“Pipers provide the oil and gas industry invaluable insights in their pipeline assets leading to increased performance and safety while reducing costs. We’re excited to support INGU in scaling the business globally,” said George Coyle, Managing Partner at Energy Innovation Capital. Ben Abadi, a Managing Director at Energy Innovation Capital, joined the INGU board of directors in connection with the transaction.
Launched in 2018, INGU’s Pipers technology is a pipeline screening tool that detects leaks, geometric defects, magnetic anomalies, and deposits. The unique self-service business model reduces inspection costs while strengthening preventive maintenance. INGU enables integrity assessment in unpiggable pipelines, while disrupting alternatives costing an order of magnitude more in other pipelines.
“We went from trials to commercial release in 18 months, and not even two years later, we have screened well over 100 operational pipelines for more than 30 operators. Our clients are excited and are already starting to integrate Pipers into their integrity programs,” said John van Pol, CEO of INGU. “We’re fortunate that our investors share our vision for the future, bringing with them a strategic network and industry expertise to help us deliver results and scale fast enough to meet market demand.”