Israel Natural Gas Lines to Invest in Startup Prisma Photonics
Tel Aviv, Israel (ots/PRNewswire)
Prisma Photonics and Israel Natural Gas Lines (INGL) have recently signed an investment agreement for pipeline monitoring system in Israel; Dr. Eran Inbar: "We have revolutionized the real-time monitoring of critical infrastructure"; Shmuel Turgeman, INGL CEO: "The investment in Prisma Photonics is part of the commitment by INGL to promote the safety and monitoring of pipeline assets"
Israel Natural Gas Lines announces a strategic investment in Prisma Photonics, which develops an advanced system for monitoring critical infrastructure in real time. The investment agreement comes one year following an agreement between the companies pursuant to which Prisma Photonics will implement its PrismaFlow™ system for continuous monitoring on gas pipeline segments in Israel.
Israeli startup Prisma Photonics has developed a unique solution for monitoring critical infrastructure. Its PrismaFlow™ system is an advanced fiber-optic-based sensory system capable of identifying leaks, alerting on damaged pipes, and identifying any excavation in its proximity. The system relies on optical infrastructure installed adjacent to the line, which transforms the optical fibers into an ultra-sensitive series of sensors capable of detecting minor leaks and alerting their exact location in real time.
Shmuel Turgeman, CEO of Israel Natural Gas Lines, says the "investment in Prisma Photonics is part of the commitment of INGL to promote safety and monitoring of our gas pipeline infrastructure. Within this framework, we constantly take steps to promoting and implementing innovative and advanced technologies which allow us to address the complex challenges in the field. In Prisma Photonics we found real partners for promoting security of critical infrastructure and a concern for safety of the national supply system."
Dr. Eran Inbar, CEO of Prisma Photonics, says "the investment INGL is making in our company now, and those made before it by Israel Electric Company, represent a real vote of confidence in our solution. It's not every day that two state-owned companies invest in the same company. There are tens of thousands of kilometers of critical infrastructure in Israel, from natural gas, electricity, water and all the way to communication infrastructure. Securing such infrastructure is a strategic endeavor for any country, and allows to quickly detecting damages and malfunctions in the infrastructure, even before they occur. We have revolutionized real-time monitoring of critical infrastructure, and this investment is an additional evidence for it."
Prisma Photonics solution is based on groundbreaking technology protected by a number of patents and which has won a number of international technology competitions, and has been installed by utilities all over the world.
About Prisma Photonics
Prisma Photonics assists critical infrastructure operators in maintaining routine operations. The Company provides a groundbreaking solution for monitoring of long-range infrastructure, and introduces a new ability for smart, safe and efficient operation which paves the way for smart digital infrastructure. We are reinforcing our customers and aiding them in gaining the best insight for making real-time operational decisions.
The Hyper-Scan Fiber-Sensing technology is well suited for the monitoring of infrastructure spanning large distances. The system addresses a large number of operation, safety, security and preventive maintenance scenarios. The company was founded in 2017 by entrepreneurs specializing in laser, fiberoptics, and machine learning.
About INGL
Israel Natural Gas Lines LTD is a state-owned corporation established in 2003 for the purpose of developing and operating the national natural gas pipelinegrid. INGL builds and operates the grid in accordance with extremely stringent international standards. To date, INGL has laid down a total of approximately 850 km of piping throughout Israel. Today, 70% of the electricity in Israel is produced using natural gas convayed by INGL. The company is routinely ranked as a market leader by credit rating firms Moody's and S&P.
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Contact:
Eitan Elkin,
eitan.elkin@prismaphotonics.com,
+972525522892