 |
 |
 |
Acoustic Start-upHistory A client came to FL&A with a new acoustic technology that would measure the volume of liquids in an enclosed tank much more precisely than techniques that were in use in the industry. Our client was a small research firm that was funded by a larger company and was charged with utilizing state-of-the-art acoustics technology to develop new products for the parent company. As part of its product development efforts, the client had identified a set of EPA regulations that had come into enforcement the previous year that required the monitoring of leakage from underground petroleum and chemical storage tanks. Because of the number of underground storage tanks in place (~2M) our client viewed this application as its target market and asked our firm to define this market opportunity in more detail. Validating the Client Application Target In working with this client to apply our NuTech ScreenTM process to this new acoustics technology, we developed the screening profile outlined below. Functional Fit Screen:
Economics Screen:
Time Screen:
Outcome NuTech Screen Analysis Our investigation of the application of this acoustic liquid level measuring device in the monitoring of liquid leakage from underground storage tanks revealed the following:
Refocusing the Client's Effort Based on this analysis, we concluded that the underground storage tank market was not a market opportunity for our client. We then used this screening process to investigate other applications for our client's technology in process industries that regularly deal with measuring liquid volumes in enclosed tanks-foods, chemicals, mining, rubber, and beverages. None of these industries passed through the NuTech ScreenTM process outlined above, but one interviewee suggested that liquid levels could not be measured adequately with existing level measurement devices in processes that create a substantial amount of foam above the liquid in enclosed tanks. We pursued this application in processes such as the production of concentrated orange juice and decaffeinated coffee in which a vacuum process is used to remove water from the liquid. Our interviews confirmed that there was a significant need for accurate liquid level measurement in these processes, and several major companies in these applications expressed an interest in possibly helping our client develop such a measuring device. Our client had not considered this application, but subsequent laboratory tests demonstrated that the client's technology worked well in this liquid/foam environment. We put our client in contact with these end users to discuss how they might work together to co-fund the development of turning the technology into a measuring device for these liquid/foam applications. |
| |||||||||||||||||||||||
| |||||||||||||||||||||||
 | |||||||||||||||||||||||
|
| Copyright 2010 Frank Lynn & Associates, Inc. All Rights Reserved. | Privacy Policy | Terms of Use | 1.800.245.LYNN | Site Map | Contact Us |