What's Going On With OpSens Solutions?
OpSens Inc. (OPSSF) stock rose on Wednesday after the company announced OpSens Solutions Inc, it's wholly-owned subsidiary, will receive advisory services and $500,000 in funding support from the National Research Council of Canada Industrial Research Assistance Program. The funding will be used to support a collaborative research and development project through the international EUREKA Network. Shares of the company were trading higher 7.02% to $1.83 a share on Wednesday.
What Does This Mean For OpSens Solutions?
"Thanks to the outstanding performance of our recently developed and patented fiber-optic differential pressure sensor, the most precise of its kind on the market, we have been able to show very promising benefits of our fiber optic sensing technology for the aerospace industry. We would like to thank EUREKA for their support of this project and NRC IRAP for their technical and business advice in planning for this project, as well as the financial support," said Gaétan Duplain, President of OpSens Solutions.
The project will develop an optical-based fuel monitoring systems for aerospace applications. Moreover, the OFMS project consortium, coordinated by a major aircraft manufacturer, intends to develop an optical fuel monitoring system for aerospace applications based on OpSens Solutions' patented fiber optic technology.
Opsens Inc. develops, manufactures, installs, and sells fiber optic sensors for interventional cardiology, fractional flow reserve (FFR), oil and gas, and industrial applications.
