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Opsens Inc
Symbol OPS
Shares Issued 106,711,789
Close 2021-06-16 C$ 2.25
Recent Sedar Documents

Opsens to receive $500,000 funding for R&D

2021-06-16 09:35 ET - News Release

Mr. Gaetan Duplain reports

OPSENS SOLUTIONS RECEIVES FUNDING SUPPORT TO JOINTLY DEVELOP AN OPTICAL-BASED FUEL MONITORING SYSTEM FOR AEROSPACE APPLICATIONS, INCLUDING CIVIL AIRCRAFTS

Opsens Solutions Inc., Opsens Inc.'s wholly owned subsidiary, is receiving advisory services and up to $500,000 in funding support from the National Research Council of Canada industrial research assistance program (NRC IRAP) to support a collaborative research and development project through the international Eureka Network. The project will jointly develop an optical-based fuel monitoring systems (OFMS) for aerospace applications, including civil aircraft with Temai Ingenieros SL, the consortium partner of this Eureka international project. Temai is also receiving public funding for this project from the Centre for the Development of Industrial Technology (CDTI), a Spanish innovation agency.

The OFMS project consortium, supported by a major aircraft manufacturer, aims to develop an optical fuel monitoring system for aerospace applications based on Opsens Solutions' patented fibre optic technology. This innovative OFMS is intended for use in commercial aircraft, among others, and is designed to be safer and lighter and to reduce contaminant emissions. Being easier to install and maintain, the OFMS system will offer a lower cost of ownership than the capacitive sensing technology currently used in modern aircraft. The system will also be compatible with the next generation of sustainable aviation fuels (biofuels) intended to replace traditional jet fuel aviation in a near future.

"Thanks to the outstanding performance of our recently developed and patented fibre optic differential pressure sensor, the most precise of its kind on the market, we have been able to show very promising benefits of our fibre optic sensing technology for the aerospace industry. We would like to thank Eureka for their support of this project and NRC IRAP for their technical and business advice in planning for this project as well as the financial support," said Gaetan Duplain, president of Opsens Solutions.

"We are delighted with the initial results obtained during the ground testing phase carried out with Opsens Solutions' products and we foresee a bright future for this type of technology in the aeronautics industry. We would also like to thank Eureka and CDTI for their financial support of this project," said Luis Bussion, managing director of Temai.

About Opsens Inc.

Opsens focuses mainly on coronary artery disease in interventional cardiology. Opsens offers an advanced optical-based pressure guide wire that aims at improving the clinical outcome of patients with coronary artery disease. Its flagship product, the OptoWire, is a second-generation fibre optic pressure guide wire designed to provide the lowest drift in the industry and excellent lesion access. The OptoWire has been used in the diagnosis and treatment of over 100,000 patients in more than 30 countries. It is approved for sale in the United States, European Union, Japan and Canada.

Opsens, through its subsidiary Opsens Solutions, is also involved in industrial activities in developing, manufacturing and installing innovative fibre optic sensing solutions for critical applications such as those found in the nuclear, aeronautic and aerospace industries.

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