9043J Government Grant
Regulatory AnnouncementRNS Number:9043J
Trakm8 Holdings PLC
14 December 2007
Embargoed until 0700h
Friday 14 December 2007
TRAKM8 HOLDINGS PLC
("Trakm8" or "the Group")
Trusted Road Usage & Emissions Profiling Project
Trakm8, (AIM: TRAK), one of the UK's leading telematics technology and
service providers to the global vehicle tracking and security markets,
is pleased to announce that it has been awarded £1.1 million grant
funding by the Technology Strategy Board (TSB) (formerly part of the
Department of Trade & Industry) to be the Lead Industry Partner in the
Trusted Road Usage & Emissions Profiling Project (TRU-EP).
Trakm8 has observed developments in government legislation and other
regional initiatives over the last few years, with a particular
interest in road tolling, congestion charging and vehicle workplace
safety. In addition the Group has long held the view that these
initiatives will be the catalyst through which the vehicle telematics
market will grow significantly. This project therefore places Trakm8 in
a position to capitalise fully on this anticipated market growth
through the accelerated development of new hardware and services to
meet the needs of these initiatives. In particular Trakm8 believes that
there is strong potential for early exploitation of elements of the
project in areas such as driver behaviour monitoring, duty of care and
vehicle emissions monitoring.
TRU-EP is a £2.9m three-year project consisting of development
resources, hardware and associated costs, with total grant funding of
£1.45m cash. The project will be undertaken in collaboration with
Omitec Limited, the leading UK provider of automotive diagnostic
products and services. TSB grant funding will contribute 50% of the
total whilst Trakm8's contribution to the project will consist of the
majority of the development resources backed by our intellectual
property knowledge and application experience.
The project aims to meet a number of the key "innovation challenges"
for telematics identified by the Department for Transport (DfT). The
TRU-EP project will develop technology for measuring and monitoring
vehicle emissions; provide research into the functionality and
technical application of the European eCall initiative & develop
techniques and methods of monitoring and measuring driver behaviour.
Cary Knapton, CEO of Trakm8 added: "Trakm8 is delighted to have been
selected by the TSB to lead this project, which will enable us to contribute in
this exciting challenge and participate in market and industry
opportunities at a faster pace than originally envisaged. Trakm8 looks
forward to working closely with Omitec and the TSB to help meet the
increasing technological and environmental challenges facing road users
now and in the near future."
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For further information please contact:
Trakm8 Holdings PLC 0870 380 0531
Cary Knapton, Chief Executive Officer
Tim Couling, Finance Director
Arbuthnot Securities 020 7012 2000
Paul Vanstone
Tavistock Communications 020 7920 3150
Simon Hudson
Paul Youens
About Trakm8
Trakm8, based in Shaftesbury, Dorset is a leading technology provider,
designerand developer of hardware and software to the vehicle tracking
and security market. The Company distributes its hardware and software
worldwide through a network of distributors. In addition, the Company
provides ASP vehicle monitoring and tracking services direct to the B2B
market. Trakm8's products allow vehicles and drivers to be monitored,
allowing organisations to manage deliveries and services, or track
stolen vehicles down to 5 metres.
This information is provided by RNS
The company news service from the London Stock Exchange
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