm
bore and is mounted in a 30m long, 63mm diameter pipe system. It has shown
itself capable of passing rope, wallpaper waste, vegetable matter, cloth, sand,
gravel, wood chips and latex gloves. The pump pressure depends on the applied
steam pressure, but at 4.5 bar steam pressure, water head is over 9m at 40%
maximum flow. The argument about relative efficiency is based on overall system
energy efficiency. For example, while an electric motor driving a pump may have
95% efficiency, the energy efficiency of a typical power station is about 35%,
with a further 10% loss in transmission, reducing overall efficiency at the
pump shaft to about 30%. If this is coupled to a conventional high-solids
capability pump, with an efficiency of 20 to 50%, overall system efficiency is
reduced to 6 to 15%.
On the other hand, using a steam raising system, basic Rankine Cycle
efficiency of 35%, a steam generator whose efficiency is 85% and a PDX solids
pump at 40% efficiency, the final overall efficiency is 12%. But if heat is
recovered from the downstream flow in a combined cycle configuration, overall
efficiency is more than 30% and can approach 100%. Other advantages of the pump
include its simple design, with no moving parts, bearings or seals. These
advantages also apply to its original conception, which was to replace two-
stroke outboard engines on marine craft, which have an overall efficiency of
not much above 12%. In-water propulsion efficiency of the PDX pump appears
similar, but it still offers the advantages of being very much quieter while
being immune to fouling. Commercial markets for the pump are seen in sewage
pumping, aeration, agitation, heating, slurry transport, mining, mixing, food
and confectionery manufacture and the chemical, pharmaceutical, petroleum, pulp
and paper industries.
Fluidic pumps powered by high-pressure fluids other than steam are also
possible. Pneumatic fluidic pumps are commercially available, with the range of
products made by Meech Air-Tec probably being the best known in the UK. Steam,
however, is very widely available. It has, for example, been estimated that 45%
of all fuel burnt by US manufacturers is used to generate it. In addition,
process operations in many industries produce low level waste heat which could
be usefully converted into steam for pumping applications



Andy - 18 Jul 2003 12:35 - 28 of 71


A decent article from Shares Magazine.
==========================================

Pursuit Dynamics (PDX) - 40p buy - by: Timon Day

In the past three years, I’ve had plenty of experience of technology start-ups,
as an investor, adviser and general hand-wringer. If something can go wrong, it
very likely will. Old friendships succumb to disappointment and recrimination.

Despite the hazards, there can be huge successes. Pursuit Dynamics looks to be
one of them. It floated in mid-2001, touting a system for using a jet of steam
as a motor for boats or as a pump.

This is no new physics – we all know steam can be used to move things around.
The clever part is the precise modelling of the fluid dynamics to create the
most efficient design.

The shares opened at 55p in mid-2001 and, by last autumn, were down to 19.75p.
It was only last year that Pursuit fully mastered the complexities of the
maths, admits chief executive John Heathcote, so that price fall probably made
sense.

Now he is brimming with confidence and predicts the first orders will be logged
this year. The company has costs of only £1 million a year and expects to be
cash positive once orders begin.

The beauty of steam is that it does all the work. There are no moving parts in
the PDX pump. The steam is injected at supersonic speed into the fluid or
material to be moved. At the other end of the journey it may be necessary to
filter out the water.

The food industry is likely to be Pursuit’s first market. Current pumps use oil
that risks contaminating food. Water purification and sewage may be other early
market uses.

In due course, Pursuit wants to tackle the marine leisure market.

It claims twice the efficiency of outboard or inboard motors. The jet system is
also much friendlier than propellers to marine life, though there are already
other solutions to this problem.

Pursuit offers punters an exciting short-term return. Get pumping.

