Ingu Raises Capital To Scale Miniature Pipeline Screening Tool
Ingu Solutions, the company behind the Pipers’ pipeline inspection technology, has raised additional capital from two firms, Energy Innovation Capital and Chevron Technology Ventures (CTV). The company said the funding will enable it to grow its employee base and scale its data collection platform and anal
Launched in 2018, the Pipers technology gives companies access to out-of-reach pipeline assets. It uses miniature inline sensors to detect leaks, geometric defects, magnetic anomalies, and deposits. The sensor system is designed to perform measurements such as movement, temperature, and magnetic field within a liquid, and it is suited to measure the actual flow behavior of liquids in pipelines and open water. Data captured by the sensor can help reveal information about the conditions to which resource material is exposed.
“Pipers provide the oil and gas industry invaluable insights in their pipeline assets, leading to increased performance and safety while reducing costs. We’re excited to support INGU in scaling the business globally,” George Coyle, managing partner at Energy Innovation Capital, said in a statement.
INGU CEO John van Pol said that the company went from trials of the Pipers technology to commercial release in 18 months, and after 18 years of commercial availability, it has screened more than 100 operational pipelines for more than 30 operators.
“We’re fortunate that our investors share our vision for the future, bringing with them a strategic network and industry expertise to help us deliver results and scale fast enough to meet market demand.
CTV had previously selected Ingu as one of the first two companies to receive funding under its Catalyst Program, an initiative designed to help early-stage companies promote technology for advancing oil and gas applications on a global scale.
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04 December 2019
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