"True success begins the second that you start giving back"
Our plan to give back is two fold:
- Our mission
- Our team
"Be proactive rather than reactive”
We are giving back to the world by creating a safe, clean industry. It is much easier (and cheaper) to alert pipeline companies of problems than it is to clean up thousands of gallons of spilled oil. This goes hand-in-hand with a clearer environment; A cleaner oil and gas industry.
Passion + Experience = Game Changing Results
A team of Eagle Scouts with a passion for the environment. Not only that, but with substantial experience in both technology, engineer, and the petroleum industries, we have what it takes to see this project through. Bring those things together, passion and experience, we can change the world with our technology.
Obsessed with the idea of giving back, we are helping those around us whether it is fellow startups, churches, and even high schools!
Not only is it our job to better the environment with our technology but it is our personal belief to better the community around us
By investing, you are investing in a company that takes steps for a brighter tomorrow.
We are nearly 300% funded! Talk, tweet, post on Facebook; Let’s max out the campaign!
We plan to do live, unscripted update videos on the status of our campaign and the project. We will also have a Q&A session at the end of the events where invited investors will have the opportunity to ask their questions live.
Steps We Take to Budget
1) Setting a laser focus - Putting time and resources into creating one incredible system at a time is much more efficient than spreading resources out too thin. We are focusing our resources on the mIQroAware system as it has proven itself to be a valuable product and service.
2) Reduce Costs - Rather than spending haphazardly on development, we assess each expenditure and look for the highest value purchase. This holds true when talking about the components we are using in our beta modules to the cloud computing systems we are using for the AI. Low cost, high quality hardware components pared with scalable cloud systems helps us reach our financial objectives.
3) No Extra Employees - We have built a winning team. Justin is the database guru, Meade has hardware development and coding under control, Rich offers expert advice on financials and capital, while Dean is the industry know-it-all. Rather than spending extraneous money on unnecessary employees, we focus our resources on a few, industry leading advisors and engineers.
4) Using Resources Around Us - We have a lot of resources that help us operate efficiently. Partnerships such as a patent attorney who has agreed to file patents for much less than the average cost, network providers paving the way for our deployable devices, and other industry changers. In addition, we have free access to server clusters, for development purposes, to test our AI before submitting it to the cloud.
Every other week, we plan to do live updates on the status of our campaign and the project. We will also have a Q&A session at the end of the events where invited investors will have the opportunity to ask their questions live.
About the Keystone Pipeline Leak
A few days before the launch of our campaign, I received a storm of emails about the breaking news of the Keystone Pipeline leak. I wanted to discuss this matter as a case study for the systems we are creating here at mIQroTech.
For those of you who are not aware, here are some quick stats on the event:
- 400 barrels, or about 200,000 gallons, of oil, from the Canadian Sands regions in Alberta, were leaked in North Dakota
- The pipeline is 2,147 miles in length
- Same pipeline that was protested this summer over concerns of leaking into waterways
This was a horrific event, a tragedy, and exactly what we aim to prevent with our product. Stopping these disasters before they happen is our mission.
The Keystone Pipeline is a “new” pipeline; commissioned in 2010 the oldest sections could only be seven years old, however, this section is much newer than that. Based on data we have collected, 60% of pipeline leaks are related to corrosion. Due to the age of this pipeline, unless there was a heat treatment failure or a coating failure, I do not suspect the leak was caused by corrosion. What this leaves, primarily, is operator error, mechanical failure, weld failure, damage from others, or earthquakes.
We can quickly rule out earthquakes as there was no seismic event detected by USGS.
However, deducing further is impossible. Pipeline monitoring systems may have been in place for TransCanada, but the cause wasn’t easily determinable as they are still “trying to determine the cause”.
That is where our device, the mIQroAware system, shines. Not only could we have potentially caught this event long before it happened, but even if it were unpreventable, we could have shortened the detection times and given definite causes for the rupture. We are still waiting on a price tag for TransCanada to pay, but our analysis shows it will cost anywhere between $180,000 and $4,000,000+ depending on a variety of factors.
Capable of preventing 93 leaks per year for the average sized customer, saving them over $18M every year.
Targeting a $8.72 Billion addressable market.
Subscription-based business model; recurring income.
6 game changing patents in the works, many more to come.
A projected 96% AI-assisted accuracy in determining pipeline risks.
Oil and gas industry has a massive leaking problem.
Predict leaks before they happen.
Our solution set is three parts:
A hardware device, using Internet of Things technology, collects data using the most important variables to pipeline longevity. This data is then transmitted wirelessly to our cloud-computing systems. Finally, this data is analyzed by artificial intelligence modules to help see risks humans cannot.
