Strat Aero invests £0.25m in Gyrometric Systems

AIM-listed Strat Aero has agreed to buy 37% of the enlarged share capital of Gyrometric Systems for £0.25m in cash.

Gyrometric has developed a unique system for reliably collecting, analysing and monitoring digital data from rotating shafts over a wide range of speeds and shaft sizes. Strat Aero said the systems have operated successfully in service for several years in challenging environments with very high levels of reliability.

Current applications include monitoring of marine propulsion systems, machine tools and wind turbines. The technology uses proprietary software and Artificial Intelligence techniques to analyse performance and to diagnose and predict drive system maintenance needs, reporting to commercial operators through a cloud-based Internet of Things platform.

Strat Aero director Nigel Burton said: "The acquisition of this initial interest in Gyrometric marks the commencement of our previously announced strategy of investing in world leading technological services that are relevant to existing operational business within Strat Aero, i.e. with the potential through data and analysis to revolutionise monitoring and inspection services in high value and mission critical environments.

"Strat Aero will be closely involved in the future development of Gyrometric and to this end Nigel Burton will join the Gyrometric board with immediate effect."

Meanwhile, Gyrometric chairman Alan Lamb said the investment will enable the company to strengthen the management, technical and sales teams.

“Our targets for 2018 include additional sales in the marine control and monitoring market, roll out of our remote monitoring service and expansion of our presence in the wind turbine market,” he said.

At 1530 BST, the shares were down 3.8% to 0.058p.