Transense flying high after licensee's US Army win

Transense Technology shot upwards on Monday after its licensee's T901-GE-900 engine was selected by the US Army for a programme to re-engine its Boeing AH-64 Apaches and Sikorsky UH-60 Black Hawks.

The engine, developed by licensee GE Aviation, incorporates a Transense's Surface Acoustic Wave (SAW) sensor and will be used during the engineering and manufacturing development phase of the Improved Turbine Engine Program, during which the US Army intends to replace more than 6,000 engines installed in their current fleet of the two aircraft.

The T901 engine is also compatible for aircraft in military forces outside of the USA as well as other military and commercial medium sized vertical take-off aircraft.

GE will pay a perpetual sales royalty to the company in respect of each unit using the technology, under the license agreements previously announced by Transense in July 2016 and March 2017.

Transense's Graham Storey said: "We are very proud of the involvement of Transense's SAW technology in this engine and look forward to working with GE in the future."

Transense Technology's shares were up 14.94% at 50.00p at 0924 GMT