Peak Resources in R&D Agreement for Landmine DetectionAugust 14, 2008
Under the agreement with Roke Manor Research of the U.K., Peak Resources will use Roke's technology to develop a landmine detection system for UAVs and handheld devices.
CALGARY, ALBERTA--(Marketwire) -- Peak Resources Inc. ("Peak"), (OTCBB:PKRC) is pleased to announce it has entered into a research and product development agreement with Roke Manor Research Ltd., a Siemen's company, of the United Kingdom. The agreement is for the development of proprietary technology and products and the provision of consulting support in the field of landmine scanning, detection, mapping and removal. The landmine detection system to be developed is for use in both Unmanned Aeronautical Vehicles (UAVs) and hand held devices. Roke has developed and owns the intellectual property rights for both a high level scanning sensor and a low-level detection sensor. Peak has entered into licensing agreements to use and further develop the sensors for exclusive use for landmine detection and removal.
The research and development program conducted by Roke will advance and integrate their existing proprietary sensor technology into a sensors/detector system for identifying, locating and mapping landmines. The Agreement will involve Roke sub-licensing the technology from Peak and developing further intellectual property for the detection of landmines. Peak will own the intellectual property developed as a result of the Agreement and will apply for patents for the newly developed intellectual property.
Under the terms of the Agreement Roke will complete a three phased research and development program expected to be complete within an 11 month time frame. The final deliverable is a fully integrated landmine detection and mapping system that will utilize a UAV to scan, identify, locate and map existing landmines. The mapping system software will be integrated with a GPS tracking system. A hand held device, with a self-generating battery power capacity for longer field use, will be an additional deliverable.
Peak will utilize its proprietary landmine scanning and detection system to develop a business of delivering landmine detection and removal services to governments, NGOs and commercial entities (oil and gas, mining, agriculture, utilities and other land based companies) in various regions of the world.
"Peak is committed to creating and deploying the most advanced technology based solution to the problem of locating and removing landmines. We are privileged and excited to enter into this exclusive agreement with one of the world's leading sensor technology developers." - Larry Olson, Peak President/CEO.
About Peak Resources
Peak Resources Inc. currently trades on the OTC Bulletin Board under the symbol PKRC. Peak has been presented with an opportunity to develop a technology business focused on the scanning, mapping and removing of buried landmines. Landmine contamination represents a global humanitarian and economic development problem. Estimates vary from 75 million to more than 100 million active landmines scattered in over 80 countries. The company will be playing a key role in freeing those countries held hostage by these indiscriminate weapons. We will facilitate economic and social re-development of contaminated areas, as well as reclaiming non-contaminated areas that are currently sitting idle. In 2006 international funding of mine action totaled $US $475 million.
Peak is in the process of changing its name to Mine Clearing Corp. It will be applying for a new trading symbol and be launching a fuller website.
About Roke Manor Research Ltd.
Owned by Siemens and based in Romsey, Hampshire, Roke Manor Research is an innovative solutions provider and contract R&D specialist. It pioneers developments in electronic sensors, networks, and communications technology, providing products and services to Siemens businesses, Government departments, and commercial customers. The company employs 478 people. Its orders for the financial year ending 30 September 2007 were Pounds Sterling 44.85m and turnover for the same period was Pounds Sterling 42.55 million.
About Siemens in the UK
Siemens was established in the United Kingdom 165 years ago. The company employs 20,387 people in the UK, including about 6,000 in the manufacturing sector. Last year's revenues were Pounds Sterling 3.6 billion, including exports of Pounds Sterling 873 million, and it spent almost Pounds Sterling 70 million on research and development. As a leading global engineering company, Siemens provides innovative solutions to help tackle the world's major challenges, across the key industrial sectors of energy, industry and healthcare. Siemens has offices and factories throughout the UK, with its headquarters in Frimley, Surrey. The company's global headquarters is in Munich, Germany.
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