Corrolytics Company Profile

Background

Overview

Corrolytics is an innovative technology startup specializing in corrosion detection and monitoring solutions for industrial assets. Founded in 2020, the company is headquartered in Cleveland, Ohio. Corrolytics addresses the global challenge of microbiologically influenced corrosion (MIC), which contributes to significant operational costs and environmental concerns across various industries.

Mission and Vision

Corrolytics aims to revolutionize industrial asset management by providing near real-time, on-site detection and quantitative measurement of MIC. The company's mission is to enhance asset safety and efficiency, reduce operational costs, and extend the lifespan of critical infrastructure. By offering innovative corrosion monitoring solutions, Corrolytics seeks to de-risk the energy transition and promote sustainable industrial practices.

Industry Significance

The global corrosion problem is estimated to cost approximately $2.5 trillion annually, with microbial corrosion accounting for a significant portion of this expense. Traditional corrosion detection methods often fail to accurately identify MIC, leading to misdiagnosis and ineffective mitigation strategies. Corrolytics' technology addresses this gap by providing precise, on-site detection of MIC, thereby enhancing operational efficiency and safety across industries such as oil and gas, maritime, and critical infrastructure.

Key Strategic Focus

Core Objectives

• Innovative Technology Development: Develop and deploy advanced corrosion detection solutions that offer near real-time, on-site analysis.

• Market Expansion: Establish a strong presence in industries heavily impacted by corrosion, including oil and gas, maritime, and critical infrastructure sectors.

• Sustainability Initiatives: Promote sustainable industrial practices by reducing the carbon footprint associated with corrosion-related infrastructure replacements.

Areas of Specialization

• Microbiologically Influenced Corrosion (MIC) Detection: Specialize in the detection and monitoring of MIC, a prevalent and often underdiagnosed form of corrosion.

• On-Site Corrosion Analysis: Provide solutions that enable immediate, on-site corrosion assessment, facilitating prompt decision-making and mitigation.

Key Technologies Utilized

• Electrochemical Test Kits: Develop patented test kits that allow for accurate, near real-time measurement of corrosion rates and differentiation of MIC from other corrosion types.

• Data Analytics Platforms: Utilize advanced data analytics to interpret corrosion data, providing actionable insights for asset management.

Primary Markets Targeted

• Oil and Gas Industry: Address the challenges of pipeline integrity and maintenance by offering solutions to detect and mitigate MIC.

• Maritime Sector: Provide corrosion monitoring solutions for ships and offshore structures to enhance safety and operational efficiency.

• Critical Infrastructure: Support the maintenance of essential infrastructure such as bridges, water treatment facilities, and power plants by offering effective corrosion detection and monitoring tools.

Financials and Funding

Funding History

Corrolytics has secured over $1 million in funding through various channels, including both dilutive and non-dilutive sources. Notable funding achievements include:

• 2024: Secured a $200,000 Phase 1 award from the U.S. Department of Transportation's Small Business Innovation Research (SBIR) program to develop a test kit for evaluating biocide efficacy in limiting MIC.

• 2024: Selected to participate in the Rice Alliance Clean Energy Accelerator, gaining access to industry experts and resources to accelerate development.

Utilization of Capital

The capital raised is primarily allocated towards:

• Product Development: Advancing the design and functionality of corrosion detection technologies.

• Market Expansion: Establishing partnerships and expanding the company's presence in target industries.

• Operational Scaling: Enhancing operational capabilities to support increased demand and deployment of solutions.

Pipeline Development

Key Pipeline Candidates

• Electrochemical MIC Test Kit: A patented test kit designed for on-site detection and quantification of MIC, enabling near real-time corrosion analysis.

Stages of Development

• Prototype Development: Completed initial prototypes demonstrating the feasibility of the technology.

• Pilot Testing: Conducted pilot projects in Houston and Brazil to validate the effectiveness of the test kit in real-world conditions.

• Market Readiness: Preparing for commercial deployment, with plans to have products available for sale in Q2 2026.

Target Conditions

• Microbiologically Influenced Corrosion (MIC): Focus on detecting and mitigating MIC, a significant contributor to corrosion-related damages in industrial assets.

Anticipated Milestones

• Q2 2026: Launch of commercial products, marking the transition from pilot testing to full-scale market deployment.

Technological Platform and Innovation

Proprietary Technologies

• Electrochemical Test Kits: Unique, patented test kits that provide accurate, near real-time detection and quantification of MIC on-site.

Significant Scientific Methods

• Electrochemical Analysis: Utilize advanced electrochemical techniques to measure corrosion rates and differentiate MIC from other corrosion types.

• Data Analytics: Employ sophisticated data analytics to interpret corrosion data, offering actionable insights for asset management.

Leadership Team

Anwar Sadek – Chief Executive Officer & Co-Founder

Dr. Sadek holds a PhD from The University of Akron in Chemical, Biomolecular, and Corrosion Engineering. He has experience as a Development Chemist at PPG Industries Inc., focusing on anti-corrosion automotive coatings. Dr. Sadek has presented his work on microbial corrosion at various technical events and is a published author and patent co-owner.

Dr. Chelsea Monty-Bromer – Scientific Advisor & Co-Founder

Dr. Monty-Bromer is an Associate Professor in Chemical and Biomedical Engineering at Cleveland State University. She specializes in microbiologically influenced corrosion and corrosion monitoring, with expertise in electrode functionalization, electrochemical engineering, and materials characterization.

Dr. John M. Senko – Scientific Advisor

Dr. Senko is a microbiologist with expertise in the interactions of microorganisms with solid phases and the metabolism of metals. He is the scientific advisor and co-inventor of the MIC Monitor Test Kit.

John P. Anerousis, P.E. – Technical Consultant

Mr. Anerousis is an independent consultant with InnoLexx and a Certified Mentor with SCORE Houston. He has been involved in the formation, startup, and successful operation of five new technology-based companies.

Jim Griggy – Business Advisor

Mr. Griggy has mentored the team during the National Science Foundation (NSF) I-Corps program and is currently a business advisor for the Small Business Development Center (SBDC) in Akron. He provides in-depth business advising and training services to help small businesses at various stages of development.

Dr. Joshua Davis – Biological Scientist

Dr. Davis is a PhD candidate at the University of Akron, focusing on studying the effects of microbiologically influenced corrosion in oil and gas pipelines.

Market and Competitor Profile

Market Insights and Dynamics

The corrosion detection and monitoring market is characterized by a growing emphasis on sustainability and operational efficiency. With industries seeking to extend asset lifespans and reduce environmental impact, innovative solutions like Corrolytics' technology are gaining traction. The market is competitive, with several companies offering corrosion monitoring services, but Corrolytics' focus on MIC detection and near real-time, on-site analysis differentiates it from many competitors.

Competitor Analysis

• LuminUltra: Provides biological diagnostic testing services, including microbial testing solutions.

• BioFire Defense: Develops biological agent identification products.

• Novilytic: Utilizes nanotechnology to monitor the quality of lifesaving medicines.

• Fieldstone Bio: Offers remote-sensing services in the biotechnology sector.

While these companies operate in related fields, Corrolytics' specialization in MIC detection with patented electrochemical test kits and real-time on-site analysis offers a unique positioning in the market.