Collaboration Agreement with Sedwell Limited

LONDON--(BUSINESS WIRE)--

Wheelsure Holdings plc

(“Wheelsure” or the “Company”)

Collaboration Agreement with Sedwell Limited

Wheelsure Holdings plc (AQSE:WHLP), the Aquis Stock Exchange quoted industrial engineering company, today announces that the company has entered into a collaboration agreement (“Agreement”) with Sedwell Ltd, a privately held digital technology company.

This agreement is to mutually and exclusively develop their respective technologies in the form of a secure digital fastener for use in the global rail market.

Tracksure, the rail brand of Wheelsure, has a proven track record of facilitating cost-effective operational maintenance regimes in rail infrastructure. The directors believe that Sedwell’s unique bolt load monitoring technology is highly complementary and will further enhance the product range and customer benefits offered by Tracksure.

Sedwell Ltd has, in a short time, attracted interest for their technology in other industrial sectors, including Renewables.

The Agreement, which is for a minimum term of 5 years and sets out the obligations and benefits for each party from a collaborative project, follows a period of development and dialogue. Both parties are now evaluating short term opportunities in the marketplace.

The directors of the Company are responsible for the contents of this announcement.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

Enquiries:

About Wheelsure Holdings
Wheelsure Holdings plc is a holding company for a Group which develops and commercialises innovative products that meet safety needs throughout the world.

About Sedwell Limited
Sedwell Limited’s InterBolt™ is a disruptive technology aim at revolutionising the inspection and maintenance of critical bolted connections. Incorporating real-time bolt load measurements, Sedwell’s technology allows for accurate tensioning of bolts, it predicts & prevents failures and eliminates costly and disruptive manual inspection.

Further information can be found at https://sedwell.co.uk/.

Forward-looking Statements
This announcement may contain certain statements about the future outlook for Company. Although the directors believe their expectations are based on reasonable assumptions, any statements about future outlook may be influenced by factors that could cause actual outcomes and results to be materially different.

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Wheelsure Holdings Plc

Source: Wheelsure Holdings Plc