KBC Advanced Tech - Licensing Agreement
December 09 1998 - 2:30AM
UK Regulatory
RNS No 7871q
KBC ADVANCED TECHNOLOGIES PLC
9th December 1998
KBC Advanced Technologies plc
Licensing Agreement with Hyprotech
Licensing Agreement with Hyprotech
KBC Advanced Technologies plc ("KBC") and Hyprotech Ltd
("Hyprotech"), a wholly-owned subsidiary of AEA Technology
plc, are pleased to announce an agreement in principle to
cross-license certain technologies and to jointly develop
and market certain software products.
KBC, a leading consultant to the oil refining industry, is
the recognised market leader in refinery reactor unit
simulation and the only supplier of high resolution
refinery-wide simulation technology. Hyprotech is the
supplier of HYSYS, the leading flowsheeting software which
is used for design, optimisation and training in the
process industries.
This agreement brings together the technologies of the two
companies. The partnership provides a platform for both
companies to enhance products and services to their
respective client bases.
The products currently envisioned under the agreement
comprise:
- A new version of KBC's proprietary Petrofine software
tool, embedded in the HYSYS flowsheeting environment, for
use by KBC's consultants. This will enhance the
efficiency of KBC's consultants in executing Profit
Improvement Programs.
- A new simulation product to be developed jointly for
use by refiners in refinery analysis and optimisation
studies. This will be marketed by Hyprotech, with KBC
receiving a royalty stream.
In addition to continued direct sales, KBC will market its
process models through Hyprotech's extensive world-wide
distribution channels.
Michael Press, Chairman, KBC, commented, "It is KBC's
strategy to remain a leading provider of process
technology to the refining industry. We are pleased to be
working with Hyprotech and believe that arrangements of
this type provide a new channel for commercialising our
technology."
Current Trading
The Board can confirm that current trading is in line with
market expectations.
Enquiries:
KBC Advanced Technologies plc 01932 856 622
Michael W Press, Chairman
Wayne P C Hutchinson, Chief Operating Officer
Edward J Uren, Finance Director
Square Mile Communications Ltd 0171 583 4567
Kirsty Hall/James Melville-Ross
END
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