SRJ Technologies Group PLC (ASX:SRJ) is looking to combine its technical capabilities with Cokebusters Limited after signing a strategic alliance agreement (SAA) that will see the companies develop and utilise asset integrity solutions for pipeline and pipework systems that currently can’t be inspected effectively.
Cokebusters specialises in mechanical cleaning and intelligent pigging of piping systems for inventory located worldwide.
Its technology utilises a range of patented mechanical and intelligent pigs coupled with purpose-built pumping units for the internal cleaning and inspection of piping systems associated with furnaces/boilers, heat exchanger systems and other arduous processes.
“An ever-increasing number of our customers are facing asset integrity challenges due to ageing pipeline/pipework infrastructure and the need to inspect and monitor the condition of previously ‘uninspectable’ and inaccessible systems,” SRJ managing director Europe and Middle East Roger Smith said.
“By combining SRJ’s asset integrity know-how and Cokebusters’ unique pipeline pigging systems, we aim to fill this gap and provide a monitoring and risk management capability previously unavailable to facility operators.”
Monetising combined expertise
Discussions between SRJ and Cokebusters identified specific risk scenarios that facility operators are unable to accurately assess and manage.
These scenarios focus on piping and pipeline systems handling hazardous fluids.
By working together to combine SRJ asset integrity expertise with Cokebusters’ capability to access the internal surfaces of process piping systems, the companies believe they can design solutions and services monetise their combined expertise and fill a much-needed gap in inspection and integrity risk solutions that are not yet available in the market.
The gap is due to the difficulties associated with pipeline internal access, current pigging technology and data capture/analysis, solutions.
In many instances, such pipeline/pipework systems are operating beyond their original design life with a high risk of loss of containment. This presents a severe risk of environmental pollution due to hazardous liquid release as well as fugitive gas emissions.
There is a ‘first mover’ advantage in assessing and mitigating these risks, which SRJ and Cokebusters aim to capture.
Increasing demand for these niche services could also command high margins and generate material revenue streams.
SRJ has engaged with and received initial enquiries from several high-profile operators seeking technology to assess and manage what are now considered to be significant environmental risks.
For Cokebusters, the SAA is a natural progression of its technology’s capabilities.
“Our intelligent pig technology has continuously evolved against a backdrop of navigating and inspecting complex geometry piping systems, such that a transition of these techniques and technologies to help de-risk unpiggable pipelines is a natural progression,” CokeBusters managing director James Phipps said.
“In conjunction with SRJ’s wealth of practical asset integrity knowledge, assurance heritage and technologies for leak reduction, I believe we will be able to offer our mutual customers something much more wholesome, unique and powerful.”