CALGARY and ASSEMINI (CAGLIARI), Italy, Jan. 29, 2020 /CNW/ - Nanalysis Scientific Corp. ("Nanalysis", TSXV: NSCI) and SARAS Ricerche e Tecnologie S.r.l. ("SARTEC") are pleased to announce that as of January 27, they have entered into a collaboration agreement to jointly develop process analytical solutions for the oil & gas industry, including the analysis of crude oil for the oil refineries.
The collaborative scientific work has been ongoing since 2017, a quality prototype solution has been developed, and the two companies are now ready to develop a business plan and jointly offer solutions incorporating Nanalysis global leading compact NMR products and SARTEC's patent protected machine learning algorithms and Artificial Intelligence (AI) software.
Dr. Lorenzo Sassu, Innovation & Digital solutions Manager of SARTEC stated "We are very pleased to be working with Nanalysis Scientific. For decades SARTEC has been specializing in environmental protection, industrial efficiency and energy savings in the oil, petrochemical, and energy industries, as well as serving our local communities and public administration partners.
Several years ago, we recognized that NMR could be a critical analytical technique to bring oil refineries into the digital age, but the problem was that this type of technology was too large, expensive, and complex for oil refineries and energy facilities of all kinds. With the advent of compact NMR hardware, our machine learning and AI algorithms can come to life in a variety of applications, and we are committed to delivering fully integrated solutions to the energy industry in partnership with Nanalysis."
Sean Krakiwsky, founder and CEO of Nanalysis Scientific added, "Working with an experienced global leader such as SARTEC is critical to driving adoption of our products in the energy industry and other industrial process markets. This partnership is consistent with one of our key strategic business objectives, the "appification" of NMR in Industry 4.0 environments using our leading permanent magnet based compact NMR technology. SARTEC has second-to-none domain expertise, advanced software technology, and a unique vision for bringing refinery and other industrial processes into the fourth industrial revolution."
Established in 1995, SARTEC is the technology company of the SARAS Group. SARTEC is a global supplier of technology and solutions to improve the industrial and environmental performance of large industries, SMEs and public agencies, for the betterment of local communities. The company has an integrated approach that includes: Industrial engineering for cost-effective management of production processes in a variety of sectors. SARTEC's solutions yield a continuous improvement cycle in energy efficiency with respect to production and operations resource efficiency. SARTEC develops these solutions in order to move the energy industry towards sustainability. SARTEC's parent company, SARAS Spa, owns one of Europe's largest oil refineries, processing 15 million tonnes of crude oil per year (300,000 barrels per day) and is the leading refinery in the Mediterranean area, integrated with petrochemicals units and one of the largest IGCC gasification plant. SARTEC is the vector of SARAS Group's expertise, know-how and skills in the field of industrial and technological services for the oil, energy and environment sectors and leverages on longlasting successful operations in the Saras Group's oil refinery at Sarroch, to offer a wide range of consultancy services on industrial plants' technology, operation, asset management and supply chain. Main SARTEC's assets are: Two state-of-the-art chemical laboratories for environmental and oil testing and analysis (oil, products and marine bunker fuel); a laboratory with certified equipment for the maintenance of analytical instruments; an optical laboratory for the assembly and calibration of proprietary spectroscopic instrumentation. The company continues to exploit new global market opportunities independently and with partners.
Nanalysis trades on the TSX Venture Exchange (TSXV) in Canada with ticker symbol 'NSCI'. The company's business is what we term "MRI for industry": It develops and manufactures portable Nuclear Magnetic Resonance (NMR) spectrometers or analyzers for laboratory and industrial markets. The NMReady-60™ was the first fully featured portable NMR spectrometer in a single compact enclosure requiring no liquid helium or any other cryogens, and the company has followed-up that initial offering with new products and continues to have a strong innovation pipeline. Nanalysis recently announced that it will begin selling a 100MHz device in early 2020. The Company's new device will be the most powerful non-cryogen, permanent magnet NMR device ever brought to market.
Nanalysis devices are used by chemical professionals in many industries (oil and gas, chemical, mining, pharma, biotech, flavor and fragrances, agrochemicals, and more) as well as numerous government and university research labs around the world. The company continues to exploit new global market opportunities independently and with partners.
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This news release contains certain "forward-looking statements" within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as "anticipate", "continue", "estimate", "expect", "may", "would" occur. These statements are only predictions of what we believe might happen. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Corporation is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Nanalysis Scientific Corp.
For further information: Lorenzo Sassu, Innovation & Digital solutions Manager, SARAS Ricerche e Tecnologie S.r.l., T +39 070 2464 119; Sean Krakiwsky, CEO, Nanalysis Scientific Corp., T +1.587.436.1291