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Chrysus, Dose: yawn.....useless deramping. Try harder :)

Profit is profit, well done people. I m looking for a multibagger, given the potential. That will take time. GyroMetrics stated aim is to be adopted into fleets by Major turbine Cos. NB mentioned MHI Vestas, Siemens, etc. They are going about it systematically. DYOR. Good luck all

I doubt there’s any news just yet (only news I m expecting is more GyroMetric being acquired). But the recent interview and the trading update offer enough excitement if one remains patient and listens carefully. NB comment: “... we hope to see something more commercial...where they start installing our equipment in their fleet”. “That’s what we are really looking forward to doing.” Fleet adoption is not just hoped for, it sounds like it’s EXPECTED. It will be a game changer esp due to recurring revenue from a bolt on condition monitoring service imo. Trials take time, and 3-6 months is nothing in the grand scheme of things. Incremental but systematic progress since 2018: First ORE trial, two manufacturers now trialling, all regulatory hurdles being cleared ex ISO cert. Just my opinions here. DYOR. Good luck all

Hi olderandwiser :) Optimist has touched on a few points, but to clarify.

GyroMetric has patents for its tech and the application, both in the USA and in the EU. The tech being protected intellectually is important, but the software/algorithms developed over 2+ decades is highly unlikely to be copied overnight. Secondly getting into commercial contracts will create first mover advantage.

The trial ongoing with a major turbine co is already commercial ie they are paying us a small amount to run tests alongside the ORE team. This is not a precommercial “punt” by NB/TB. The hardware is stable in harsh marine environs, monitoring tests had “amazing” results on the ORE turbine facility and now the turbine co is merely aiming to replicate those results in its OWN turbine. Absolutely no reason these results will be short of initial results. I expect the tech to be adopted by more than one major (NB has stated they don’t want exclusivity unless a premium is paid), and for recurring revenues to flow thereafter. (It’s where the money is, as the hardware is cheap). Just patience needed. Trials take time. Imho only. DYOR.

Ok here’s my two pence. NB and TB are considered related parties. So they hold 29.6% collectively DIRECTLY. But the holding via BRH if considered as TBs, would take total holding beyond 30% triggering take over rules.

Secondly TB being in GyroMetric (indirectly via both RMS and BRH) and RMS and BRH probably makes things a bit messy in terms of giving a bigger chunk of gyro to us. The solution is BRH distancing itself from RMS.

I expect news shortly of us upping our stake in Gyro. IMHO only.

Evening folks :) nice to see sp rising, but many are still under water here. Any new investors here, please read my previous posts for some background info on sectors etc. Should be an interesting (and hopefully rewarding) 2019. DYOR. Good luck all

Art may believe he is an accomplished liar. But his body language screams deceit. Watch how he squirms 6.00 onwards: he’s asked about the gas prospects on the licence. I spoke to Cathy in 2017, and discussed OPL226. There were never any plans to capture the gas, intention was to flare it: he could have just spoken the facts instead of more bs. DYOR.

He’s not a punter, he’s an engineer who’s worked for decades in the wind energy sector, and sees huge potential in GyroMetric tech applications (not just in wind turbines but numerous other industries). He probably understands it better than most here (myself included).

Evening Bones :) I haven’t a clue. This is just a patience game. Solid business being re-built imho. 45% taken out of free float, then there’s PIs holding good chunks. Interesting times ahead for sure

Nextlink: agree with points made. But the same mantle of being the biggest holder makes us most responsible for any much needed cash injection into GyroMetric. It takes money to make money, I doubt the academics or BRH will dig into their pockets, to develop things further or for ex fund research/patents/staffing. My take from the update RNS/interview was that we will invest further cash into GyroMetric, regardless of getting more of the pie or not. (I m not saying we won’t get more of the pie, but not yet). Just conjecture at this point...

So in summary, RMS represents:

1. Exposure to the burgeoning commercial drone sector with its manifold applications (the most exciting ones are the ones we haven’t thought of yet). As the abilities of drones change, so will it’s applications. Ex: drones are now able to measure radioactivity levels, moisture, air quality, capture thermal images etc.

