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AIRTEST TECHNOLOGIES INC.
-Revenue base: $1.7M 2009, $2.5M 2010, From 6/10 to now avge $3.5M annualized.
-Base business now profitable and project $5M in 2011.
CLAIRTEC DIVISION – OPPORTUNITY WITH BREAKTROUGH SENSOR TECHNOLOGY
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Challenges faced by today’s gas sensors
- Most commercial gas sensors “drift” so require calibration to maintain accuracy.
- Most gas sensors have a limited life of 2-6 years.
- Many applications cannot bear today’s maintenance and replacement cost.
- Appliance & Equipment mfrs need sensors with longer life and lower cost.
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Airware technology – exclusive global license to AirTest
- Will offer a zero drift sensor with 15-20 year life.
- Three platforms have been developed to prototype stage.
- Results to date indicate better accuracy, zero drift, and lower cost components.
- Initial one-time calibration process much less costly than that of other IR sensors.
- 2009 patent applications give solid protection to the ZD technology.
- No patent for calibration process, however it is highly proprietary.
- The 3 platforms will enable sensor advantage for CO, CO2, combustibles, refrigerants, moisture (dew point), and eventually some less common gases.
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Markets for new sensor technology
- ZD38 - Existing CO2 sensor market - 2 million sensors per yr - $80MM market
- ZD38 – Dewpoint sensors addressable market - $110MM
- ZD38/ZD1000 – CO for all enclosed parking garages – $100MM market
- ZD1000 – Industrial & atmospheric - $150MM market
-
ZDFuse – OEM combustible and CO applications - $1.9 B addressable market
- Hot water heaters - $55MM market
- Residential furnace mfrs - $110MM market
- Non vented combustion heater mfrs - $44MM market
- Commercial & residential fire detection $1.5 B market
- Residential gas leak detection $210MM market
- Sales projections for AirTest and ClairTec Division0
‘million $ 2011 2012 2013 2014 2015
AirTest operating company 5.1 11.2 18.9 25.8 32.2
ClairTec Division .3 7.8 30.2 62.5 119.3
ATI Consolidated 5.4 19.0 49.1 88.3 151.5
Note: This schedule will see consolidated ATI profitable by second quarter, 2012
including ongoing License commitment costs and all other R&D expense.
-
New Technology Development Milestones
- During 2010 – prototype designs for all 3 platforms were completed
- Nov 2010 – 16 prototype ZD38 set up for ongoing testing at Airware lab
- January 2011 – 100 ZD38 prototypes built for further testing
- Feb 2011 – LOI signed with Jaquet to conduct further tests, validation of technology, and prepare ZD38 for certification and initial production
- Mar 2011 – Initial prototypes for ZD1000 ready for testing
- May 2011 – Final design approvals of ZD38
- June 2011 – Initial prototypes for ZDFuse ready for initial testing
- July 2011 – Final design approvals of ZD1000
- Oct 2011 – Initial small volume production of ZD38
- Nov 2011 – Initial small volume production of ZD1000
- Jan 2012 – final design approval of first ZDFuse model
- Mar 2012 – Optimized production of ZD38 and ZD1000 platform
- June 2012 – Initial production of ZDFuse
- Jan 2013 – Commence volume production of ZDFuse
Financing requirements for ATI/ClairTec program
-First quarter 2011 - $2MM
-Use of proceeds
-clean up debts related to maintaining license agreement - $800K
-capital to finance new technology development - $600K
-marketing programs - $200K
-working capital to support existing business growth - $400K
-Last quarter 2011 - $2MM
-$1MM for working capital to support growth
-Balance for further development and manufacturing new sensor products
royrogers
www.marketcents.com