5 year JCA with McLaren Applied Ltd for SAW Technology
Transense Technologies plc enters into Joint Collaborative Agreement with McLaren Applied Ltd ('McLaren Applied')
Transense SAW team are delighted with the signing of a Joint Collaborative Agreement ('JCA') with McLaren Applied. This JCA has been established to build on from the Joint Development Agreement that Transense and McLaren Applied agreed in 2011 which was to develop non-contact torque products for specific motorsport applications and target customers using Transense's Surface Acoustic Wave ('SAW') technology.
The new agreement is initially for five years and will continue development of the Transense Torque Measurement System using SAW technology. Under the JCA, McLaren Applied have exclusivity in elite motorsport drivetrain applications in exchange for meeting minimum target revenues on an annual basis over five years.
Nigel Rogers, Executive Chairman of Transense, said:
"This is another major milestone for Transense and McLaren Applied in our development of the Transense Torque Measurement System using Surface Acoustic Wave sensors for motorsport applications. Transense has been working closely with McLaren since 2009 on torque sensing in a number of racing series. Signing this agreement further cements our relationship, and we look forward to continuing our work with the world-renowned engineering company, McLaren Applied. Our shared aim is to deliver further success in the demanding and harsh environment of motorsport, and explore other applications of joint interest."