NBIF Invests $500,000 in RtTech

FREDERICTON, NB—The New Brunswick Innovation Foundation (NBIF) today announced a $500,000 investment in RtTech Software Inc. The Moncton, New Brunswick-based company, sells software tools that allow big industry to find and fix problems that cause downtime and energy overuse throughout their automated production systems.

“What we like about this particular investment is how it’s a spin off from another New Brunswick company, ADM Systems Engineering in Saint John,” says NBIF CEO Calvin Milbury, “it was there that Pablo Asiron and his colleagues saw an opportunity to turn what was originally a one-off solution into a stand alone product, and with our investment, a brand new company.”

RtTech’s Real-time Energy Management Information System, RtEMIS, can pinpoint when and where any part of a system is using more energy than it should be. It can be as complex as a process that’s using more energy than it needs, or as simple as components that aren’t powering off when idle. Their Real-time Downtime, Uptime and Event Tracking System, RtDUET, allows companies to drill down through their specific processes to find the cause of downtime and poor utilization issues.

“At ADM, we knew that we were on to something that companies outside of our regional clientele could use as a stand alone solution, and decided that the best way to give the product the chance it deserved required a singular focus,” says Pablo Asiron, CEO of RtTech, “not only does our product help companies save money, it also helps the environment.”

High resolution photograph: Pablo Asiron, CEO – 300dpi

Both RtEMIS and RtDUET integrate with OSIsoft’s PI System, the world’s leading real-time data historian. As a result, RtTech already has among its customers industry giants like BHP Billiton, Barrick Gold, Rio Tinto, Flakeboard and Irving.

“What’s great about RtTech is that the technology was developed to meet an industry need, and the team has the industry contacts to scale the business,” says Milbury, “our investment will help the company beef up its sales and marketing activities.”