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Pursuit Dynamics' shares rise on contract win

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Shares in Pursuit Dynamics (LON:PDX) were up more than five percent in early deals today after it revealed a £400,000 contract win.

The fluid technology firm, which supplies the food and brewing industries, said the deal was to supply a PDX fully-integrated food system to one of Europe's leading food producers.

The client, it said, manufactures some of the UK's best-known food brands and is a returning customer.

Chief executive of PDX Roel Pieper said: "This contract demonstrates the value of PDX technology to the food and beverages market, and the success that Heinz-Juergen Kroner (general manager, brewing and food) and his team are having in establishing PDX's offering in this sector."

The AIM-quoted company added that the contract was worth around £400,000, with the revenue being recognised in stage payments over the next three months.

Pursuit Dynamics owns and commercialises the technologies - PDX Atomiser and Reactor, which enable energy reduction and enhance a wide-range of industrial applications.

The firm's business model is organised into five lines: biofuels, brewing, food and beverages; Public Health and  de-contamination; industrial licensing and water.

Its headquarters are in Huntingdon, UK, with offices in London, Schaffhausen in Switzerland and Connecticut in the US.

As at 9.15 am, the firm's shares were up 5.26 percent - trading at 205.25 pence.

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