Pike Robotics Company Profile

Background

Overview

Pike Robotics, established in 2021 and headquartered in Austin, Texas, specializes in developing advanced robotic solutions for inspecting above-ground storage tanks (ASTs) in hazardous environments. The company's mission is to enhance safety, efficiency, and data quality in industrial inspections by replacing traditional manual methods with innovative robotic technologies. Their flagship product, the Wall-Eye robot, is designed to perform in-service inspections of external and internal floating roof storage tanks without the need for confined space entry.

Mission and Vision

Pike Robotics aims to revolutionize industrial inspections by providing safe, efficient, and reliable robotic solutions that minimize human exposure to hazardous conditions and reduce operational downtime. Their vision is to create a fleet of robots capable of inspecting and repairing critical infrastructure, with a particular focus on the vapor space of above-ground storage tanks.

Industry Significance

The company addresses a critical need in the energy sector, where over 130,000 large floating roof storage tanks globally require annual inspections. Approximately 25% of these assets are located in North America. Traditional inspection methods are often outdated and pose significant safety risks. Pike Robotics' solutions offer a safer and more efficient alternative, potentially transforming inspection practices across various industries.

Key Strategic Focus

Core Objectives

• Safety Enhancement: Eliminate the need for human entry into confined and hazardous spaces during inspections.

• Operational Efficiency: Reduce inspection times and associated costs by enabling in-service inspections without the need for asset shutdowns.

• Data Quality Improvement: Provide comprehensive, high-resolution data to inform maintenance decisions and improve asset management.

Areas of Specialization

Pike Robotics specializes in robotic inspection platforms designed for hazardous, high-risk environments, focusing on above-ground storage tanks in the oil and gas industry.

Key Technologies Utilized

• Wall-Crawling Robotics: The Wall-Eye robot is engineered to navigate and perform inspections on the walls of storage tanks, capturing critical data without human intervention.

• Multimodal Sensing: Equipped with sensors for visual, thermal, gas concentration, and ultrasonic measurements, the robot provides a comprehensive assessment of tank conditions.

• Autonomous Navigation: Advanced algorithms enable the robot to operate autonomously within complex environments, ensuring thorough and efficient inspections.

Primary Markets Targeted

• Oil and Gas: Inspection of above-ground storage tanks in refineries and storage facilities.

• Chemical: Assessment of storage tanks in chemical processing plants.

• Waste Water: Evaluation of storage tanks in wastewater treatment facilities.

• Pulp and Paper: Inspection of storage tanks in pulp and paper mills.

• Defense: Assessment of storage tanks in military facilities.

• Food and Beverage: Evaluation of storage tanks in food and beverage processing plants.

• Pharmaceutical: Inspection of storage tanks in pharmaceutical manufacturing facilities.

• Power Generation: Assessment of storage tanks in power plants.

Financials and Funding

Funding History

Pike Robotics has secured funding from various sources, including government agencies, universities, industry consortiums, venture capitalists, and pitch competitions. Notably, the company received a Phase 1 Small Business Innovation Research (SBIR) award from the National Science Foundation (NSF) in 2023, amounting to $274,703.

Total Funds Raised

The company has raised a total of $270,000, with the most recent funding round occurring approximately three years ago.

Notable Investors

• National Science Foundation (NSF): Provided a Phase 1 SBIR award in 2023.

• NextFab Ventures: Served as the first equity investor and product development partner in 2024.

Intended Utilization of Capital

The capital raised is intended to support the development and deployment of Pike Robotics' inspection technologies, including the Wall-Eye robot, and to expand the company's operations and market reach.

Pipeline Development

Key Pipeline Candidates

• Wall-Eye Robot: The primary product designed for in-service inspections of above-ground storage tanks.

Stages of Development

• Prototype Development: Completed initial prototypes of the Wall-Eye robot.

• Field Testing: Conducted field tests in collaboration with industry partners to validate performance and reliability.

• Commercial Deployment: Initiated deployment in select facilities, with plans for broader adoption.

Target Conditions

• Above-Ground Storage Tanks: Specifically designed for external and internal floating roof storage tanks in hazardous environments.

Anticipated Milestones

• 2025/26: Core Project Awardee in the DeepStar® Technology Consortium.

• 2025: Phase 2 Awardee in the National Science Foundation SBIR program.

• 2024: Core Project Awardee in the DeepStar® Technology Consortium.

• 2024: First equity investor and product development partner with NextFab Ventures.

Technological Platform and Innovation

Proprietary Technologies

• Wall-Eye Robot: A wall-crawling robot designed for in-service inspections of above-ground storage tanks, capable of operating in hazardous environments without human entry.

Significant Scientific Methods

• Multimodal Sensing: Utilizes a combination of visual, thermal, gas concentration, and ultrasonic sensors to provide comprehensive data on tank conditions.

• Autonomous Navigation Algorithms: Employs advanced algorithms for autonomous operation within complex environments, ensuring thorough inspections.

Leadership Team

Connor Crawford

• Position: Chief Executive Officer, Co-founder

• Professional Background: Extensive experience in robotics and industrial applications, with a focus on developing solutions for hazardous environments.

• Key Contributions: Led the development of the Wall-Eye robot and established strategic partnerships with industry leaders.

Zach Jurecek

• Position: Chief Technology Officer, Co-founder

• Professional Background: Background in engineering and technology development, specializing in robotics and automation systems.

• Key Contributions: Oversaw the technical development of Pike Robotics' products and ensured alignment with industry standards.

Competitor Profile

Market Insights and Dynamics

The industrial inspection robotics market is experiencing significant growth, driven by the need for safer, more efficient, and cost-effective inspection methods in hazardous environments. Pike Robotics operates in a competitive landscape with several key players offering similar solutions.

Competitor Analysis

• Square Robot: Focuses on robotic tank inspection within the industrial automation sector, offering autonomous, submersible inspection robots.

• Tumi Robotics: Provides robotic inspection and monitoring solutions for sectors including mining, construction, energy, hydrocarbon, oceanography, and fishing.

• Alicia Bots: Specializes in robotic maintenance solutions for the maritime industry, focusing on the efficiency and sustainability of steel structure care.

• Abyss: Offers autonomous inspection technology across various sectors, enabling unmanned autonomous systems to capture critical data in hazardous environments.

• ULC Robotics: Develops robotic systems for utility and industrial companies to inspect and maintain infrastructure, focusing on research, development, and deployment of robotic solutions.

• HMT: Specializes in aboveground storage tank solutions within the energy sector, offering products and services including design, construction, maintenance, and inspection.

• Syscor Controls & Automation: Provides sensor solutions for the petroleum industry, including wireless sensors for hydrocarbon leak detection.

• Re-Gen Robotics: Offers robotic tank cleaning within the oil refining and storage industry, providing remote-controlled robotic cleaning technology for the cleaning of storage tanks.

Strategic Collaborations and Partnerships

Pike Robotics has established significant collaborations to strengthen its market position and innovation capacity:

• DeepStar® Technology Consortium: Awarded Core Project status for the 2024/25 and 2025/26 periods, facilitating collaboration on advanced technology development.