Buddy Powers
Technology innovations and advancements are essential to acquiring and maintaining relevancy in the market. It’s also an antidote to the commoditization curve, which can quickly incapacitate companies by slashing margins and pressuring cost structures. To successfully develop and commercialize the technology that can ensure a company’s survival, the right competencies and expertise are vital. The path from concept to commercialized product is filled with complicated challenges, but certain steps can be taken to mitigate the pain of the transition from development to commercialization.
Quantifying Progress: Technology Readiness Levels
Technology Readiness Levels (or TRLs) were initially developed by NASA to measure the maturity of technology as it was being researched, developed, validated, and launched. It can be particularly challenging for many companies to progress between the three phases – research, development, and deployment. A lack of investment in each can stall the progress of a potentially viable and beneficial technology from entering the industry.
The pipeline industry is a particular challenge given its harsh field and operational conditions. In fact, less than 50% of the technologies introduced in the industry actually survive. Field validation is one of the main reasons for this high failure rate due to the repeatability of lab results.
Mapping a Route to Commercialization
Most important to progressing through the phases of the TRLs, especially in the development phase, is testing and validation. Ultimately, customers want to verify the validity of the technology with a system of identifiable checks and balances, which comes with testing and validation. If testing is done with a third party, customers also benefit from an outsider’s perspective that lends oversight and security.
Despite the odds, companies in the pipeline industry are continuing to invest in technology that improves safety and minimizes risk in operations. However, the necessary testing and validation must be accomplished to not only define the limitations of the technology but also lend peace of mind to their investment.
Benefits of ADV Integrity’s Path to Commercialization
As a third-party testing and engineering consulting firm, ADV Integrity provides the outsider’s perceptive that investors value but the technical expertise and experience that technology providers require. Companies can validate their technology with ADV Integrity and take advantage of a team of energy and engineering experts as well as a library of testing resources and experience. ADV Integrity’s facility includes a stock of pipe for nondestructive testing, full-scale testing equipment, and the ability to simulate loading and temperature fluctuations.
ADV Integrity’s uses a surgical approach to simulating “real world” field/operational environments, unique from other testing facilities. ADV Integrity helps refine the technologies and if necessary, facilitates Joint Industry Programs (JIPs) to distribute investment, increase industry buy-in and spearhead research.
In addition, partners of ADV Integrity can use resources provided by its sister companies, IDT EXPO and ADV Marketing. IDT EXPO brings together technology providers and operators from the industry to encourage conversations that eventually lead to innovation and progress in the industry. ADV Marketing supplies comprehensive, full-service marketing consulting for technologies ready to launch into the market with effective strategies to target potential buyers.
Originally published on September 22, 2022