Leak detection company headquartered in Tampa, FL, mIQroTech Inc. is joining the Chevron Technology Ventures (CTV) Catalyst Program, launched in 2017, in order to further develop their smart sensors and artificial intelligence (AI) technology.
Technology from mIQroTech implements AI and internet of things (IoT) to predict pipeline leaks, which can be reported in a dashboard accessible by phone, tablet, or computer. Additionally, mIQroTech’s sensor system does not rely on leak-detection resources such as radioactive materials, welding, or pipeline tapping.
CTV’s Catalyst Program works to accelerate the early stage companies that can provide beneficial technology to the energy industry. Earlier this year, CTV, Chevron Inc.’s venture capital fund, commissioned a study to evaluate the potential for carbon capture technology.
Now, Catalyst Program participation is giving mIQroTech the ability to move forward and complete technology testing and validation, key milestones for progress.
“Our goal is to deliver a transformative change to the global oil and gas industry,” said mIQroTech CEO Meade Lewis. “Better data, analytics, and intelligence will add efficiencies to pipeline operations and empower more informed and faster decision-making. We appreciate that Chevron recognizes our potential to deliver solutions to enable safer delivery of oil and gas.”
mIQroTech has previously designed offshore solutions such as its mIQroAware solution, a monitor for subsea pipelines. The company has also received investments from Plug and Play, Ocean Capital, Republic, and Harvard Business School Alumni Angels. Through a partnership with Homeland Manufacturing Services, mIQroTech’s manufacturing operations take place in Bellefonte, Pennsylvania.
© 2020 Natural Gas Intelligence. All rights reserved.
ISSN © 1532-1231 | ISSN © 2577-9877 |