2. Traditional surveying market via Geocurve and its innovative off shoots. Exposure to BIM development relevant to surveying, via the mobile mapping kit ex Leica’s P2U, Pegasus. This includes 3D mapping and the exciting Virtual Reality tech being developed with Essex Uni.

3. Exposure via GyroMetric to the unmanned O&M market of offshore wind turbines, where the U.K. is vying to be a market leader. Also exposure to various sectors and applications such as marine, nuclear, manufacturing etc

We have here, a company with a £2.10m Mcap, with a debt of circa £30k (the last instalment of the Leica kit loan), cash raised of £350k plus £112k cash at end of year statement. We have aware that Geocurve revenue is growing YoY. 40% of the total share issue is in the hands of the three directors plus Brave Hearts Investments. Above posts are just my own opinion+reading on the sector and company. Hope it helps any new investors make their own decisions. In the end, it’s all about your own diligence, instinct, risk appetite and investing time frame. Good luck all

http://homeoffshore.org/index.php/project-details/

Trials being undertaken in this area: Theme 1). Advanced robotic monitoring (think drones, seabed vehicles etc) (Theme 2) and advanced sensing techniques (think IME and other sensors) (Theme 3) will be integrated into diagnostic and prognostic schemes (this is the exciting unknown AI/machine learning the RMS team is working on, as we speak) which will “allow improved information to be streamed into multi-physics operational models for offshore windfarms...”

2. Application in the oil and gas industry (note BOD experience in this sector and mention of discussions with industry in recent Trading Update)
https://gyrometric.systems/test-rigs/

3. Applications in the automobile/air industry:
From GyroMetric website: Torsional vibration measurements are useful for detecting problems with transmissions, and sub-optimal firing of internal combustion engines. Excessive torsional vibrations generated by the drive, or by variations in the load can cause failures in shafts or other drive components.

In the case of systems where the output shaft is both driven from the gearbox, and drives the gearbox (under running and over running) as in helicopter main rotors, the total drive slack in the train may be measured each time the drive load changes.

4. Applications in monitoring industrial couplings. Under “bearing monitoring” heading on GyroMetric website. “These gains are especially important in continuous production where a stoppage of any part of the process will stop the whole output, for high value equipment, or mechanisms that are critical to maintaining production such as compressors.”

Trading update refers to a trial with a “major” couplings manufacturer. Couplings are ubiquitous:
Construction (ex dump trucks, excavators & fork lifts)
Power generation
Waste water management
Food and drink industry
Mining and quarrying
Manufacturing
Transportation

Reliability/output in these industries is CRITICAL. Downtime costs £££ an hour.

WIND SECTOR:
A bit about the sector and developments. The UK offshore wind sector has ambitious plans to at least triple installed capacity (30GW) by 2030. By 2020, 10GW will be installed in the UK, 6.5GW in Germany, 2.2GW in Denmark and 1.6GW in the Netherlands.

Wind energy costs are dropping very rapidly. In last autumn’s capacity auction, the “strike prices” for two big offshore windfarms came in at £57.50 per megawatt hour and a third at £74.75. These figures – the guaranteed price for the electricity generated – compare to Hinkley’s £92.50.

The government’s infrastructure advisers recently urged ministers to RETHINK their nuclear plans and focus on renewables instead.” Wind energy investment will fill some of that gap imo.

https://www.nic.org.uk/assessment/national-infrastructure-assessment/low-cost-low-carbon/

Recommendations included: *ONLY one more nuclear plant (of HPC size)
*Focus on “whole system costs”, and for life of asset. #RMS threads provide exposure to wind and nuclear sector. In the latter, we have exposure to both commissioning (we have EDF as a client at Hinckley Point C, we have also been working on joining the supply chain for other regional projects) and decommissioning.

