TPG signs U.S. partnership with Micropore Inc.
TP Group and Micropore agree atmosphere management partnership
TP Group (AIM: TPG), the specialist services and engineering group, is pleased to announce it has signed a partnership agreement ("the Agreement") with Micropore Inc, the American developer of revolutionary ExtendAir® carbon dioxide adsorbent systems used in rebreathing and life support applications.
This is a significant building block in the Company's overseas growth strategy, one part of which is to partner with small and medium sized American technology specialists as a bridge for them to access TP Group's global customer base outside the U.S. This strategy also provides a route for TP Group to enter or invest in the U.S market.
The Agreement, effective immediately, will enable TP Group to develop and market a new range of equipment that is additional to existing systems and will open up new opportunities for the Company. The new range will utilise ExtendAir® adsorbent technology to produce small and highly efficient systems that can complement the function of existing systems or work stand-alone on small submarines not currently supported. In addition, TP Group will act as Micropore's preferred equipment manufacturing partner in the maritime sector with the opportunity to extend this equipment and its variants into other adjacent markets.
Phil Cartmell, Chief Executive of TP Group commented:
"This partnership is a valuable extension to our existing relationship with Micropore and sets up a valuable new transatlantic link for the Group as we pursue our international growth plans.
"It also offers us the opportunity to work in sectors and applications beyond our traditional submarine systems and further broaden our reach in the management of breathable atmospheres.
"We look forward to building on this relationship and establishing TP Group and Micropore through a wider range of propositions."
In addition to above statement, Doug McKenna, Chief Executive of Micropore, Inc. commented:
"One of Micropore's challenges was successfully bridging the integration gap between customers that want to utilize our advanced adsorbent technology, and the compatible systems knowledge and hardware to complete the installation.
"TP Group is actively launching products and systems that take direct advantage of our ExtendAir® adsorbent technology.
"With TP Group we look forward to broadening support of submarine customers, and establishing product offerings in adjacent markets."