Summary
The bridge collapse in Genoa (2018) caused 43 deaths, left 600 without home, and cost €200 million to the EU. This is one of many examples of catasrophic events that cause fatalities, financial and environmental damages due to aging infrastructures and insufficient Structural Healt Monitoring (SHM) solutions. Thus, authorities, owners and maintenance managers of large infrastructures have voiced an urgent need for efficient, reliable, cost-effective and autonomous monitoring solutions that would be able to prevent unwanted catastrophes. This demand is boosting the growth of the SHM market – the predicted market size value is €3,9 billion by 2025, which is 3,6 times bigger than in year 2019 (€1,1 billion).
We, at Securaxis, are developing a break-through technology combining predictive real-time acoustic monitoring sensor with our advanced Artificial Intelligence (AI) technology into the Real Time Event Detector RTExD. Since it is acosutic RTExD can detect infrastructure failures even before they are manifested in the external structure. Learning from them the AI layer will be able to predict when this errors willl be produce giving infrastructure mangers enough time to correct potential future failures.
We target various stakeholders along the value chain of the civil infrastructures construction industry. We address customers in the public and the private domain and they range from infrastructure owners, and engineering companies to governmental authorities. Cost-effectiveness will be the main purchasing driver for our customers – installing RTExD on a wind turbine (3MW) would save up to €6,7million instead of replacing the structure.
Through the complection of the project we expect to reach €40 million cumulative revenues and €28 million cumulative profit in the first 5 years of commersialization. Considering a €2.1 million investment during Phase 2, we estimate a return of investment of 11,9% in 2026.
We, at Securaxis, are developing a break-through technology combining predictive real-time acoustic monitoring sensor with our advanced Artificial Intelligence (AI) technology into the Real Time Event Detector RTExD. Since it is acosutic RTExD can detect infrastructure failures even before they are manifested in the external structure. Learning from them the AI layer will be able to predict when this errors willl be produce giving infrastructure mangers enough time to correct potential future failures.
We target various stakeholders along the value chain of the civil infrastructures construction industry. We address customers in the public and the private domain and they range from infrastructure owners, and engineering companies to governmental authorities. Cost-effectiveness will be the main purchasing driver for our customers – installing RTExD on a wind turbine (3MW) would save up to €6,7million instead of replacing the structure.
Through the complection of the project we expect to reach €40 million cumulative revenues and €28 million cumulative profit in the first 5 years of commersialization. Considering a €2.1 million investment during Phase 2, we estimate a return of investment of 11,9% in 2026.
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More information & hyperlinks
| Web resources: | https://cordis.europa.eu/project/id/877102 |
| Start date: | 01-08-2019 |
| End date: | 30-11-2019 |
| Total budget - Public funding: | 71 429,00 Euro - 50 000,00 Euro |
Cordis data
Original description
The bridge collapse in Genoa (2018) caused 43 deaths, left 600 without home, and cost €200 million to the EU. This is one of many examples of catasrophic events that cause fatalities, financial and environmental damages due to aging infrastructures and insufficient Structural Healt Monitoring (SHM) solutions. Thus, authorities, owners and maintenance managers of large infrastructures have voiced an urgent need for efficient, reliable, cost-effective and autonomous monitoring solutions that would be able to prevent unwanted catastrophes. This demand is boosting the growth of the SHM market – the predicted market size value is €3,9 billion by 2025, which is 3,6 times bigger than in year 2019 (€1,1 billion).We, at Securaxis, are developing a break-through technology combining predictive real-time acoustic monitoring sensor with our advanced Artificial Intelligence (AI) technology into the Real Time Event Detector RTExD. Since it is acosutic RTExD can detect infrastructure failures even before they are manifested in the external structure. Learning from them the AI layer will be able to predict when this errors willl be produce giving infrastructure mangers enough time to correct potential future failures.
We target various stakeholders along the value chain of the civil infrastructures construction industry. We address customers in the public and the private domain and they range from infrastructure owners, and engineering companies to governmental authorities. Cost-effectiveness will be the main purchasing driver for our customers – installing RTExD on a wind turbine (3MW) would save up to €6,7million instead of replacing the structure.
Through the complection of the project we expect to reach €40 million cumulative revenues and €28 million cumulative profit in the first 5 years of commersialization. Considering a €2.1 million investment during Phase 2, we estimate a return of investment of 11,9% in 2026.
Status
CLOSEDCall topic
EIC-SMEInst-2018-2020Update Date
27-10-2022
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