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Pursuit Pursues Partners for New Marine Drive
01 Jun 2002
Recent technical breakthroughs have led Pursuit Dynamics Ltd to announce their intention to commence trials of a revolutionary marine propulsion system in November of this year. The Pursuit Marine Drive is claimed to have the potential to replace the motor, clutch, gearbox, drive shaft, propeller and rudder in marine vessels with a system that has no submerged rotating parts.
The system, which uses a steam generating device and a revolutionary method of delivering thrust, is theoretically capable of efficiencies which exceed current marine propulsion systems.
Pursuit Dynamics was floated on the AIM in May 2001 and was formed to acquire the Pursuit Marine Drive from Carnegie Corporation Limited, an Australian listed company and Alan Burns, the inventor. Its target markets for the new system are the recreational and light commercial sectors of the marine propulsion industry, which are worth approximately $6.5 billion annually.
At its recent AGM, Pursuit Dynamics said that a number of material advances made over the last year removed a major element of risk in the commercialisation process of the Pursuit Marine Drive. The company seeks to have entered into discussions with suitable joint venture development and licence partners, with specific expertise in manufacturing, distribution and maintenance, by the end of this year.
MJ Information No: 17142
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