GRENOBLE, France, March 4, 2014 (GLOBE NEWSWIRE) -- RYB, a leading French provider of pipeline network solutions, announces the creation of ELIOT Innovative Solutions at the CGA 811 Excavation Safety Conference & Expo, to be held in Phoenix, Arizona (USA) on March 11-13. A spin-off of the RYB Group, this new company is being opened to handle the commercialization of ELIOT products (Equipment for Locating and Identifying Underground Works) in France and internationally. The first phases of this development involve opening a subsidiary in North America and concluding a round of capital investment now in progress.
The result of close collaboration between RYB and CEA-Leti in Grenoble, France, ELIOT technology was launched in 2013 following five years of research and development. By implementing a unique type of RFID technology, ELIOT makes it possible to detect underground pipelines as deep as 1.5 meters quickly and easily, with precision nearing one centimeter, while providing a variety of traceability information without having to excavate.
The new company, ELIOT Innovative Solutions, commercializes ELIOT tags, readers, and dedicated software solutions. With international objectives, the innovative startup launches with the benefit of being able to use proven technology that has already been deployed at several sites in France, Canada, and Europe.
"Detection, location, and identification of underground networks are a key issue for cities and communities in terms of safety and cost. This is a global need, which means the market is worldwide. Creating ELIOT Innovative Systems is part of a global strategy to accelerate sales of the technology internationally. As part of this development, we are currently establishing industry and distribution partnerships to accompany us in these new regions," says Marc-Antoine Blin, CEO of RYB Group.
Ambitious growth objectives for France and international markets, with investment on the way
ELIOT Innovative Solutions forecasts revenue of two million euros for its first fiscal year. The company now has eight employees and plans to hire four engineers and sales representatives in France in 2014.
As part of its international development strategy, ELIOT Innovative Solutions has recently opened an office in Montreal, Canada, to serve North America. The company plans to open additional subsidiaries internationally in the short term.
A round of capital investment is currently in progress to raise funds that will help ELIOT Innovative Solutions accelerate technology development and commercialization in France and internationally.
Founded in 2014, ELIOT Innovative Systems commercializes ELIOT products (Equipment for Locating and Identifying Underground Works) in France and internationally. The innovative ELIOT technology, developed by the RYB Group in collaboration with CEA-Leti in Grenoble, France, has received several awards.
By using a unique type of RFID technology, ELIOT detects underground pipelines as deep as 1.5 meters quickly, easily, and accurately. The technology is adapted to both new and existing networks. With precision that is far higher than other detection systems (magnetic, ultrasonic...), ELIOT helps ensure safety for all types of professional public works and operator sites.
ELIOT Innovative Solutions currently has a staff of eight employees and forecasts revenue of two million euros in France and internationally for its first fiscal year.
Founded in 1962, RYB has become a leading provider of polyethylene pipeline systems and is now an industry reference for gas, water, and electricity transport and telecommunications.
With three production sites in France (in the Isère and Loiret departments), the RYB Group employs over 160 people and generates annual revenue of nearly 65 million euros, a significant part of which is for exports.
Certified ISO 9001 and implementing a strong quality and environmental policy, RYB manufactures over 50,000 kms of pipelines and tubing in France each year.
An SME that has received several awards for its innovation efforts, RYB is today organized into five main divisions:
- Public works and networks (RYB)
- Industry (RYB INDUSTRIE)
- Drainage geocomposites (RYB COMPOSITES)
- Building and renewable energy (RYB TERRA)
- Irrigation (KULKER)
Press release (PDF): http://hugin.info/160369/R/1766257/599661.pdf
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Source: ELIOT Innovative Solutions