Illusense Secures $1.6M Funding from Sustainable Development Technologies Canada
Illusense Inc. has secured a $1.6 million funding commitment from Sustainable Development Technologies Canada (SDTC).
Adrian Banica, Illusense Executive Chairman stated, “We are very pleased with the financial and strategic support we have received from SDTC. With fossil fuels expected to be part of the World’s energy mix for decades to come, we have to find new and effective ways to maintain the integrity of transportation infrastructure such as pipelines. Illusense’s novel technology employs the accuracy of multiple lasers to create a 3D profile of the pipeline interior as it travels through the system for 100’s of kilometers at a time. The collected data will be analyzed to identify various wall defects such as dents, cracks, corrosion etc. down to 10’s of microns in size. Based on the feedback and support we have received from our industrial partners, we believe that this high resolution information will allow pipeline operators to better identify the high risk defects and target their repair and maintenance efforts more efficiently.”
“Sustainable Development Technology Canada is very proud to support the commercialization of Illusense’s innovative technology,” said Leah Lawrence, SDTC President and Chief Executive Officer. “This project will create green jobs for the local economy, increase efficiency in the sector and provide economic and environmental benefits for all Canadians.”
With the technology successfully developed and demonstrated in a laboratory environment, this investment will support its productization and field testing followed by instrument manufacturing and commercial deployment. The funds will be received over a project development cycle anticipated to last 2.5 years.
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