Shares Summary


Orders are expected ‘this year’ for the PDX steam jet.
The short and long-term potential is stunning.
This could be a ten bagger
Business: Designer of steam pumps

Vital stats:
Market capitalisation: £16m
Historic PE to Sep ’02: -10
Prospective PE to Sep ’03: -20
Prospective PE to Sep ’04: +20
No dividend



Andy - 27 Jul 2003 22:58 - 29 of 71


Hootster has managed to track down a webcast of the PDX piece that was broadcast
on discovery channel:

http://www.exn.ca/video/?Video=exn20030317-steamengine.asx




Andy - 13 Aug 2003 16:28 - 30 of 71


There seem to be one or two rumours circulating that PDX may be close to signing
that all important first deal.

Volume has increased recently, and EK is on record as being a buyer, according
to an article on T1ps.com anyway.

PDX may be worth putting on a watchlist now!


Andy - 19 Aug 2003 23:55 - 31 of 71


PDX has risen to 54.5p today, a rise of 5.5p, or 11.2% !

Maybe the first deal is close to being confirmed?
The market seems to think some news is imminent.


Andy - 31 Aug 2003 11:39 - 32 of 71


An article from Engineering.com.
================================

Case study/Application note
received on 23 June 2003
from Pursuit Dynamics

Multiple roles for fluids handling system
Some in the food industry will view the PDX fluids handling system from Pursuit
Dynamics as a pump, whereas others will see it as a heater, cooker, macerator
or mixer. Some in the food industry will view the PDX fluids handling system
from Pursuit Dynamics as a pump, whereas others will see it as a heater,
cooker, macerator or mixer.

But the beauty of this innovative technology is that it can perform any
combination of these roles. For food processors interested in reducing energy
consumption, the attraction of the PDX system is that it can be far more
efficient than conventional technologies.

Furthermore, the unit at the heart of the system has no moving parts, is
virtually impossible to clog, is self-cleaning and is intrinsically safe.
If this all sounds too good to be true, Hertfordshire based Pursuit Dynamics
can support its claims with a range of units available for demonstration, both
at the company's headquarters in Royston or with a transportable field unit
anywhere in the UK.

Pursuit Dynamics owns the intellectual property underlying the novel system
that is derived from a marine propulsion system and is the subject of 15 patent
applications following three years' worth of research and development that has
cost in excess of GBP 4 million. The PDX unit is driven by readily available
steam. Neither high pressure nor high volume is necessary, and condensate does
not impair the performance, so the PDX unit can be located any reasonable
distance from the steam generator.

Steam is injected into a tube via a series of nozzles around the circumference.
Energy is input to the process fluid by momentum transfer of the steam, from
the pressure drop when the steam condenses, and from the development of a
controllable supersonic shock wave.

The controllable shock wave zone can be generated across the full width of the
process fluid, increasing the energy transfer and having a vigorous mixing
effect, as well as, if desired, a macerating effect on any semi-solids.
Air, or any other gas, fluid or solid, can also be naturally entrained into the
low-pressure zone to boost the performance, enhance the natural mixing effect
and/or aerate the process fluid.

If the process fluid were plain water, the effect would simply be to pump the
water, with the condensation energy of the steam causing a small temperature
increase. However, the process can be controlled so as to raise the temperature
significantly higher.

Continuous, rather than batch, processing is viable with this system.
When fluid-based solids - such as vegetable matter - are added to the process
flow, the shock zone can, if necessary, break down the material without any
need for mechanical macerators, blades or moving parts. Furthermore, hard
objects such as bone, fruit stones or other debris pass straight through
without clogging or blocking.

If a suitable wear-resistant liner or coating is used, abrasive objects will
not cause any damage, and the steam injection principle keeps the nozzles clean.
A PDX unit with a diameter of 47mm will typically produce flow rates of water
of up to 65kl/h, but there is no significant limit on the size of the units
that can be built and, therefore, the maximum flow rate is practically
unlimited. At the other end of the scale, a 25mm unit will produce flow rates
of water of between 5 and 10kl/h.

A single PDX unit can also achieve a considerable suction head, depending on
the steam pressure applied, or multiple PDX units can be used in series to
generate additional suction head.

