Augusta Makes New Progress in Developing the New Generation of Electric Field Mapping Systems
January 30 2014 - 8:16AM
Marketwired
Augusta Makes New Progress in Developing the New Generation of
Electric Field Mapping Systems
TORONTO, ONTARIO--(Marketwired - Jan 30, 2014) - Augusta
Industries Inc. (the "Corporation") (TSX-VENTURE:AAO), through its
wholly owned subsidiary FOX-TEK Canada Inc., is pleased to announce
that it continues to have success with its various non-intrusive
monitoring systems with upwards of 80 systems installed throughout
the world. One of the reasons for this success has been the
evolution of the Corporation from strictly a hardware manufacturer
to more of an engineering focused group with custom turnkey
solutions.
The core technology for the Corporation's products continues to
be based on the same basic principles. Through working and
consulting with its clients, the Corporation came to realize that
the majority of its clients require the Corporation's products to
have a high degree of flexibility and customization in order to
meet their expectations. To exemplify this approach, the
Corporation developed novel sensor array mounting techniques for a
number of its clients. This provides the Corporation with greater
flexibility in mounting non-welded arrays on curved sections of
pipe.
On the engineering front, both of the Corporation's Electric
Field Mapping ("EMF") and Fiber Bragg Grating ("FBG") technologies
continue to enjoy success. The Corporation has made progress in
developing its new generation of EFM systems. By going to a modular
design, the basic system has become much easier to configure for
small and large sensors arrays. The acquisition hardware has been
upgraded to use higher resolution electrics with an increase in
measured resolution of 6-10 times than what has been previously
attained. This allows the Corporation to accurately track changes
in smaller pits but, more importantly, react faster to changing
rates of corrosion. Real-time validation of a chemical program is
quite conceivable. The Corporation has also gone to a discrete
current source instead of using batteries as was previously used.
This makes for a more reliable system for long term remote
applications.
The Corporation is of the belief that the modular approach will
lend itself to be able to supply custom solutions for applications
which its previous systems might of not of been the best solution.
Being able to do very small sensor arrays (for example, to measure
1-2 pits) or very large arrays will ensure that the Corporation
will continue to be able to help its clients on a project to
project basis.
The development of the modular approach to system building has
also enabled the Corporation to offer its clients a portable
version of its EFM system. While the sensor array will remain
permanently attached to the pipe or vessel, the acquisition
equipment will be portable.
With the increasing number of client web portals, the
Corporation continues to make DMAT a powerful and useful tool. The
addition of custom portal configurations is now more of the norm
than ever. Last year a number of elements were either added or
changed to increase the reliability of the DMAT computing engine.
This has resulted in a more enhanced web experience for the
clients.
About the Corporation:
Through its wholly owned subsidiaries, Marcon International Inc.
("Marcon") and FOX TEK Canada Inc. ("Fox Tek"), the Corporation
provides a variety of services and products to a number of
clients.
Marcon is an industrial supply contractor servicing the energy
sector and a number of US Government entities. Marcon's principal
business is the sale and distribution of industrial parts and
equipment (Electrical, mechanical and Instrumentation.) In addition
to departments and agencies of the U.S. Government, Marcon's major
clients include Saudi Arabia-Sabic Services (Refining and
Petrochemical), Bahrain National Gas Co, Bahrain Petroleum, Qatar
Petroleum, Qatar Gas, Qatar Petrochemical, Gulf of Suez Petroleum,
Agiba Petroleum and Burullus Gas Co.
Fox Tek develops non-intrusive asset health monitoring sensor
systems for the oil and gas market to help operators track the
thinning of pipelines and refinery vessels due to
corrosion/erosion, strain due to bending/buckling and process
pressure and temperature. The Corporation's FT fiber optic sensor
and corrosion monitoring systems allow cost-effective, 24/7 remote
monitoring capabilities to improve scheduled maintenance
operations, avoid unnecessary shutdowns, and prevent accidents and
leaks.
The TSX Venture Exchange has in no way passed upon the
merits of the proposed transaction and has neither approved nor
disapproved the contents of this press release.
This press release contains forward-looking statements based
on assumptions, uncertainties and management's best estimates of
future events. Actual results may differ materially from those
currently anticipated. Investors are cautioned that such
forward-looking statements involve risks and uncertainties.
Important factors that could cause actual results to differ
materially from those expressed or implied by such forward-looking
statements are detailed from time to time in the Corporation's
periodic reports filed with the Ontario Securities Commission and
other regulatory authorities. The Corporation has no intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.
Augusta Industries Inc.Allen LonePresident, CEO(905) 338-2323
Ext 22atlone@marconintl.com
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