South Jordan, UT (PRWEB) September 01, 2016
LiveWire Innovation, Inc. (LiveWire), a technology company using its patented Spread Spectrum Time Domain Reflectometry (“SSTDR”) to enable operators and equipment manufacturers to monitor live systems for the detection and location of hazardous and noteworthy electrical faults, announced that Viper Subsea Technology Ltd. (Viper Subsea) has acquired a one-third equity stake in the Company. Viper Subsea is a well-established, UK-based subsea engineering company that provides consultancy and develops products for the oil and gas sector worldwide.
Viper Subsea has developed and sells a line of products with unique capabilities for Insulation Monitoring (IM) of cabling and power infrastructure in harsh environments. The addition of LiveWire’s SSTDR technology to Viper Subsea’s proven systems enables an unrivalled ability to monitor for, detect, identify and locate all cable fault types, whether due to insulation degradation, open or short circuits, or hard to detect intermittent faults.
As part of the Viper Subsea investment in LiveWire, the companies have undertaken product development efforts, customer specific projects and cross-marketing of their respective technologies directly aimed at key markets, including the aviation, rail, utility and mining industries, as well as Viper Subsea’s core oil, gas and subsea applications.
In commenting on the transaction, John Baumann, CEO of LiveWire Innovation, said, “LiveWire is excited to have Viper Subsea as both a financial investor and a close industry partner. Their engineering skill-set, product development capability, targeted end-markets and complimentary monitoring techniques make them a perfect fit with LiveWire. The strategic focus of LiveWire since 2015 has been to partner with OEM’s and end-equipment manufacturers to integrate and embed SSTDR capabilities that is needed for wide scale deployment of the technology.”
Neil Douglas, Managing Director of Viper Subsea said, “SSTDR is a strong addition to Viper’s fault detection capabilities. When coupled with the Viper Subsea V-IR and V-LIM products, the combination of market-leading technology will transform the ability of clients to fully understand the integrity of their electrical cable infrastructure and pin-point the location of intermittent or permanent failures.”
In connection with the Viper Subsea investment, Mr. Douglas has become a member of LiveWire’s Board of Directors.
About Viper Subsea Technology Ltd.
Established in 2007, Viper Subsea designs, develops and supplies products and services for subsea control and distribution systems in the offshore oil and gas industry. The company is based in Portishead and has an office in Aberdeen, both of the United Kingdom. Viper Subsea has emerged as one of the subsea oil and gas industry’s most innovative companies and an example of British engineering prowess. A culture of continual investment in Research and Development has resulted in a series of innovative products, with 16 patents already filed. Over 80% of the company’s product sales are in export, with products installed worldwide. In addition to many prior awards and achievements, in April 2016, Viper Subsea won a Queen’s Award for Enterprise in Innovation for its ground-breaking V-LIFE Electrical Insulation Resistance Improvement System.
About LiveWire Innovation
LiveWire Innovation is the exclusive provider of Spread Spectrum Time Domain Reflectometry solutions through ownership and licensing of 12 patents in the area of SSTDR and related analytics and correlation techniques. The Company was started in 2004 with ties to the University of Utah through its co-founder, strategic advisors and employees, and initial development and applied application of SSTDR was funded by US Government contracts before a strategic shift to product commercialization. Today, LiveWire works with OEMs, end-equipment manufacturers and operators in North America, Europe and Asia to integrate its live monitoring capabilities into end-systems, along with selling handheld and housed products for use in field testing and installable deployments. SSTDR has broad applications in safety, security, reliability and data collection.