Our Internet of Things (IoT) devices are rigorously tested to meet the demands of the industry.
Recording this data at up to 48 data-points per second, this data is submitted to our cloud-based storage for review from our Artificial Intelligence modules.
Thousands of miles are added every year to the already enormous, 2.5 million mile network of pipeline.
A medium-sized company can save over $18 million dollars by switching to our artificial intelligence system, allowing that customer to avert 93 leaks every year.
Our technology not only alerts stakeholders in the case of a sudden disaster such as an earthquake, but using our AI, we analyze the longevity of the pipeline and its wear to predict failures.
Through what we call our "Experimental Partner" program, we are perfecting our technology with some of the biggest names in natural gas.
Targeting mid-sized pipeline and production companies in Pennsylvania, West Virginia, Ohio, and Texas, we are aiming to gain dozens more customers within first six months of production.
Our business model is two fold:
- Customers buy each device.
- Subscription fee to access the interface and receive alerts.
Customers pay for a subscription fee based on how many devices they have. These subscription tiers are below:
We want to overwatch every pipeline in this country; All 2.4 million miles. That will be nearly 500,000, industry changing, devices deployed.
We are aiming to capture 5% of the pipeline monitoring market in the next five years.
Future Vision: Innovation Industry Wide
After solving the midstream pipeline crisis, we plan to design three systems to further expand our reach on revolutionizing the oil and gas industry:
Our objective in these projects is to become the "missing link" between the oil and gas market of today and the energy source of tomorrow. This, what we are terming as "Petroleum 2.0", the safe oil and gas market, will bring the industry the innovation it is so desperately in need of.
We provide our customers with many features the competition does not:
Our devices are also mounted externally; no need to tap into the pipeline. In addition, our solution is cheaper than our competition.
Meet the Founders
We are a lean, mean innovation machine. This mitigates our costs and allows us to focus on our solutions and projects.
Meade Lewis, Founder - Moving to the energy industry, Lewis was quickly elevated the Information and Technology Officer role for two growing firms. There, he managed projects and visions of radio frequency identification, hydrostatic pressure testing modules, embedded microprocessor board technology, and real-time sensing and computing systems. In this next step, he plans on bringing his leadership, inventive mind, and IoT expertise to the oil and gas, mid-stream market.
Justin Stewart, Co-Founder - During his 15 years of database admin experience, Stewart has developed proprietary processes and work products propelling project deliverables and client relationship with success. With clear vision, strong design and creation instincts, and passion for honest communication, Stewart confidently commands the helms of process efficiency and product quality. The IoT space feels like home for this gadget guru with database prowess.
1. Huge, growing market with little innovation
With our state of the art technology set, we are on trajectory to truly shake up the industry. With petroleum demand ever increasing and thousands of miles of new pipelines made every year, pipeline monitoring will grow to meet that demand. Valued at $8.72 billion by 2026, our disruptive approach is aiming to capture 5% of that market in just 5 years.
2. Funding a better, greener future
We are focused on creating a safer petroleum industry; Petroleum 2.0. Projected to have a 96% accuracy, our Artificial Intelligence is using advanced neural networks and our IoT solution captures data at blazing speeds. Our solution will make pipeline leaks a thing of the past; No more environmental damage and oil and gas companies save money in the process. This makes our solution beneficial for everyone.
3. Subscription-based, Recurring income
Our customers are here to stay. Not only is our service invaluable to them, but our tier-backed subscription market strategy makes sure that customers can expand their service as they need to. This means that rather than being a single purchase, customers continue to pay for the services and data we provide, producing profits to fund new projects.
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Everyone helping build mIQroTech, not limited to employees
No. We start there with new clients, but we are doing true, artificial intelligence once the sensors acquire enough data points
We have a lot of proprietary systems involved. Collecting all of our variables external to the pipeline, there is proprietary methodology used in that collection. Additionally, our board design, itself, as well as the artificial intelligence modules are internally produced.
Much of our methodology is still kept secret, but here is some of the information:
Vibration - Accelerometers measure the vibration in m/s2.
Metallic Wash - We measure the metal particulates flowing downstream of the pipeline.
Temperature - We measure the temperature externally using some fun math and standardized thermometers.
Geo Location - Parsed out NMEA sentences provide location within 3.6 feet.
We offered early adopters admittance to our Experimental Partnership Program where they received prototype devices so that we could test our hardware. These partnerships will continue until full scale production begins.
As of filing date, our team has no employees in the strict legal definition. Although the Justin and Meade are working full time on this project, they not count as employees for the purposes of this disclosure.
Patent filing fees, research and development, and marketing are our largest expenses.