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Insplorion announces a Vinnova project of approx. 3.7 MSEK together with Saab

MAR

Insplorion and Saab have jointly applied and been granted a project within the framework of Vinnova's call "Aeronautical demonstrator program with SME participation". The total budget for the project is approximately SEK 3.7 million, of which the grant portion is approximately 50%.

The purpose of the project is to demonstrate the possibility for leak detection in hydrogen-powered aircraft. Within the project, Insplorion's hydrogen sensors and readout with fiber optics will be adapted to be combined with Saab's existing readout unit (interrogator). Today, Saab sells products based on their fiber optic platform for temperature monitoring on board aircrafts.

The project is expected to start autumn 2024 and last for about 18 months. During this time Insplorion will receive grants of approximately 1.7 MSEK.

"This type of collaboration is necessary to develop safe solutions for future aircrafts with hydrogen as an energy carrier. Insplorion alone cannot build solutions for the aviation sector; the lead times are long and significant resources are required. Therefore, we are happy to be able to cooperate with such a prominent company as Saab. We also expect this project to increase the technical maturity of Insplorion's fiber optic sensor platform, i.e. where fiber optics is used for sensor readout." says Insplorion CEO Johan Rask.

This information is information that Insplorion is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-04-29 14:10 CEST.

Questions are answered by:
Johan Rask, CEO
+46 708 94 60 60, johan.rask@insplorion.com

Per Giljam, CFO
+46 734 23 50 10, per.giljam@insplorion.com

About Insplorion
Insplorion’s vision is to use sensor technology for an accelerated transition to a sustainable future. With its unique sensor platform NanoPlasmonic Sensing (NPS), Insplorion operates within two fields; hydrogen sensors and research instruments. The hydrogen sensors enable safe and efficient deployment of hydrogen infrastructure through its unique benefits in detection speed, selectivity and ability to function in environments where many sensor technologies cannot. Our instruments give scientists around the world real time data within battery research and surface processes in fields like catalysis, material- and life science. Naventus Corporate Finance AB is Insplorion's Certified Adviser on Nasdaq First North. 

Insplorion AB│ Arvid Wallgrens backe 20 │413 46 Göteborg│ Sweden │ 46-(0)31 380 26 95 │ www.insplorion.com │ info@insplorion.com

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Insplorion announces a Vinnova project of approx. 3.7 MSEK together with Saab

Datum 2024-04-29, kl 14:10
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Insplorion announces a Vinnova project of approx. 3.7 MSEK together with Saab
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