"By the age of 21 Meade Lewis was the chief information technology officer (CITO) of multiple oil and gas firms where he focused on resea...
We have made some massive progress since the beginning of the campaign. From planning for a successful Series A round of funding, to improving our solution set, we are making moves on disrupting the energy market!
Planning for a Series A
Collision ALPHA, a conference focusing on investments into startups within the tech industry, has selected us as one of the elite few to attend at no admittance cost! This will give us the opportunity to pitch to the biggest names in investing and multiply our ability to innovate.
With a global audience, we are presenting our technology set in a TEDx talk titled "Teaching Old Industries New Tricks". Check tedxpsu.com to learn more about the speakers and find information on where to get tickets for the February 11th event.
Artificial Intelligence (AI): Being able to parse through and sort millions of data points, generated every day, requires some incredible AI. With our research and development, we continue to push our deep learning systems and neural networks to new heights.
Sensors and Internet of Things (IoT): Our devices have gotten a facelift! The housing has been made even more robust, capable of withstanding 2,000+ foot pounds of force. In recent studies, we have found that sonic booms can cause malfunctions to valves. With this in mind, we have included a new factor into our analysis. Battery life has also been improved so downtime is a thing of the past!
Security: With RSA encryption, database separation, and secure communication systems, we ensure that our customer data stays private. Likewise, we make sure to reduce the likelihood of data tampering at any point of the collection.
Better data, less leaks, happier environment.
As our campaign is coming to a close, make sure that your friends, family, and co-workers don't miss out on the opportunity to invest in our disruptive technology! Keep sharing our journey and our world change with others!
The founder, Meade Lewis, is speaking at TEDxPSU this February. This event will take place in State College, Pennsylvania on February 11th. In case you cannot make the live event, there will also be a video published by TEDxPSU, on YouTube, a few months after the talk.
The talk will be titled "Teaching Old Industries New Tricks" and will focus on how mIQroTech is changing the world of tomorrow by applying twenty-first century technology to the energy sector.
Learn about Meade and the other speakers here: tedxpsu.com/speakers
See you there!
The vision of mIQroTech is all about a safer, greener world. With that, our technology set will not only be focused on pipeline longevity.
We aim to have the mIQroAware systems, our IoT devices with Artificial Intelligence, mass producible by Q2 of this year. This fits hand-in-hand with our addition of major customers by Q3. Focusing on the mIQroAware solution set will give us the revenue and momentum we need to fund future projects.
By Q1 to Q2 of 2019, we hope to have our Deployable Drone systems working to locate and determine the severity of ruptures. This will reduce the response times and maximize cleanup efforts. Additionally, by this time, modification to the mIQroAware systems will be completed for analysis of frack rigs and deep sea drilling assets.
We plan on taking 5% of the TAM by 2022 ($325 million), so focus on both customer acquisition and marketing is crucial. By this time, we also hope to have begun our first lateral expansion into another market: Water.
Over 10% of fresh water is wasted every year through needless leaks. The systems we have already created for oil and gas could be modified to prevent that. Likewise, getting into smart asset management in purification systems would go conjointly with our already existing solution set.
We hope to get into overseas security. Estimates are as high as 70% are from black market oil and gas. If we could remotely detect these groups, shut down the pipelines, and encrypt the systems, they would lose the capability of selling the commodity.
What we want to do at mIQroTech is prevent the environmental waste and violence that comes with it.
We are aiming for a smart energy industry.
Over 500% of our minimum goal! Keep sharing the mIQroTech vision with friends and family through email, social media, or in person! We cannot thank our investors enough for enabling a better tomorrow!
We have been plugging away at the development of mIQroTech!
Increasing Our Maximum Goal
With all of this news, an in preparing for the future of mIQroTech, the future of energy, we are increasing our maximum for our republic campaign. This enables us to have added capital for R&D, patents, marketing, and the like while providing us a longer runway to reach Series A and revenue. With appreciate all of the investor excitement!
With this increase in our maximum, our investors need to re-confirm their investment amount.
mIQroTech was chosen to join an elite group of technology startups in Cincinnati! Ocean Accelerator provides access to mentors, funding, top investors, legal services, and office space. You can learn more here.
Big Name Advisor
We have begun discussions with the Former C.E.O. of a major fortune 25 company. These conversations are focused around him becoming a critical growth advisor and leveraging his connections in the future!
Join us as we discuss mIQroTech with thousands of listeners from across the world! This event is scheduled for Saturday, January 6th at 2:00pm EST (1:00pm CST). You can listen to the interview by clicking here.