So what kind of savings might “predictive” condition monitoring of turbines provide? I looked for some studies or evidence. One example, and my (non technical) interpretations.
https://pdfs.semanticscholar.org/b833/56d8de241782f9ce0fcff818a9fcde030b55.pdf

1. The best combination for achieving savings is blade structural health monitoring (#Geocurve) +Drive train monitoring (#GyroMetric). Savings are 84% > passive monitoring.
2. Linear relationship between cost savings and fault detection rates.
3. Active (CBM) capital cost is less than Preventative maintenance cap cost. Savings for a 3MW each times 30 turbine farm= £6.5m over 20 year model. That’s £216k saved per 3MW turbine over 20 years. £10,833 saved per turbine per year. And turbine name plate capacities have gone up to 10MW now.
4. So in summary a vibration based active monitoring system saves £10k+ per 3MW turbine per year. That’s with fault detection set at 60%. What could our new tech achieve? And what could blade+drive train monitoring achieve? #RMS=GyroMetric+Geocurve. Savings have yet to be fathomed imho.
5. What if we scale those numbers up? Bigger turbines. A farm working as a single unit and the efficiencies from running optimally. Higher fault detection rates. I see a big opportunity to disrupt this space. #GyroMetric. And that’s one sector. Drive trains are key in innumerable industries.

Recent RNS excerpts:

“More recently GyroMetric has moved into monitoring and protecting wind turbines, having recently completed HIGHLY SUCCESSFUL trials using the world's newest and most powerful offshore wind turbine drive train test facility at the Offshore Renewable Energy (ORE) Catapult at Blyth.”

“Monitoring the condition of rotating shaft mechanisms has traditionally been carried out using vibration sensors. Such sensors measure the frequencies and amplitudes of vibration. The GyroMetric approach is to measure accurately the ACTUAL displacements and the frequencies...”

The competition doesn’t exist, in the truest sense of the term, given the tech is UNIQUE. So existing Condition Monitoring Services (CMS) measure vibrations (using accelerometers, sensors etc), thermal, acoustic etc and extrapolate this to measuring the defects within the drive train system. Examples include Gram-Juhls.

https://gramjuhl.com

From what I read, these guys have been around 21 yrs and have cornered approximately 80-90% of the offshore wind turbine condition monitoring (TCM) share worldwide, being fitted within Siemens-Gamesa (merged wind businesses in 2017) turbines etc.

Gyrometric measures ACTUAL displacement. It does this using three sensors, along two axes, and the first generation did it using DIGITAL sensors. They applied for a new patent with the U.K. IPO in March 2018, towards an improved encoder, that measures displacement using ANALOGUE sensors. This should further improve the accuracy of a technology that is already far ahead of peers, imho.

http://media.oemt.de/Whitepaper_MSPI-2010.pdf

White paper on the research published few years ago. The gyrometric team is essentially pedigree academics with serial entrepreneurs, they have been working on this tech for over 20 years. They have already commercialised it in the Marine market. Wind turbines need “marinised” kit which can withstand harsh environs. It should get very interesting if any turbine manufacturer considers incorporating this. The two cos supplying off shore turbines in the U.K. are MHI Vestas and Siemens-Gamesa.

Recent trading update RNS clearly signals TWO major manufacturers involved: “These trials have led to serious interest from two major turbine manufactures, one of which has signed a contract to test the IME system on their own equipment in 2019 and a further trial is scheduled at ORE for the other. In 2019 further material progress and COMMERCIAL developments are expected in relation to both these opportunities.” Imho this is GE and either Siemens or MHI Vestas.

Plus “strong” enquiries from numerous other manufacturers (ALL three major chinese manufacturers, and let’s face it, if you are ignoring China as a market, you are missing a big chunk going forwards). Intellectual property developed over decades of research, ie proprietary software and algorithms, towards interpreting the IME data.

They also have a method of measuring torque in rotating shafts, to prevent overload. In predictive maintenance, this is invaluable not just to diagnose a problem, but to remotely INTERVENE, before irreversible damage occurs.

The gearbox has been shown to have the longest downtime and is the most costly subsystem to maintain throughout a turbine’s 20 years of design life. Naturally, operations and maintenance has focussed on improving the monitoring/predicting breakdowns of this component.

From the condition monitoring service (CMS) perspective, a wind turbine gearbox consists of three major components: gears, bearings, and lubricant. The task for a good CMS is to detect these failures at an early stage without disassembly of the gearbox so that condition-based maintenance can be achieved.

Circa 80% of bearing failures are as a result of lubrication issues. Monitoring the lubricant, especially monitoring for wear metals will give a significantly earlier indication of bearing distress than vibration.

