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Feb 22, 2016 8:45 AM ET

Archived: DASHBOARD: Harnessing data analysis to deliver profitability, safety, security & environmentally sound outcomes

iCrowdNewswire - Feb 22, 2016

Dashboard is an early stage tech company formed to provide automated remote monitoring solutions for collecting/consolidating near-real-time data from sensors in both remote/accessible locations and for transmitting the data, using satellite/cellular/wireless communications, to a “private cloud” platform for analysis and retention. Analysed data is then presented via a “dashboard” interface, providing a view of the status of the given equipment, process or asset being monitored in real real-time. The solution will be applicable to a wide range of industries, however the the first product (Limpet) provides continuous monitoring of oil & gas pipelines, combating worldwide leakage & theft.



    Limpet joins ultrasonic flow measurement with system-on- the-chip technologies and will be smaller than current sensor units. A key design objective was a simplified installation process, facilitating retro-fitting to existing infrastructure and enabling installation by trained staff. The hardware for deployment is a non-intrusive pipeline flow sensor for remote use on oil & gas infrastructure, providing near-real-time status via the satellite to the dashboard. The overview will be fully integrated with a high resolution terrain map view with appropriate alarms/reports for maintenance and security.


    Only 5% of the world’s 3.5 million miles of pipelines are fully monitored and a 10 year study by the US Department of Energy revealed that only 5% of leaks/spills were comprehensively monitored by existing solutions.Throughout the oil & gas sector, there are increasing concerns over lost revenue from theft, health and safety from leaks and terrorism, with the market being valued $36.9bn and the estimated cost of global oil theft in 2015 exceeding $60bn. Dashboard’s product also solves problems in other markets such as water, mining, and transport. Dashboard is perfectly positioned to take advantage of the drive for efficiency and the digital oilfield agenda being adopted across the industry.


    The Dashboard business model is for the provision of long-term (10-20 year) continuous monitoring contracts to a specified SLA (Service Level Agreement). Data acquisition hardware forms part of the contract & is thus incorporated into an OPEX solution rather than a CAPEX led investment. Each hardware appliance/data analysis regime/dashboard will be customised for the specific application (to which customers will commit a Non Recoverable Engineering contribution) with the pricing model for pipeline infrastructure being per kilometre per month. Additional services (such as integrated process controls) will be provided over and above the core contract with each contract being securitised.


    Whilst it may be concluded that the natural exit for investors might lie in the 3-5 year period, significant attention is being paid to all aspects of corporate governance, IP, remuneration, partnership engagement terms, OEM manufacturing etc. all of which will be the focus of due diligence both for successive funding rounds and an eventual exit. In addition to this, the IP strategy for the business is to allow for the licensing of the technology for a specific application in a given vertical (as a restrictive covenant) thus supporting ongoing diversification and creating the conditions for multiple opportunities for realisation events for stakeholders.

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