Glad to be sharing our success with you!
As always, we thank each and every one of our investors from the bottom of our hearts. Your support through sharing on social media, telling friends and family, and even emailing is critical.
Thank you for becoming part of the mIQroTech journey! Talk soon!
"The present is theirs; the future, for which I really worked, is mine.” - Nikola Tesla
Internet of Things (IoT): Interconnection via the Internet of computing devices embedded in everyday objects. (Pipelines)
Artificial Intelligence (AI): Development of computer systems able to perform tasks that normally require human intelligence.
Our devices capture, what we are terming, a “Six Factor Analysis”. Although many of these variables have multiple layers to them, the primary variables we measure are:
Studies have found that tapping in to the pipelines to attach transducers internally can be a source of leaks. To avoid this, we collect all of our variables externally.
We use neural network technology to analyze our data. Neural networks are a decision tree; Data goes in, is compared to findings and mathematics that are both pre-programmed and changed by the AI, and decisions come out the other end.
Simply put: AI can "see" things that humans cannot.
Over $90,000! Final stretch! Share the campaign with friends and investors through email, social media, or over a holiday dinner!
"True success begins the second that you start giving back"
Our plan to give back is two fold:
"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
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.
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.
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:
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.
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 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.
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.
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.
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.
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.
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.
Your name on the "investors" page of our website to thank you. You can choose not to have your name listed.
Limited (130 left of 250)
Our engineering runs off of coffee. You get an investor exclusive mug with our logo to show your support. (All of the above included)
Get your very own mIQroTech t-shirt to show off your investor status! (All of the above included)
Get access to live Q&A/progress sessions with the Founder and Co-Founder over webcam! (All of the above included)
An individual meeting with the Founder via webcam! (All of the above included)
Limited (21 left of 25)
Get invited to an exclusive investor event/party at our office to celebrate the completion of the campaign! (All of the above included)
Limited (48 left of 50)
Get invited out to the lovely State College, Pennsylvania, where we will travel to see our devices in action! We also enjoy food, so let's do dinner and coffee! (All of the above included)
Limited (5 left of 5)
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.
I love tech for the futureF Joseph BejaniInvested 1 minute ago
I believe this is a must do solution for the future of our children, grandchildren and protection of the environment.Kim WhitefordInvested 1 minute ago
To assist future generations in overcoming drastic environmental disasters associated with oil pipelines. To assist a forward thinking company to create a great service/product and realize their dreams.Clarissa WiltonInvested 2 minutes ago
I believe in iot applications for reliability. Have you considered ultra sonic thickness?george guzauskasInvested 2 minutes ago
for the future and my retirementGareth RichardsInvested 1 minute ago
Seems like an interesting use case for IOT and big data.Ken CochraneInvested 1 day ago
It's our 21 century tech neededMary CooInvested 2 days ago
i think it has a brilliant idea.Jubin TaghdirInvested 2 days ago
Because the application helps to conserve nature.FRANCI MERSLAVICInvested 2 days ago
Solves a dynamic problem.Taji McCulloughInvested 3 days ago
interestedakram bachaInvested 3 days ago
This is a great idea to solve potential issue with pipeline leak that will ultimately save money in the long run. Great investment!Kayla JointerInvested 4 days ago
Innovative Internet of things & Artificial Intelligence Technology.Kapil KapoorInvested 4 days ago
there is potential hereJulius SchenckInvested 5 days ago
It's the future of things!Tony BackusInvested 5 days ago
AI: The servant will become the masterJoel YaninasInvested 6 days ago
I am hopeful that the oil pipeline monitoring market will grow tremendously as projected and mIQroTech will be successful and profitable.Kinson AuInvested 6 days ago
Quiero invertir en startups para ayudar a otros. Mi hermano también tiene una startup en España planetsport.es Gracias.Román ParraInvested 7 days ago
I think IoT will be used really useful for the social infrastructure.Sangpom LeeInvested 7 days ago
I believe in your companyVishal PatelInvested 7 days ago
Investors should verify any issuer information they consider important before making an investment.
Investments in private companies are particularly risky and may result in total loss of invested capital. Past performance of a security or a company does not guarantee future results or returns. Only investors who understand the risks of early stage investment and who meet the Republic's investment criteria may invest.
Republic does not verify information provided by companies on this Portal and makes no assurance as to the completeness or accuracy of any such information. Additional information about companies fundraising on the Portal can be found by searching the EDGAR database.