More than $30 billion of revenue is lost annually due to pipeline leaks, yet this substantial loss does not even begin to cover the losses for litigation, fines, and cleanup fees. The real victim, however, is the countless acres of land and water that is made subject to these travesties. In addition, it is estimated that 70% of extremist funding comes from black market oil and gas theft. By solving this problem, not only can we save our customers millions, we can help protect the environment, and even help defund terror.
Our solution set consists of two major components:
Internet of Things (IoT) Device: Leveraging the recent upgrades in microprocessing technology, we are able to create advanced IoT devices that measure the most important variables in pipeline longevity. Calling it our “Seven Factor Analysis”, we collect internal density, audio, pressure, vibration and impact, temperature, geo positioning, and corrosion rates. This patented technology system mounts externally from the pipeline so that no tapping is necessary as we have found that invasive monitoring systems are responsible for 2.8% of pipeline leaks.
- Artificial Intelligence (AI) Modules: Once the data collected by the IoT device, it is submitted, via 4GLTE networks, to a cloud-computing neural network where it is analyzed time and time again to allow the data speak. Trend analysis, normalization patterns, deviations, and much more are all assessed and weighed. Ratings are given for the health status of the pipeline based on the data observed. Should an immediate hazard be detected by the AI, updates are posted to the user’s Graphic UserInterface (GUI) as well as text messages and email alerts are sent.
The Market Size
With thousands of miles of pipeline being added to the network of more than 2.6 million miles already in operation in America, the market is growing substantially. In 2015, the pipeline monitoring industry was valued at $4.13 Billion; By 2026, it is expected to grow to $8.72 Billion (7.1% CAGR). With our innovation and approach being disruptive to our competition, we hope to capture 5% of this underdeveloped market in just five years.
Impact to Area
By creating a better monitoring system for the critical infrastructure that is oil and gas, those within the local communities not only will benefit from a safer and cleaner environment, but energy costs will be reduced substantially. This is due to the losses within the industry are passed to the end consumer.
Our mission isn't just to save the oil and gas operators money, but help protect the environment, defund terror overseas, and help to alleviate devastating costs of energy that Americans have to face every day.