Houston, TX, USA – May 08, 2014 – AcousticEye Ltd., a leading supplier of non-traversing tube and pipe inspection for the global NDT (non-destructive testing) market, today announced that it is the recipient of Frost & Sullivan’s 2014 New Product Innovation Leadership of the Year Award for non-destructive testing equipment.
selection of AcousticEye’s new DUETÔ inspection system,
with dual mode pulse reflectometry technology, for this award is the result of
in-depth interviews and detailed market analysis conducted by Frost &
Sullivan’s expert NDT industry analyst team.
"Our independent analysis of the non-destructive testing
equipment market clearly shows that by integrating two cutting-edge
technologies to provide a product that not only demonstrates a phenomenal speed
of operation, but also redefines the heat exchanger tube inspection paradigm,
AcousticEye has truly given end users an innovative edge," said Nikhil Jain, senior
research analyst for Frost & Sullivan. "The company proved its innovative
credentials through its earlier product, but with the DUETÔ, AcousticEye took innovation to a new level."
According to Frost & Sullivan’s research, the
biggest differentiator for AcousticEye and DUETÔ is the level of cost-savings that the customer can achieve for the heat
exchanger tube inspection application. Because DUETÔ can perform four to five times faster than any other
product in the market, the customer can finish the inspection faster. As a
result, the customer can achieve cost-savings since the cost of inspection is
directly proportional to the time taken for inspection. Additionally, DUETÔ can be operated by a single operator, whereas
competing products and technologies may, at times, require more than one
operator. Lastly, because of the non-traversing nature of the product, there
are less chances of probe damage, resulting in cost-savings on the consumables
as well. These cost-savings directly translate into a better return on
investment for the customer.
Yoav Harel, CEO of AcousticEye, said: "We are honored to receive this
prestigious award from such a well-regarded company as Frost & Sullivan.
Following a very professional research and analysis process, their choice of
AcousticEye is an important validation of our value proposition for the global NDT
industry. As a technology company that is offering a highly disruptive solution
for overcoming the limitations of existing techniques, we look forward to breaking
new ground by delivering greater efficiency than ever before possible in tube
and pipe inspection."
To download Frost
& Sullivan’s full, detailed report, please click here.
For the New Product Innovation Leadership Award, the following criteria
were used to benchmark AcousticEye’s performance against key competitors:
innovative element of the product, leverage of leading-edge technologies in
product, value-added features/benefits, increased customer ROI, and customer
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AcousticEye Ltd. is a
pioneer in non-traversing tube and pipe inspection for the global
non-destructive testing (NDT) industry. Based
dual mode pulse reflectometry technology (acoustic and ultrasonic operating in
parallel), the new DUET™ system
is a breakthrough in accurate testing at a
fraction of typical inspection cycle times and with 50% less manpower. With
billions of tubes and pipes being inspected and maintained annually, AcousticEye is targeting NDT applications in oil
and gas, power generation, petrochemical and other adjacent markets, including
chemical, pulp and paper, food and beverage, and HVAC. The Company’s innovative
technology solutions are utilized by inspection service providers and end users