Fluid processing specialist Pursuit Dynamics said it has made ‘remarkable breakthroughs’ in applying its core PDX technology to the biofuels production sector.
Announcing its annual results, Cambridgeshire-based Pursuit claimed its prospects for the year ahead are good despite what it admitted had been ‘frustratingly slow’ progress in the food and brewing industries.
The company is particularly optimistic about its bioethanol reactor system, which it claimed could improve recovery efficiency by up to 17 per cent.
‘If confirmed this will represent a step-change in the economics of the ethanol production process,’ Pursuit told its shareholders.
The company reported mixed fortunes in its other key application areas. Pursuit Processing Equipment, its sales arm for the food and brewing sectors, had a ‘disappointing’ year but its fire suppression and decontamination operations fared well.
Pursuit’s sales more than doubled to £3.1m in the year to October. Its operating loss rose to £7m from £4.3m in 2006 reflecting the company’s continuing heavy expenditure in R&D.