Spectur, which listed on the ASX on August 1 with mainly sophisticated investors on board, yesterday announced it had lodged two patents, both which could have considerable applications.
The first is for a gas detection technology that can identify leaks in remote pipelines without the need for physical inspection; the second is to integrated LiDAR camera technology in perimeter security, but is also used extensively in oil and gas exploration.
Managing director Peter Holton, who founded the company with executive chairman Richard Wilkins, told Energy News that Spectur was already working with a "major" oil and gas company on the pipeline leak detection technology.
Both are run on a cloud-based, Internet of Things-type platform.
Ideally, he would like an oil and gas partner on board to commercialise it by early next year and growing further beyond that; while he was also open to the LiDAR technology being applied to the energy sector.
TNT is currently interested in the LiDAR technology to use on huge sites with perimeter fencing that is costly to install security on by the time the power is dug in and the communications system is installed.
The pipeline leak detection technology is a low-cost solution via radio link back to Spectur's camera systems, so a mesh network can be set up on a site then have numerous little gas detectors scattered around.
The system uses IoT and Software as a Service technologies to enable remote monitoring of plants and pipelines to detect potential dangerous gases and vapours, as well as other monitoring services.
The system includes an automatic alarm, detecting and isolating with pinpoint accuracy where a gas issue has occurred; and gives real-time vision to help identify potential causes of leaks or of hazardous conditions.
Traditionally, remote gas pipelines require physical or drone inspection whenever a potential leak is detected.
Spectur's technology allows for faster detection and identification of potential issues without the costs of direct human inspection or flying a drone across the area.
The patent applications follow the establishment of a research and development centre in Melbourne that will drive commercialisation of its new pipeline of products playing a key role in Spectur's "aggressive" growth strategy.
"Spectur is built on an ongoing and relentless commitment to research and development and these two new technologies add to our strong pipeline of products and services that we will bring to market to help drive sales growth," Holton said.