New technology improving coal mining efficiency highlighted in the 2012 Brisbane Innovation Scorecard
Mining service provider Industrea Limited was one of 18 businesses highlighted in this year’s Brisbane Innovation Scorecard, launched by Lord Mayor Graham Quirk earlier this month.
The third annual Scorecard showed nearly two-thirds (62%) of Brisbane businesses surveyed have made at least one significant innovation in the past three years, and of those businesses, three-quarters (78%) are pioneering ideas entirely new to their industry.
The Scorecard, which surveyed 301 firms in Greater Brisbane and is the only city-based annual innovation benchmarking project in the world, highlighted 18 stand-out businesses including Industrea.
Industrea’s radical directional drilling technology for methane gas drainage dominates the Australian market and is penetrating key international markets, while generating annual revenues of up to $50 million and delivering increased productivity and safety levels in underground coal mining.
Conceptualised and developed by Industrea, the Drill Guidance System (DGS) includes intuitive survey software that allows mine operators and geologists to find and quickly drain methane gas from the coal seam.
Industrea Managing Director and CEO, Robin Levison said the original technology was developed in 1998, with the latest and most sophisticated version released in 2009.
“Industrea’s methane gas technology was a disruptive technology, it changed the way the Australian coal mining industry drained gas and brought incredible productivity and safety gains because methane gas could be drained in a quicker and more direct fashion,” said Mr Levison.
In the past five years, Industrea has gained a dominant market position with the technology in the Australian market, and has penetrated Chinese, Russian and North American markets.
Annual revenue from the product has also grown from about $5 million in 2006 to $50 million in 2011.
The technology is one of several IPrich mining products designed and manufactured by Industrea in Australia, leading the field globally in competition against large international companies like Caterpillar and Joy Global.
Headquartered in Brisbane, Industrea provides a range of highly specialised mining products and services.
General Electric Co. is in the process of acquiring the company for AU$700 million.
To download your copy of the 2012 Brisbane Innovation Scorecard and read about this year’s featured businesses, visit www.enablebrisbane.com.au
For more information about Industrea, visit www.industrea.com.au
Photo courtesy of New Hope Group