Structural Monitoring Systems Plc (“SMS” or “the Company”) (ASX:SMN) would like to provide the following update on the certification progress of the Company’s smart sensor solutions for Aft Pressure Bulkhead inspections.
SMS Chairman and Chief Executive Officer Ross Love commented:
“As Chairman, I am pleased to provide a further update on our July 16 announcement regarding the progress towards Federal Aviation Administration (FAA) certification for our smart sensor solution for Aft Pressure Bulkhead inspections.
“This further update follows the advice we received from Boeing on August 2 that their Technical Design Review (TDR) meeting has closed off all outstanding technical design issues arising form their initial review in February this year.
“The next step is the final compilation by the engineers and review by the E-UM of the compliance summary report, which is the entirety of all of the compliance package, including all data accumulated and substantiation claims. This is likely to take at least six weeks, as expected.”
Mr Lynch-Staunton commented:
“This means that the critical technical concerns for the program have been resolved and we are compiling the documents now for application to the FAA.
“However, there are still several steps remaining in the process – both within Boeing and then within the FAA – as we have previously advised.
“However, we have no reason to believe that these additional steps won’t be completed successfully, but at the same time we cannot guarantee that they will, nor when they will,” he said.
SMS Chairman and CEO Ross Love further commented:
“This is a very detailed technical review process and achieving today’s milestone confirms the confidence we have been expressing in both the process and the outcome, even though we might have wished for it to have been achieved earlier.
“It significantly increases the confidence with which we can continue our engagement with important potential customers -along with our currently contracted customer Delta Air Lines – for our Aft Pressure Bulkhead application and our confidence to pursue new applications, many of which we are already progressing.
“I look forward to providing further updates as the remaining milestones are met, as well as on the implications for our current budget and forecasts as we complete that assessment in the coming weeks.
“I would like to reiterate my thanks to our own technical team, as well as those at Boeing and Delta Air Lines, for their calm and professional persistence in achieving today’s result, as well as to our loyal, and patient, shareholders who have funded this long and continuing journey to CVM commercialisation.”
This ASX release has been approved for release for Executive Chairman Ross Love on behalf of the Board of Directors.
Read the full press release on the ASX.