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$IEQ IntellaEquity Subsidiary Sensor Receives $292,200 in New Work Orders $SENS.ca

Posted by AGORACOM-Eric at 10:55 AM on Tuesday, January 15th, 2019
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  • Sensor Technologies Inc. (“Sensor”), has received work orders for the first two (2) new electric field mapping systems (“EFM”)
  • Client is one of North America’s largest pipeline companies.
  • The work orders received are for the client’s various assets in Canada.

Sensor Technologies Corp. (CSE: SENS) (the “Corporation”), a developer and marketer of patented non-intrusive sensing systems, is pleased to announce that its wholly-owned subsidiary, Sensor Technologies Inc. (“Sensor”), has received work orders for the first two (2) new electric field mapping systems (“EFM”) from one of the Corporation’s current clients which is one of North America’s largest pipeline companies. The work orders received are for the client’s various assets in Canada.

The work orders are the first in a proposed program whereby the client will be replacing its existing systems with Sensor’s EFM systems. As part of the work orders, the Corporation will provide the client with the monitoring of its various assets along with engineering field services and data analysis. The Corporation estimates that the aggregate value of the work orders is approximately $292,200 which is based on a five (5) year equipment, field services and data analysis commitment by the client.

Pursuant to the work orders, the Corporation will deploy the two (2) electric field mapping corrosion monitoring systems (the “EFMC Systems”) across the client’s assets in Canada. The client will pay a recurring fee to the Corporation to access the data gathered by the EFM Systems. The client has the ability to extend the term of the contract based on its specific needs and requirements.

“These work orders represents a new recurring revenue model for the Corporation,” said Jay Vieira, the President of the Corporation. “These orders is a validation of the continuing efforts of the Corporation in offering new services and products to its existing and new clients. The Corporation is currently in discussions with the client with respect to the execution of additional work orders from the client pertaining to similar service revenue recurring model.”

About the Corporation

Sensor Technologies Corp develops non-intrusive asset health monitoring sensor systems for the oil and gas market to help operators track the thinning of pipelines and refinery vessels due to corrosion/erosion, strain due to bending/buckling and process pressure and temperature. The Corporation’s FT fiber optic sensor and corrosion monitoring systems allow cost-effective, 24/7 remote monitoring capabilities to improve scheduled maintenance operations, avoid unnecessary shutdowns, and prevent accidents and leaks.

Corporation contact:

Jay Vieira, President, CEO
email: [email protected]

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