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2015 SGICC Innovation Contest Southpointe, PA - May 18, 2016.

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Presentation on theme: "2015 SGICC Innovation Contest Southpointe, PA - May 18, 2016."— Presentation transcript:

1 2015 SGICC Innovation Contest Southpointe, PA - May 18, 2016

2 Who we are: An ultrasonic technology startup focusing on installed sensors, Remote Monitoring and Diagnostics and the Internet of Things. Located in Boalsburg, PA.

3 Our Team: Key personnel from General Electric Inspection business >100yrs combined experience in NDT products and services

4 What we do: Develop and manufacture industrial ultrasonic equipment to measure wall thickness and corrosion rate. Use latest wireless technologies, cloud infrastructure to meet measurement and monitoring needs at the lowest cost/price. Convert users from manual and/or invasive technologies to improve safety, reduce cost and drive predictive maintenance.

5 The need for inspection?

6 What are the challenges of current inspections? Safety Accessibility Cost Poor data US cost of corrosion est. @ 6% of GDP

7 Where is our market? Oil and gas: Upstream Midstream Downstream Power Generation Nuclear Fossil Total Available Market for Equipment and Inspection of Corrosion > $3B

8 Upstream: Sand erosion monitoring Offshore NDT Injection Point Downstream: Difficult access – high temp, insulated, elevated Injection point Crude overhead Corrosion rate, process control Midstream: Buried Pipelines Unpiggable lines 49 CFR 192 Applications:

9 Why monitor instead of manually inspect? 1.Safety / Loss prevention – loss of assets, loss of life, lost production, environmental damage / fines, damage to company image. Historically poor data quality / integrity. 2.Cost of access – scaffolding cost, cleaning, insulation removal, confined space, crane access, offshore access, personnel costs. (Over time, inspection costs will be increasing, monitoring costs decreasing) 3.Corrosion management – trending, verification of corrosion mitigation strategies (<5MPY), feedback for chemical inhibitors, planned maintenance. 4.Code compliance for any OSHA PSM-regulated site.

10 The Remote Monitoring Pyramid Remote Monitoring Potential vs. Cost per Inspection Point 10 Most expensive/critical areas to inspect, corrosion rate monitoring (5-10%) @ $2k -3k per point Moderately expensive/critical areas to inspect (10-20%) @ < $ 1000 per point Least expensive/critical areas to inspect (70-85%) @ <$200 per point SNI working to offer the lowest cost/point solution in the industry enabling remote inspection! OPEX vs. CAPEX spend

11 Commercial Status: Two products launched, smartPIMS (wireless and wired) and matPIMS (wired, array) Field trials and beta testing ongoing with several key customers. Initial systems sold and many quotations outstanding.

12 Customers: 1.PG&E – System sold and under evaluation for additional systems 2.Andrew Costain: Acuren – Field trial pending 3.Danny Keck & John Nyholt: BP – Development proposal submitted 4.Joe Krynicki: Exxon Mobil R&E – Trial underway on bolt monitoring 5.XOM Baton Rouge – System quoted 6.Total (Paris) - Visit to Total HQ pending 7.Scott Taylor: ConocoPhillips – Trial Completed 8.Matt McCaffrey: Phillips 66 SF Refinery – Trial proposed 9.Mark Zeller: Aux Sable (JV BP & Enbridge) – Trial scheduled 10.Mike Quarry & Steve Kennefick: EPRI – Trial underway 11.Adnan Mansour : GE Water – Trial Proposed Completed 1 st system sales and demo kits Product trials underway with key customers

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