What does RMS do?
Gyrometric provides a way remotely monitor rotating shafts such as those used in wind turbines, ships and manufacturing operations to minimise downtime.
CloudVeil is a security and risk management consultancy in teh early stages of its development.
In August, Remote Monitored also agreed to buyPharm2Farm, a hydroponics specialist that has also established a business making anti-viral facemasks, though the deal still needs to be approved by shareholders.
How is it doing?
in September, RMS said it expects substantial revenues to be generated by Pharm 2 Farm from the sale of anti-viral face masks.
Trevor Brown, chief executive, said: “Since we announced the proposed acquisition, the market for Pharm 2 Farm products, in particular for face masks, has continued to grow exponentially.
P2F is setting up a production line that will be able to produce up to 5mln standard or anti-viral face masks per month.
“The successful development of a face mask with anti-viral properties will, we believe, generate substantial revenue for the enlarged group,” said Brown.
“Proof of Concept for the efficacy of the anti-viral mask is imminent and mask production is anticipated to commence in the first quarter of 2021”.
Elsewhere, RMS said Cloudveil is currently negotiating with a London-based law firm over a security programme and had also bid for a testing contract for one of the UK’s largest public sector financial services institutions.
Gyrometric, meanwhile, is set to start a three-month trial at a Tarmac cement manufacturing operation now that a site has become available.
RMS added that for the half-year to June it recorded a loss of GBP253,000 (GBP381,000) on revenues of GBP58,000 (GBP18,000). Cash reserves were GBP360,000.
What the boss says: Trevor Brown, chief executive
“The successful development of a face mask [by P2F] with anti-viral properties will, we believe, generate substantial revenue for the enlarged group,”
- Completion of P2F acquisition
- P2F starts to produce anti-viral face masks
- Trial of Gyrometric technology with Tarmac