Some people are picking up that there is more to CNM than just the Wave Energy project....
CNM have a 4.4% listed stake in PDX. Hit a high of 1.06 pounds last night before settling at 1.01...valuing CNM holding at $4.4 million + they get a 1% global royalty from PDX.
Annoucement as follows.....
Pursuit Dynamics plc announces that trials carried out on its innovative PDX Technology by Sonico Ltd (“Sonico”) have been successful. Following the satisfactory completion of the trials programme, and having reached the end of the exclusivity period, Sonico requested the exclusive licence to utilise the technology for a number of applications within the wastewater industry. However, Pursuit has received further expressions of interest relating to the use of the PDX Technology in the wastewater industry from other major companies within this sector.
Consequently, the Board of Pursuit has rejected the request for an exclusive licence but remains in discussions with Sonico regarding the possible granting of non-exclusive licences for specific applications in the wastewater industry.
In addition to the confectionery industry agreement that is currently in place, Pursuit is in active discussions with companies involved in the following industries: food, oil, dairy, nuclear decommissioning, brewing, chemicals, paint, pet food and defence.
Pursuit’s CEO John Heathcote said: “The Sonico performance evaluation programme has proved the commercial potential of our technology in several wastewater applications. The current high level of interest evident from major participants, both in the wastewater and other industries, allows us to be selective in the choice of partners who we feel have the capability to maximise the market penetration of the PDX Technology in the time-frame we require from our licensees.”
CNM Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
