We have three businesses here. One is our goose pumps business, which is a centrifugal pump. It is a pump that is used in a lot of industrial processes. The second one, is a twin scoop pump, it is another type of pumping technology that is used in oil and gas, in food, and pharmaceutical industries. Our third business is our valves business.
This year we are presenting what we call, monitoring solutions. If a pump runs into problems, and if you don't monitor it, it will spoil. It will break down. We have a Pump Smart that can actually control this. If the water is not flowing, if a fluid is not flowing, the Pump Smart recognizes it then immediately acts to rectify the issue. That keeps your pump from burning.
If you are a big manufacturer and you already have your own monitoring systems, would you be able to read information from your software into re-existing systems or are your products stand-alone?
Right now, it is a stand-alone but we are working with some of our customers who are trying to get it imported into their system.
However, companies have a refinery and have big systems that monitor some of the key equipment that they say must not fail. Small things like fan or some pumps, they may not think they are important enough, so they do not monitor them. But, when they break down the whole process can come to a halt. Because ours system is self-standing, and because it's also very cost efficient, people can just buy it and install it. Some customers are telling us they do not want have two systems, they want it to be merged so we are working with them to achieve this.
Can you tell me a little more about the PumpSmart?
We launched Pump Smart and the app in 2015. This year we have been continuously improving the firmware to make sure that you get more information coming up from the system itself.