Bristol Uni spin-off wins IMechE investment for corrosion sensor
23 Aug 2017
The Institution of Mechanical Engineers (IMechE) has invested money through its Stephenson Fund in Bristol University spin-off Inductosense’s pioneering ultrasonic sensor WAND.
WAND – Wireless And Non Destructive system – measures cracks and corrosion. It operates by bringing a measurement probe near to a compact, battery-free sensor installed on a structure.
The sensors are passive and wireless and can be permanently attached to structures, even those beneath a layer of material or coating.
Stephen Tetlow, IMechE chief executive, said the technology had the potential to cut maintenance and downtime costs of wind turbines, nuclear power plants and other large infrastructure.
“It is exciting that we can support cutting-edge technologies, like those being developed by Inductosense that are, in George Stephenson’s words, ‘likely to be useful to the world’,” he stated.
The investment was made through the Stephenson Fund, launched in 2015 to help companies bring research products to market.
It is exciting we can support cutting-edge technologies that are, in George Stephenson’s words, ‘likely to be useful to the world’
Stephen Tetlow, chief executive, IMechE
Added Tetlow: “The Institution wants to help companies overcome the hurdle between Research and Development and bringing a product to market, and apart from the monetary investment, this will also connect Inductosense to the vast resources and network of the Institution and its membership.”
IME’s funding for Inductosense is part of a round of £1.1m investment from a consortium of investors, that includes Perivoli Innovations, IP Group, the University of Bristol Enterprise Fund and several angel investors.
Welcoming the award, Dr Matt Butcher, CEO at Inductosense, said: “Over the past year we have had great success in development of the technology and commercial traction. With the investment we want to accelerate our pace and progress from trials to commercial deployment of sensors.”
