Synodon signs Mulit-Year, Triannual Contract
Synodon Signs Multi-Year, Triannual Contract With Oil Pipeline Operator
EDMONTON, ALBERTA--(Marketwired - April 30, 2015) - Synodon Inc. ("Synodon") (TSX VENTURE:SYD) announces that it has signed a 3-Year contract with an existing customer for realSens™ integrity services covering the customer's oil pipeline infrastructure as well as their smaller natural gas network. The new contract expands the frequency of surveys from one to three times per year and is testament to the market's adoption of Synodon's oil leak detection offering in addition to the well-established gas leak detection capabilities of its realSens™ instrument.
"This agreement is the culmination of a two year process, which included two full pipeline network surveys, a live demonstration of the realSens™ technology's ability to detect small leaks of the customer's crude oil product (announced in a press release on May 8, 2014) and the publication of the results in a joint paper presented with the same customer at the International Pipeline Conference in October 2014," stated Synodon's President, Mr. Adrian Banica.
The value of the contract over the 3-Year term could exceed $750,000 depending on the number of additional realSens™ services required in addition to oil leak detection.
Synodon Inc. (www.synodon.com) is a technology company that has developed an advanced airborne remote gas sensing system called realSens™, based on technologies developed under the Canadian Space Program and by Synodon scientists. The company currently provides advanced airborne pipeline integrity management services to the oil and gas sector through a suite of services including natural gas and liquid hydrocarbon leak detection, pipeline threat assessments, and waterway crossings analysis among others.