29 July 2015
IMAGE SCAN HOLDINGS PLC
("Image Scan" or the "Company")
(AIM: IGE)
Innovate UK grant award and related technology license from IBEX Innovations Limited
Image Scan, the AIM-listed specialist supplier of x-ray screening systems to the security and industrial inspection markets, is pleased to announce that it has been awarded a grant from Innovate UK under the Smart award scheme.
The Grant is worth £104,000 and Image Scan will use the money to support development of a prototype Precision Linescan Detector (PLD), to form the core of its next generation of portable X-ray machines for security and counter terrorism. The PLD will integrate the patented MAP Materials Classification technology from IBEX Innovations Limited (IBEX) into the ThreatScan® portable X-ray detector panel to offer a unique combination of performance and value for money. The development project is planned to take 12 months.
The ThreatScan® range of portable X-ray detection systems was launched at the Counter Terror Exhibition in London in April 2015 and first orders for the system have been received. It is expected that the integration of the IBEX MAP technology will significantly enhance both image quality and the ability of the system to discriminate between different materials, increasing the overall threat detection capability.
An outline license agreement, under which Image Scan has been granted exclusive access to the MAP technology for the security portable X-ray inspection market, has been signed with IBEX, a venture capital backed technology business in the North East. IBEX is also developing applications of the MAP technology for use in other areas including non-destructive testing and medical imaging.
Commenting on this news, Bill Mawer, Chairman and CEO of Image Scan, said: "This grant award, and the accompanying license agreement with IBEX form an important step in our plans to further enhance and extend our range of portable X-ray systems. We want to differentiate Image Scan from other suppliers and bringing this unique technology to the market will certainly achieve that aim."
Neil Loxley, CEO of IBEX Innovations Limited, commented: "We are delighted to be working with Image Scan to integrate the IBEX MAP technology into their range of advanced portable X-ray security machines. We are confident that the combination of Image Scan's advanced portable security systems with the IBEX materials classification technology will create a significant and important new capability for police, security and border control agencies world-wide."
-ENDS-
For further information, please contact:
Image Scan Holdings plc Tel: +44 (0) 1509 817 400
Bill Mawer, Chairman and Chief Executive Officer
[email protected]
Cantor Fitzgerald Europe Tel:+44 (0) 207 894 7000
Rick Thompson / David Foreman / Michael Reynolds (Corporate Finance)
David Banks / Tessa Sillars (Corporate Broking)
About Image Scan Holdings plc
Image Scan Holdings plc (AIM: IGE) is focused on the development and commercialisation of market leading real-time X-ray solutions for use in the global Security and Industrial inspection markets. The Company's Security portfolio includes the Axis range of baggage inspection systems; the ThreatScan® range of portable bomb and suspect package detection systems; and SVXi, a small vehicle inspection system. The Industrial inspection solutions include the MDXi product range, cabinet X-ray systems for laboratories and production lines. The Company was founded in 1996 and joined AIM in 2002
For further information on the Company, please visit: www.ish.co.uk - and for further information on its products, please visit: www.3dx-ray.com
About IBEX Innovations Limited
IBEX Innovations Limited (IBEX) is a venture capital backed technology business focused on the commercialisation of patented X-ray detector technology for medical and industrial imaging markets. The IBEX technology, which retrofits to existing X-ray detectors, recovers spectral information normally lost in digital X-ray imaging to classify materials in the sample and deliver improved detection of defects and impurities. IBEX is developing applications for its technology in multiple industrial markets including food inspection and NDT, and for medical radiography where the technology is expected to generate improved diagnostic images at reduced patient dose.
For further information on IBEX, please visit www.ibexinnovations.co.uk or contact Dr Neil Loxley, CEO; [email protected].
