- Surface Transforms has signed a non-exclusive agreement worth $1 million in revenue over the next year with a global maker of clutch and transmission systems.

The agreement relates to the transfer of one of Surface's in-house developed process technologies, and includes the sale of specialist equipment and an option to purchase further process technology and equipment worth about $1.5 million.

A five-year licence is included in the agreement, commencing 2018, should they choose to manufacture and sell carbon ceramic components using Surface Transforms' process technology.

"The global manufacturer will not manufacture or sell carbon ceramic products using the Company's process technology prior to 2018."

At 8:47am: [LON:SCE] Surface Transforms share price was 0p at 9.75p

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