7 March 2024
Tribe
Technology PLC
("Tribe
Tech", the "Company" or the "Group")
First
generation autonomous TTDS 700 GC drill rig update
Tribe Technology PLC (AIM: TRYB), a disruptive
developer and manufacturer of autonomous mining equipment, provides
the following update in relation to the Company's first generation
autonomous TTDS 700 GC drill rig (the "Drill Rig").
The Company continues to make good progress in
relation to the construction of its Drill Rig. In this regard, the
Company is pleased to highlight that the Company recently
successfully switched on the engine of the Drill Rig for the first
time at the Company's 20,000 square foot facility in Belfast,
Northern Ireland.
This marks an important step for the Company on
the way towards factory completion of the Drill Rig and the
subsequent production of the Drill Rig as well as ultimately, the
advancement of efficiency, safety and sustainability in the
drilling industry.
Factory completion of the Drill Rig continues
to be expected to occur in the first quarter of 2024 with shipment
to the customer expected in Q2 2024, as originally stated in the
Company's announcement on 28 December 2023.
To date, reverse circulation ("RC") drilling
has been characterised by a lack of automation due to the
complexities of the systems required and the harsh conditions in
which these machines operate. The Company's RC Drill Rigs are being
developed to remove operators from the dangers that are involved in
traditional RC drill rigs.
Please see link
here to view the Company successfully switch on the Drill Rig for
the first time.
Derek Loughlin, Chief Technology Officer at Tribe Tech,
commented:
"We continue to make strong progress in relation to the
Company's first generation autonomous TTDS 700 GC drill rig and
ultimately, towards creating a safer, more efficient work
environment through the use of fully autonomous and safe drill
rigs. This is demonstrated by the continued testing and most
recently, the successful engine ignition of our first autonomously
operated Drill Rig."
-END-
For further information, please
visit www.tribetechgroup.com or
contact:
|
Tribe Technology PLC
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via
Tavistock
|
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Charlie King, Chief Executive
Officer
Eric Hampel, Chief Financial
Officer
|
|
|
|
|
|
Allenby Capital Limited (Nominated Adviser and
Broker)
|
+44 20
3328 5656
|
|
John Depasquale / Vivek Bhardwaj /
Lauren Wright (Corporate Finance)
Tony Quirke / Joscelin Pinnington
(Sales & Corporate Broking)
|
info@allenbycapital.com
|
|
|
|
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Tavistock (Financial
PR)
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+44
20 7920 3150
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Gareth Tredway / Rebecca Hislaire
/ Saskia Sizen
|
tribetech@tavistock.co.uk
|
About Tribe Tech
Established in 2019, the Group was
founded to create a safer, more efficient work environment through
the development of fully autonomous reverse circulation drill rigs
in the mining industry. The Group's core activities are the
development, in-house manufacturing, and sale of its autonomous RC
Drill Rigs incorporating its core proprietary intellectual
property, the Tribe Technology Drilling System ("TTDS").