Company Announcements

1 August 2024

Braveheart Investment Group Plc

("Braveheart", the "Company" or the "Group")

Investment update - Gyrometric

Braveheart Investment Group (AIM: BRH), announces an update on Gyrometric Systems Limited ("Gyrometric"), a company within its investment portfolio. Braveheart recently increased its shareholding in Gyrometric to 21.43%, having acquired a 15% interest in the company for £22,500 on 9 July 2024.

Gyrometric has developed a patent protected system of hardware and software to monitor complex movements of rotating shafts at both high and low speeds and detect minute irregularities in their motion. The system then analyses the data to help predict mechanical failure in the shafts and the motors, bearings and couplings attached to them.

Gyrometric has now been awarded a £300,000 grant by the UK Government's Innovate programme ("IUK"), to lead a group of UK specialists to develop a monitoring system for large journal bearings for wind turbines. This UK group includes Leonardo Testing Services Limited ("LTS") in Sheffield and the Offshore Renewable Energy Catapult ("OREC") in Blythe. The UK group will work with a USA based team led by Tufts University, which includes Kingsbury Inc., a specialist bearing manufacturer, and a large US wind turbine manufacturer.

This collaborative US/UK project will focus on developing large tilting pad journal bearings and monitoring their performance using Gyrometric's technology. The project's innovation lies in adapting Gyrometric's incremental motion encoder ("IME") technology to measure radial and axial shaft displacement with high accuracy, alongside LTS's ultrasonic methods to monitor oil film thickness.

This IUK initiative aims to support next-generation wind turbines of over 20 MW, which will require tilting pad bearings, as rolling element bearings are considered impractical for this application. OREC's involvement in the project is intended to bridge the gap between technology demonstration and market adoption.

Future market opportunities for Gyrometric lie with bearing producers and wind turbine original equipment manufacturers, particularly offshore wind in the UK/USA. The UK's current wind energy capacity is 14.8 GW , and the UK Government has set a capacity target of 50 GW by 2030. If successful, the Directors of Gyrometric believe its system could be retrofitted to existing turbines, offering a significant revenue stream to Gyrometric.

Once developed, the Gyrometric IME technology could also be applied to many other applications where tilting pad bearings are used.

Trevor Brown, CEO of Braveheart, commented:

"We are excited about this grant award as it affirms the importance and relevance of Gyrometric's unique technology in the production of alternative energy in future years, together with the opportunity to work closely with a leading US partner".