The current process for chemical analysis requires collecting a sample at the refinery, factory, or well-head, and shipping the sample to a laboratory, a process that takes days to weeks. Our customers are seeking rapid, on-site testing methods that eliminate this time-consuming process. With OndaVia's products, we enable on-site testing, with results in under five minutes that allow our customers to improve their processes, increase their yields, operate more safely, and avoid unnecessary delays.
We have a smart, experienced team with a powerful technology that addresses a deep need in a $160 billion market. Our core technologies are backed by twelve issued US patents and seven pending patent applications in the fields of microfluidics, nanotechnology, and spectroscopy. Our products allow our customers to do water and chemical analysis with a portable instrument and a single-use, consumable cartridge. We are developing new instruments for continuous in-line analysis and ultra-portable, low-cost testing.
We are already working with the largest companies in the oil & gas services sector, and expanding our testing methods into various environmental remediation applications. These customers have helped us design and optimize our products to meet their needs, while providing the samples and data needed to prove our technology. We are well-positioned to achieve cash-flow breakeven in early 2018 through sales in the oil & gas sector.
First instrument rental revenue to a customer in the oil & gas services sector.May, 2013
A key oil & gas services firm performed successful in-laboratory testing of our system.September, 2013
The OndaVia team did perchlorate testing on-site at a customer treatment facility, obtaining results equivalent to the laboratory methods.April, 2014
The OndaVia team performed blind-testing of sour water samples provided by two customers, obtaining results in agreement with the lab.April, 2014
OndaVia acquired a competitor portfolio and had a patent issue on 4/22. We now have four issued and TEN pending US applications!April, 2014
A key customer rented a system for measuring monoethanolamine in refinery sour water.March, 2014
Customers are converting from system rentals to system purchases, as evidenced by recent purchase orders.June, 2014
Did $140K in revenue for second half of 2014: five instruments and 800+ cartridges.December, 2014
Booked orders on two systems and 390 cartridges in January.January, 2015
Notice of allowance on our seventh US Patent.February, 2015
1H 2015: 850 cartridges soldJune, 2015
11th issued US PatentSeptember, 2015
2H 2015: 1110 cartridges soldDecember, 2015
1H 2016: 1150 cartridges soldJune, 2016
Signed joint development and licensing agreement with leading food safety companyDecember, 2016
2H 2016: 1480 cartridges soldDecember, 2016
1H 2017: 1630 cartridges soldJune, 2017