Vortex Pipes has signed a landmark Technology Non-Disclosure Agreement (NDA) with US engineering group, The Kelly Group, relating to its ShieldLiner technology, which can rehabilitate pipes without the need to excavate them which saves money on manpower and equipment, time (crucial for the oil & gas industry), and the environment.
The Kelley Group has agreed that it will not work with other competing pipeline technology companies for the duration of the two year contract.
Vortex is targeting the oil & gas and water industries in the US, where the Obama administration has announced it will be focusing on repairing the country’s worn out pipelines.
Mr Brett Matich, Director of Vortex Pipes, commented:
“The signing of an NDA with such a reputable party is a milestone event for our company.
“It further validates the high quality of our unique, cutting-edge trenchless pipeline rehabilitation technology and the significant commercial potential it holds in the water, oil and gas industries in the US, and around the world.
“Our strategy for commercial roll-out is to penetrate key target markets via strategic distribution partners who are well-established in the region. In terms of roll-out of the ShieldLiner technology into the US market, this Agreement with The Kelley Group is a significant step forward.”
The Kelley Group is a US-based party focused on investing strategically in businesses with leading-edge technology and systems, then accelerating them through to product commercialisation through strategic partnership or merger/acquisition opportunities. The Group is led by senior business professionals, Kenneth Kelley, Randy Mueller and Edward Martin, who combined, have extensive experience and expertise in finance and corporate transactions for Fortune 500 to Fortune 5000 companies. The Group works with a number of blue chip clients, located in Seattle and around the US.
The Kelley Group has undertaken an initial review of Vortex’s ShieldLiner technology with positive feedback – indicating that they believe there are significant and material opportunities for deployment of the ShieldLiner technology into the US market.