Company History

Historical Background

Structural Monitoring Systems commenced commercial operations in 1995 in Perth, Western Australia. The purpose of the company is to commercialise Comparative Vacuum Monitoring (CVM™) technology. The initial intellectual property was developed by its inventor Mr Ken Davey. Ken Davey exchanged his intellectual property rights for a minority shareholding in Structural Monitoring Systems. Structural Monitoring Systems owns and controls all of the intellectual property related to its CVM™ technology.

 

Structural Monitoring Systems was floated on the Australian Stock Exchange (ASX) in June 2004. The Board has meetings on a monthly basis.

 

Commercial Achievements

In 10 years of operation Structural Monitoring Systems has achieved a number of key commercial and technical milestones:

  • Commercial Operations
  • Offices, manufacturing facilities and R&D operations established in Perth
  • Business operations extended to the USA and UK
  • Build up of personnel to 24 full-time employees

 

Funding

  • Awarded $275,000 in Commonwealth government grant for export related marketing activities (Export Market Development Grant Program)
  • Secured private equity funding of $13,918,000
  • Secured initial public offer equity funding of $5,000,000 in August 2004
  • Secured additional public equity funding of $3,518,000 via share placements with institutional investors ($3,200,000) and a shareholder share purchase plan ($318,000) in September 2005 

 

Key Milestones

  • 1996 CVM™ first used in fatigue testing military airframes by DSTO.
  • 1998 First commercial contract with Airbus funded by BAe.
  • 2000 BAe military aircraft coupon testing program.
  • 2001 CVM™ adopted by Airbus for testing in Europe & UK.
  • 2002 First installation on operating aircraft for US Navy (H53).
  • 2003 CVM™ adopted by Airbus for testing new materials for new large commercial aircraft.
  • 2004 First installation on an operating Boeing commercial passenger aircraft and commencement of Boeing CVM™ NDT Standard Practices Manual program.
  • 2004 CVM™ adopted by Airbus for large scale fatigue testing and prognosis in the development of large commercial aircraft.
  • 2005 CVM™ being adopted for onboard airframe structural monitoring and prognosis by several military operators – ADF Black Hawk; RN Sea King; RAF Harrier II and Nimrod MRA2.
  • 2005 Pakistan Air Force structural integrity program – FT-5, Mirage 3, C-130
  • 2005 Commencement of Airbus In-flight CVM™ Structural Integrity Monitoring joint development agreement program.
  • 2005 License agreement with Boeing for CVM™ use on Boeing commercial aircraft
  • 2005 Evaluation of CVM™ sensors on Airbus TANGO Composite Fuselage structure

 

Current CVM™ Products

  • Silicone Sensors – Moulded Silicon
  • Sheet Sensors – Laser Ablated from Polymer Sheet
  • KVAC - The base product reference vacuum source
  • SIM8 – The pressure flow meter that connects to sensors
  • PM200 – The Portable Monitor system designed to suit all types of customer requirements from airframe inspections to inspection of stationary and mobile equipment.

 

Joint Development Programs

  • Airbus – In-Flight Structural Integrity Monitoring capability development.
  • Boeing, Federal Aviation Administration (FAA), US Airline Operators – Boeing NDT Standard Practices Manual
  • Lockheed Martin / BAE SYSTEMS – Joint Strike Fighter structural Prognostic Health Monitoring capability trade study
  • European Aerospace Defence Systems (EADS) Military Aircraft - Maintenance Management System Structural Integrity Sensor evaluation program