PipeHawk is pleased to announce that it has signed an Agreement with NEGAS (a consortium of New York and New England gas companies) to develop the next phase of its handheld pipe locator project. NEGAS is contributing $156,000 towards the cost of this phase of the project.

NEGAS has also entered into a confidentiality agreement with a prospective commercial partner. This will allow the prospective partner to carry out a full evaluation of the potential for commercialisation of the product. As a result of the collaboration with NEGAS, Pipehawk will be entitled to receive approximately 40-50 per cent. of any royalties or licensing income arising from eventual commercialisation.

For further information please contact:

Gordon Watt (Chairman)
Tel: 01420 590 990