Dear , 

Infrastructure such as oil refineries, nuclear plants or wind turbines all need to be regularly inspected for non-visible defects such as corrosion or cracks. This is typically a manual, time consuming process which can be subject to human error. The asset is often out of action whilst the inspection is being made and consequential costs can potentially run into millions of pounds.

Inductosense’s battery-free, wireless ultrasonic sensors can be permanently fixed to a structure for through-life inspection.  This unique technology reduces inspection time, asset downtime and human error from the inspection process and can provide an order of magnitude cost saving to the customer.  As the sensors do not require batteries and are very compact they can be fixed in places where conventional sensors cannot go, such as underneath coatings. Remote monitoring is possible with an internet of things (IOT) module and data analysis available via a cloud-based platform.

Inductosense, which was founded by Dr. Chenghuan Zhong, Dr. Anthony Croxford and Prof. Paul Wilcoxis in July 2015, is a spin-out from the Ultrasonics and Non-Destructive Testing Group at the University of Bristol.

The Technology

The Wireless and Non-Destructive (WAND) technology consists of 2 parts, an ultrasonic sensor that is permanently fixed to the structure being investigated and a measurement probe. The sensor does not contain any batteries, and is activated by non-contact inductive coupling when the WAND probe is close by. The sensors are less than 1mm thick and can be attached in areas that are usually difficult to monitor for defects, such as underneath coatings or within a structure. The customer can access the data and receive analytics and trending though a cloud-based platform.

Inductosense launched their first product at the end of 2016 and have since sold a number of systems to prominent names in the inspection industry. They are currently progressing with trials on assets with partnering companies with the aim of deploying quantities of sensors next year. The company has in development an IOT module for remote monitoring of the sensors, cloud-based analytics software and a range of sensors for different monitoring applications.

The Opportunity

Non-Destructive Testing (NDT) is used extensively across a range of industries to evaluate the properties of a structure without causing damage. These industries include Oil & Gas, Nuclear, Automotive, Aerospace, Defence.  In 2016 the NDT market was estimated to be worth $15bn and it is estimated to grow to almost $24bn by 2022 (MarketsandMarkets Jan 2017).

Inductosense is initially focused on Energy Infrastructure (e.g. refineries, nuclear plants, wind turbines), but longer term will aim to target applications with composite structures (which spans across many industries). They are aiming to become the leading provider of permanently installed NDT sensors by having over 100,000 sensors deployed by 2022. 

IP

The IP Portfolio covers various aspects of the sensor design and configuration. There is IP in the analytics software, modelling software and device designs. The IP is either owned by Inductosense or exclusively licensed to Inductosense from the University of Bristol. There are 2 granted patents in the UK, with a further 3 patents pending.

The Team

Dr. Matt Butcher, CEO, was previously a commercialisation manager at Bristol University and worked with the founders to develop the company. He has undertaken directorships and senior commercial roles in a range of engineering companies. He became full time in June 2016.

Dr. Chenghuan Zhong, CTO & co-founder, developed the technology during his PhD and further research at the University of Bristol. He became the first employee of Inductosense in October 2015 and is leading the product and application development.

Dr. Anthony Croxford, CSO, co-founder & investor, is a senior lecturer at the University of Bristol, a member of the British Institute for NDT technical committee and has extensive range of contacts in the NDT field.

Chris Brill, Chairman & Investor, is a successful entrepreneur who has successfully grown three start-ups in to multi-million-pound business and won several fast growth awards including Deloitte & Touche Fast 50 and Sunday Times Tech track 100.

Tom Knowles-Jackson, BD Director, is an ex-army major and an experienced global sales and marketing director. He has held senior positions at FTSE250 defence company and has experience of guiding business development for start-ups.

The Outlook

Inductosense has made an impressive start in its commercialisation programme, with several promising engagements with prominent industry players. Industry-wide investment in NDT, together with the seeming relentless progress of industrial IoT means Inductosense is in a “hot” space. The challenge now is for the company to convert its early-stage commercial promise into significant and valuable contracts.

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