|Houston, TX, USA – May XX, 2014 – AcousticEye Ltd., a leading supplier of non-traversing tube and pipe inspection for the global NDT (non-destructive testing) market, today announced that it is the recipient of Frost & Sullivan’s 2014 New Product Innovation Leadership of the Year Award for non-destructive testing equipment.
The selection of AcousticEye’s new DUET™ inspection system, with dual mode pulse reflectometry technology, for this award is the result of in-depth interviews and detailed market analysis conducted by Frost & Sullivan’s expert NDT industry analyst team.
“Our independent analysis of the non-destructive testing equipment market clearly shows that by integrating two cutting-edge technologies to provide a product that not only demonstrates a phenomenal speed of operation, but also redefines the heat exchanger tube inspection paradigm, AcousticEye has truly given end users an innovative edge,” said Nikhil Jain, senior research analyst for Frost & Sullivan. “The company proved its innovative credentials through its earlier product, but with the DUET, AcousticEye took innovation to a new level.”
According to Frost & Sullivan’s research, the biggest differentiator for AcousticEye and DUET is the level of cost-savings that the customer can achieve for the heat exchanger tube inspection application. Because DUET can perform four to five times faster than any other product in the market, the customer can finish the inspection faster. As a result, the customer can achieve cost-savings since the cost of inspection is directly proportional to the time taken for inspection. Additionally, DUET can be operated by a single operator, whereas competing products and technologies may, at times, require more than one operator. Lastly, because of the non-traversing nature of the product, there are less chances of probe damage, resulting in cost-savings on the consumables as well. These cost-savings directly translate into a better return on investment for the customer.
Mr. Yoav Harel, CEO of AcousticEye, said: “We are honored to receive this prestigious award from such a well-regarded company as Frost & Sullivan. Following a very professional research and analysis process, their choice of AcousticEye is an important validation of our value proposition for the global NDT industry. As a technology company that is offering a highly disruptive solution for overcoming the limitations of existing techniques, we look forward to breaking new ground by delivering greater efficiency than ever before possible in tube and pipe inspection.”
To download Frost & Sullivan’s full, detailed report, please click here.
For the New Product Innovation Leadership Award, the following criteria were used to benchmark AcousticEye’s performance against key competitors: innovative element of the product, leverage of leading-edge technologies in product, value-added features/benefits, increased customer ROI, and customer acquisition/penetration potential.
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AcousticEye Ltd. is a pioneer in non-traversing tube and pipe inspection for the global non-destructive testing (NDT) industry. Based on patented dual mode pulse reflectometry technology (acoustic and ultrasonic operating in parallel), the new DUET™ system is a breakthrough in accurate testing at a fraction of typical inspection cycle times and with 50% less manpower. With billions of tubes and pipes being inspected and maintained annually, AcousticEye is targeting NDT applications in oil and gas, power generation, petrochemical and other adjacent markets, including chemical, pulp and paper, food and beverage, and HVAC. The Company’s innovative technology solutions are utilized by inspection service providers and end users worldwide. www.acousticeye.com