Yes an engineer but lets call it a TECH Engineer. Compressed air technology is its main business, develops industrial air compressors and Gas seals and whats more it provides them for the OIL and GAS industry.
Very close to commercialisation now with its compressors and seals and todays deal ( see below ) should bring that very close.

Charges upfront payments, continuing royalties and development contracts so revenues are not lumpy.

It as a market cap circa off the top of my head 20 million(hope my calculator is now working) and as circa of 5 million cash on the books, very nice.

Some very big names as customers.

Heres todays announcement...........

Corac Group Plc
26 May 2004


For Immediate Release 26 May 2004


Corac Group plc ('Corac')

Joint Industry Programme for Downhole Gas Compression

Corac, the intellectual property and licensing company specialising in
compressor technology, is pleased to announce the signature today of a Joint
Industry Programme ('JIP') for the development of its unique, patented downhole
gas compression technology.

Following the recent successful completion of a Shell funded feasibility study
which evaluated both the technical and economic viability of the technology,
considerable industry interest has been generated, culminating in the addition
of a further four major international oil and gas operators to the project.

The participants of the JIP comprise ConocoPhillips, ENI, Husky Energy,
Repsol-YPF as well as Shell, all of whom have gas assets worldwide which they
believe could benefit from this game changing technology. As well as covering
the development costs for the next phase, the participants will also make
substantial resource available to ensure the final product specification meets
the requirements of the industry.

Corac's downhole gas compression concept involves the coupling together of a
number of axial compressor modules in a single compression train for
installation in the well bore in close proximity to a gas reservoir. In this
location, a modest uplift in pressure results in a very significant increase in
gas production compared with conventional methods using surface compression,
thereby accelerating gas production and cash flow from a producing asset.
Potential production rate enhancement of up to 40% has been demonstrated through
the application of downhole gas compression during a number of gas field case
studies carried out over recent months.

Placing the compressor downhole could also have the effect of being able to
lower the reservoir abandonment pressure which in turn would materially increase
the ultimate recovery from a gas field, thereby further enhancing the economic
benefit from the installation of this novel application of existing technology.

Phase 1 of the JIP is scheduled for completion by the end of 2004, with further
engineering and development work leading to the manufacture and testing of a
prototype downhole in a producing gas well within the following two years.

Commenting on the JIP, Professor Gerry Musgrave, Chairman, said:

'The support from such eminent oil and gas companies vindicates Corac's
development to date of the downhole gas compression project and gives the Group
another product line to bring to the market using its core technologies. It is
the start of a major business development opportunity which is expected to have
significant international ramifications throughout the upstream natural gas
industry.'ENDS.

Although loss making at the moment it shouldnt be very long before this one turns the corner.

Outlook

The Company has a loyal, talented workforce dedicated to the innovation and
exploitation of the technology. Successful trials have demonstrated the
commercial performance in Corac's industrial air compressor and its seals. The
Board is striving to deliver the right manufacturing and sales licences which
will yield the best returns in the long term.

We are confident that a number of deals, which have been subject to recent
intensive negotiation, will be successfully concluded in the near term.

Short to medium term investment, and anyone interested should DYOR and please remember you are responsible for the timing of your buying and selling actions.

cheers GF.

hangon, sorry, no joke, only an observation on fitness for purpose for this company.

StockMarketWire.com
Corac Group has stripped down the downhole gas compressor (DGC) at Spadeadam in Cumbria following a system test failure in December.

Corac said one compressor reached full speed but one would only run at low speed and the third did not start at all.

Corac said the DGC had been stripped down and inspected as part of a rigorous failure analysis process at its workshops in Uxbridge.

The non-starting motor was due to failure of a soldered contact in the electronics module that was tested prior to departure to Spadeadam, and was fully functional at that time.

It is not possible to attribute this failure directly to either vibration or temperature effects, but it is strongly suspected that either or both factors contributed.

A back-up inverter has been substituted to correct this issue.

The partially running motor suffered a leak from a sealed oil system that insulates the DGC from its external sleeve.

The leak path is believed to have occurred through the motor power connector on the compressor in question.

This experience has led Corac engineers to improve the sealing of the motor connectors, to refine the oil filling procedure and introduce further validation of the integrity of the oil system prior to returning to Cumbria.

CRA aka EME ..... to be avoided by a long way ...... idea's great; performance = a total disaster and has been consistently

Pre-close Trading Statement

Corac is pleased to announce that its results for the year ended 31 December 2010 will be broadly in line with expectations after taking into account one-off costs of approximately 0.25m relating to restructuring the business. Preliminary results for the year ended 31 December 2010 will be published on Tuesday, 29 March 2011.