Another feature of the PDX unit is that the low-pressure zones within the
system can be used to entrain additional liquids, gases or powders into the
process fluid, thereby eliminating the need for further pumps. If the entrained
material is added upstream, it immediately becomes thoroughly mixed with the
process fluid as it passes through the shock zone; less energetic mixing is
achieved if the material is entrained downstream.

Some substances encountered in the food processing industry are extremely
aggressive. However, if appropriate materials are used in the construction of
the PDX unit or if a suitable coating or liner is employed, the device can be
made impervious to hostile solutions. The PDX system can handle a wide variety
of liquids as well as solids in a liquid carrier.

Highly viscous media can be handled with ease and even high volumes of gravel
can be pumped without causing damage to the PDX unit.

So long as the process fluid is not adversely affected by the addition of a
small volume of steam condensate, the scope for use in the food industry is
enormous, with real benefits available to users installing new plant or
replacing existing pumps, heaters, macerators or mixers.

Pursuit Dynamics is currently looking for suitable partners to licence or adopt
this system.


Source : http://www.engineeringtalk.com/news/prs/prs102.html


Andy - 01 Sep 2003 14:27 - 33 of 71


Jam today!!

Anyone seen the shareprice????
---------------------------------------------------


LONDON (AFX) - Pursuit Dynamics PLC said it has entered into a 90-day
exclusive agreement with a confectionery manufacturer to undertake a trial of
its process technology.
The trials will cover applications in the manufacture of both confectionery
and soft drinks.
If the trials, which are due to commence this week, are successful, then
Pursuit Dynamics may grant an exclusive long-term licence to use its technology.
The PDX system offers the ability to pump, macerate, aerate, mix and entrain
in one simple device that is self cleaning and requires virtually no
maintenance.
Additionally, Pursuit has today commenced formal marketing of its PDX Fluids
Handling System. Informal marketing feedback has indicated a high level of
interest in the system from companies involved in industries that range from
food manufacturing to nuclear decommissioning, the statement added.
[email protected]
ra






Andy - 01 Sep 2003 23:21 - 34 of 71


The first deal (trial really) signed, maybe the train is leaving the station?

Keep an eye out for PDX now, I really think this could be a big British company
success story in the making here!


biker - 03 Sep 2003 22:45 - 35 of 71


A nice ltlle one bagger so far.

I'm trying not to fall in love with the technology, like I did with Torotrak.



Andy - 05 Sep 2003 15:16 - 36 of 71


biker,

Looks like the recent retracement has reversed today.

I topped up again this morning, but missed the dip!
===========================================================================
from cambrdige-news.co.uk (Not the full article)


In Pursuit of new markets - Published on 04 September 2003

IT STARTED as a new way of powering boats, now it is going to be used to make
sweeties and fizzy drinks.

Pursuit Dynamics, the AIM-listed company at Royston, has signed a 90-day
agreement with a leading confectionery manufacturer to trial Pursuit technology
If all goes well, Pursuit is expected to grant a long-term licence.

John Heathcote, Pursuit boss, said: "This is good news for us. The manufacturer
has already seen initial tests of the process system at our research facility
in Royston, which prompted the agreement.

"I feel this underlines the increasingly wide scope of uses in process
industries for our system, which can pump, macerate, aerate, mix and entrain in
one simple device that is self-cleaning and requires virtually no maintenance."
The company has also announced the formal onset of marketing for its fluids
handling system across a broad range of process industries. Informal marketing,
the company said, had indicated a high level of interest from sectors as
diverse as food manufacture to nuclear decommissioning.


Andy - 16 Sep 2003 10:30 - 37 of 71


Well it was a good holiday, made even more enjoyable by daily trips to internet
cafes to see the gains been made by Pursuit and Oxus!

Pursuit do appear to be on the point of some serious interest by institutions
after presentations last week, and deals and contracts are rumoured to be close.

There has again been speculation about Pursuit and the Alberta oil sands
project in Canada. I have borrowd some research about the oil sands project
from another BB, to emphasise exactly the possible scope for PDX in this
particular field.

