Oil, Gas and Aerospace Industries to Benefit from BCT Technology

FREDERICTON, NEW BRUNSWICK–(Marketwire – March 16, 2011) – A made-in-New Brunswick technology revolutionizing how governments manage civil infrastructure and recognized Monday with a $2.1 million investment by the Government of Canada’s Atlantic Innovation Fund (AIF) will now be taken to the growing Canadian aerospace industry, as well as the off-shore oil and gas industries in Newfoundland.

Inversa Systems Limited’s Backscatter Computed Tomography (BCT) technology optimizes the management of infrastructure by providing clients with valuable information on the internal state of structures. Similar to medical CT or CAT, but used on an industrial scale, the portable BCT technology allows engineers to diagnose infrastructure, much like medical CT allows physicians to diagnose patients. The AIF recognizes innovative Atlantic Canadian companies.

« The AIF will position Inversa for entry into the offshore oil and gas market and the aerospace market, » says John Bowles, President of Inversa Systems Ltd. « These two markets have significant technical challenges and are notoriously expensive to penetrate. The AIF award will allow Inversa to deal with these challenges. »

Inversa’s BCT technology has generated significant buzz since its creation. Government departments and major private companies interested in finding better ways to monitor infrastructure have taken advantage of the technology. Originally developed at the University of New Brunswick, BCT testing has recently been completed with the New Brunswick Department of Transportation. During the work, the BCT device solved the problem of managing an important but aging and costly piece of infrastructure-roadway culverts. The outcome of just one culvert inspection came a $250,000 savings for the department.

« Inversa has come a long way in the last five years, evolving from a PhD thesis, to lab proven method, to a field prototype and now to a product, which we are tailoring for client needs, in a variety of markets. I am very proud of the fact we have been able to make this transition towards commercialization and revenue generation, » says Bowles.

The move into oil, gas and aerospace is a response to the needs of these industries and a logical next step, he adds.

« These steps rely on establishing long term, mutually-beneficial partnerships within each industry, to create win- win situations and continuing to technically develop our product offering to exceed client expectations, » Bowles says. « With the support of ACOA AIF, I am confident Inversa will achieve and deliver on both these initiatives. »

Inversa Systems Ltd. was one of only seven companies in New Brunswick recognized this year by AIF.

« Inversa has always focused on developing its core technology first and never comprising on quality, Bowles says. « Inversa believes in building a solid foundation from which to grow our business, both technically and team wise. Technical direction is always driven by the market and client needs and we value feedback from every team member. Our team is something we take pride in developing, we believe in listening equally to everyone and considering all options before any decision is made. I think the team has been very effective in evaluating strategic operational decisions since day one, never allowing pressure to cloud judgement and never allowing compromises to be made with our core. The people are what make Inversa who it is and this is why we have had the success we have. »

For more information on BCT, please visit the Inversa Systems Ltd. website at www.inversasystems.com