Following the successful fundraising of circa 21m gross proceeds in December 2010, which has significantly strengthened Corac's balance sheet, the Company is now focused on utilising these funds to implement its strategy of commercialising its core technology in order to realise value for shareholders.

Corac reports that its existing development partnership agreements continue to progress well and the Company's strengthened business development team has been working to advance the marketing and business collaboration with Baker Hughes in recent months. The Board is also excited by the positive reaction received from other recent meetings with global industrial operators who have expressed interest in working with Corac on existing, newly identified and future applications of the Corac technology.

i see that SharesMag has given this amoeba a puff ..... i have lost money on this one in the dim past, but still very much like the concept ..... IF they can ever get the pumps to work - there have been numerous promises over the years - it will make many marginal and geriatric oilfields very juicy propositions indeed

HOWEVER, this is currently all blue sky and the shares are MM only, so unless you want to stick the shares in a jam jar at the back of the cupboard, AVOID for the the time being, but perhaps keep an eye on them

Me to (lost money), sold out at a loss many moons ago.
2517

Will this recover ? Keeping a watch. The company had a good order book at the end of June

What year ?

Thought they had the potential to recover in my 16th Aug post, and indeed they have. Up a further 6% today.

Corac unit clinches major submarine contract
StockMarketWire.com
Corac subsidiary Atmosphere Control International has secured multi-million pound international submarine project.

Corac said ACI had finalised contractual discussions with DCNS, the French naval shipbuilder and supplier of the national submarine programme, for the supply of oxygen production plants for the second and third boats in the Barracuda class programme.

This multi-million pound, five year contract within an existing framework agreement gives ACI strong visibility of build and maintenance revenues.

The Barracuda programme has a further three boats on the horizon with options within the framework agreement for ACI to supply systems for these over the next ten years.

At 9:42am: (LON:CRA) Corac Group share price was +0.75p at 12.75p


Story provided by StockMarketWire.com

up 12% :-))

the concept is and always was terrific, but the 5 year chart below tells plenty

You are right, I know, But for me a 100% rise is good.

i wouldn't dispute that, but as with AFC, the company has flattered to deceive far too often

Flying up 21%.

CET achieves significant milestone for DGC
RNS
RNS Number : 9422O
Corac Group Plc
18 October 2012



Thursday 18 October 2012



CORAC GROUP PLC

("Corac" or the "Group")

Corac's subsidiary CET achieves most significant milestone to date in the DGC programme



Corac is pleased to announce that its subsidiary, Corac Energy Technologies (CET) has achieved its most significant milestone to date in the development and commercialisation of its Downhole Gas Compressor * (DGC).



A fully integrated prototype DGC system has successfully completed a test programme at the Spadeadam facility in Cumbria. The tests were carried out in the purpose-built flow loop, using methane at controlled temperatures, pressures and flow rates to represent the conditions that will be faced in the field deployment.



The team, which included representatives from our American development partner, performed a number of operational scenarios, followed by continuous operation over several days to confirm system function and steady-state operational performance.



Representatives from ENI were also present to observe the DGC in operation and discussions continue regarding a schedule for final testing and delivery of their DGC prototype system.



This is a significant achievement by CET engineers, who have resolved complex technical challenges facing the downhole electronics module operating in high temperatures. This means that development and testing on all six of the DGC subsystems is complete, and they have now reached a sufficient Technology Readiness Level (TRL) to go into downhole field trials.



The tested prototype DGC will now be prepared for transit to the United States where our partner will manage the deployment, commissioning and further testing in one of their live wells, supported by CET engineers.



As stated in the Group's half year results issued in September, the plan for the DGC development programme is to move the technology towards a less bespoke, core system specification that will satisfy higher volume deployments. Discussions have taken place to explore the potential for small batches of systems with a common configuration to operate in fields with wells of similar characteristics. Initial estimates indicate a batch of five similar devices is possible.



* The DGC is a compact high speed turbocompressor using CET's patented technology, deployed several miles underground in a declining gas well with the intention of extending production life and recovering otherwise unavailable gas reserves.





Phil Cartmell, Chairman of Corac Group plc commented on this milestone:



"This achievement represents tangible progress for CET and the Group and reflects the commitment of our team and partners. We look forward to supporting the field deployment and testing phase for the American DGC.



"This is a major step towards achieving a commercial DGC proposition. This and our other compressor technologies will enable us to provide high value products to leading energy and industrial customers in attractive global markets."

Sold my holding

if i read that correctly, CRA have STILL not got a viable product, even though they have pretended for several years that it was nearly nearly nearly up and running ...... company should have its registered office in melton mowbray methinks

I was going to stay in cynic, not worth the risk.