What I like about PDX is that they are looking to obtain ROYALTIES as part of
the deals they strike, and based on the cost savings made. There has been
rumour that they have walked away from deals that didn't allow them to build
this in, and they are holding out for the right deals , as they believe their
technology is so good.

I for one believe this is the right way to move forward.

-------------------------------------------------------------------------------
Canada has world's largest oil reserves

The worlds largest oil reserve is not lying under Saudi Arabian deserts or
under the sea, it is clinging to grains of sand in the Canadian boreal forest
of Northern Alberta. Between 1.7 tn and 2.5 tn barrels of crude oil, 300 bn of
which are expected to be recoverable, are spread like topsoil across thousands
of sq km of Alberta forest and tundra.
And thanks to new technology being developed by many large oil groups, it may
offer a seemingly limitless supply of North American petroleum products with
the scoop of a steam shovel. "Alberta is in a very enviable position to supply
its own needs and those of its trading partners over the next 50-100 years,"
Murray Smith, Albertas Minister of Energy said ahead of his speech to a
conference on North American energy in Washington.

Collective investment in the Alberta oil sands has become one of the worlds
largest ongoing engineering projects with more than $ 6.3 bn spent over the
last three years to upgrade recovery operations and refining technologies.
Another $ 10 bn is in the works and a further $ 19 bn in development proposals
from companies like Imperial Oil, Petro-Canada, Suncor, Syncrude, Shell,
Chevron and Conoco awaits regulatory scrutiny and approval.
"We've seen tremendous investment from US firms in the oil sands. It has
clearly become an important piece of the North American energy puzzle," said
provincial energy minister Smith. Biggest drawback is high production costs The
development has turned the small city of Fort McMurray into Canada's hottest
marketplace with housing costs that rival the country's biggest cities and
skilled labour commanding premium wages.

But the biggest drawback for oil sands development is the high production cost
associated with extracting the heavy, gooey bitumen -- a petroleum product that
can be refined into gasoline or other products -- stuck to every grain of sand.
Production costs, although significantly cheaper than a decade ago, still range
from $ 11 to $ 18 per barrel of oil sands bitumen. This is considerably more
expensive than producing conventional Persian Gulf light crude which costs less
than $ 2 a barrel to recover.

Companies use Steam Assisted Gravity Drainage, which works by drilling parallel
pipe wells into oil sands that sit below rock caps. Steam is forced through one
well that heats the oil sands and releases the bitumen from the sand to drip
into the return well and be pumped to the surface.

If it all plays out as planned, oil sands production will more than triple from
the current level of 600 000 bpd to more than 2 mm bpd of oil by the next
decade. Allan Ross, an energy analyst based in Calgary, says with 20 mm bpd
needed to satisfy the energy-thirsty United States, ample supply from a
friendly trading partner will be important in the coming years if oil prices
remain high.

Currently, Canada supplies 1.8 mm bpd of oil to the United States. "Oil sands
are too crucial for the Americans to ignore. President Bush has said they need
reliable sources of energy. "Oil sands are rock solid. It'll be there day-in,
day-out for many presidential terms," Ross said.
------------------------------------------------------------------------------



Andy - 20 Sep 2003 00:29 - 38 of 71


Nice to se PDX rising today after what hopefully was a small retracement.

I am going to visit Pursuit in October, so hopefully may have a better picture
of their prospects afterwards.

I will post my opinion on the visit afterwards.


Andy - 22 Sep 2003 23:03 - 39 of 71


Extract from th Northern District of the Britich Paper Industry Tecnical
Association, Oct 30th being the relevant date!
============================================================================

OCT
2003
7 Joint meeting with N.E.S.D.G.
Stoneywood Mill Scottish District

8 De-watering Equipment Kufferath
The Fernhurst Hotel, Bolton Rd
Blackburn (opp. Ewood Park) North West Discussion Group

8 Pressing and Drying
Dennis Jewitt
Huyck, Whitstable Southern District

30 PDX - a Revolution in Supersonic Process Technology
Mike Todman, Chief Technical Officer
Pursuit Dynamics