Melbourne (VIC), Australia – Ava Group, a risk management services and technology company, has announced the signing of a development and commercialisation agreement with Mining3, a mining technology group. The contract will facilitate the launch of an innovative predictive asset monitoring solution from Future Fibre Technologies (FFT), an Ava Group company, set to revolutionise the monitoring of conveyors used in mining and other industries.
The new partnership will strengthen the recently announced strategic alliance with Mining3. Under the agreement, FFT will use its Aura advanced fibre optic sensing platform, combined with Mining3’s signal processing algorithms, to bring to market a brand new FFT solution – Aura IQ. According to AVA Group “this automated system will provide the global mining industry with the world’s most advanced solution in wear detection of conveyor rollers with the ability to pre-empt failure, generating significant time and cost savings.”
Managing conveyor maintenance is a significant daily problem for the mining, cement, pulp, paper and agriculture sectors. Conventional methods of detecting failure in conveyor rollers are unreliable, hazardous, time-consuming and labour intensive.
Prof Paul Lever, CEO of Mining3 said, “Our focus remains on accelerating the research and development process to deliver breakthrough technology for our members and the global mining industry. The new development and commercialisation partnership with the Ava Group facilitates this outcome and ensures the industry benefit from much-needed advancements in technology.”
Ava Group’s Head of Extractives and Energy, Andrew Hames added, “Mining companies are striving to realise the full benefits of evolving digital capabilities to enhance improvements in productivity; including looking at ways of using data more effectively to improve asset management, reliability and introduce predictive capability.
“This partnership is a result of our focus towards providing innovative solutions to clients in key strategic sectors. The opportunity for Ava Group and Future Fibre Technologies is transformational for the industry and adjacent markets as we further leverage the technologies’ applications.”
“This game-changing predictive asset monitoring solution is expected to launch in Q2 FY2019 and provides a first mover advantage for Ava Group, in a potential total addressable market of up to $300 million.”