ORE ENDORSEMENT of GyroMetric:
Every company thinks its own product is innovative and stands out. What do independent agencies have to say? From the ORE LinkedIn page: “The Offshore Renewable Energy (ORE) Catapult forms part of an ELITE network of eight technology and innovation centres established and overseen by Innovate UK, which represents a ONE BILLION POUND public and private sector investment over the next five years.

ORE Catapult is the UK's FLAGSHIP technology innovation and research centre for OFFSHORE WIND, wave and tidal energy. “We deliver prioritised research underpinned by world-class test and demonstration facilities, collaborating with industry, academia and Government to reduce the cost of offshore renewable energy and create UK economic benefit.”

Essentially world class facilities, well funded systematic research, highly respected world wide. They describe Gyrometric Systems as a “GAME CHANGER”. Page 8 of 9 Summer 2018 edition mag below.

https://s3-eu-west-1.amazonaws.com/media.newore.catapult/app/uploads/2018/06/19104855/Circuit-Issue-13-web.pdf

The mention in recent trading update of “Nuclear Decommissioning” is very interesting. NDA: £3.112 billion spend planned for JUST FY 2019.
https://www.gov.uk/government/consultations/nuclear-decommissioning-authority-business-plan-2019-to-2022/draft-business-plan-financial-year-beginning-april-2019-to-financial-year-ending-march-2022#year-overview
“Support Small and Medium Enterprise organisations by increasing overall spend with them in line with the government Growth Agenda....” RMS (Geocurve) will in my opinion, be involved in regional decommissioning project/s as Govt intends to support regional businesses. Note the concentration of projects in the south, all Magnox managed. Page 14 of NDA Draft business plan 2019-22. The existing contract for decommissioning is due to end later this year (Aug 2019), at which point Magnox will be absorbed by the NDA.

The VR surveying looks innovative. Applications according to their website include: archaeology, quantity surveying, sea wall mapping, building modelling, hostile environments, crime scene investigation and accident analysis.

GyroMetric:
Share structure: 58% RMS, 19.9% BRH, Remainder is owned by University/academics I assume. RMS holding can diluted by options to 53%. Please read through information on the GyroMetric website. Pedigree academics involved in developing the tech over the last 15+ years.
https://www.ntu.ac.uk/business-and-employers/research-and-innovation/spin-out-companies-and-patents

Current applications include monitoring of marine propulsion systems, machine tools and wind turbines. Targeted industries also include oil&gas critical monitoring, industrial applications of couplings etc.

So Gyrometric signals a completely new REVOLUTIONARY method of monitoring wind turbine condition. (Apart from the numerous places in various industries that a drive shaft is used).

1. Application in the Wind turbine industry:
The wind energy sector looks the biggest and earliest opportunity to crack. Only two big turbine manufacturers supplying to UK offshore as far as I know : Siemens Gamesa and MHI Vestas.

In the case of a transmission or gearbox, devices integrated to input and output shafts facilitate a detailed analysis that can show
A. Bearing failure
B. Gear wear degradation
C. Oil contamination/condition of the lubricant
D. Shaft imbalance
E. Bearing rub and mechanical failure

From initial GyroMetric acquisition RNS: “The wind turbine installation is designed to monitor the ENTIRE drive system, including the main rotor bearing, the gearbox and its bearings, the coupling and the generator input bearing. This array covers ALL of the major mechanical failure points. When installed across all turbines in a wind farm, the system is capable of monitoring drive train loads to maximise energy take-up without damage.”

I thought I d post my background reading. Some of it is repeated from months ago, but no harm in sharing :)

RMS comprises two companies, Geocurve and GyroMetric.

Geocurve:
100% RMS owned. Four main business threads as highlighted on their website.

Important sector developments :
1. Drone industry: U.K. govt taking the lead in managing drones. New laws, apps, registration etc. Basically the industry is on the verge of an explosion (from mostly non commercial market, to commercial) and is crying out for regulation. Recent disruptions at airports made a case for this. Drone tech is changing, the software side is being developed. We’ve seen unprecedented deals like this.

https://www.theverge.com/2018/3/22/17146538/dji-skycatch-komatsu-explore1-construction-surveying-drone-order

Link to drone regulations released May 2018.
https://www.gov.uk/government/news/new-drone-laws-bring-added-protection-for-passengers

https://dronesafe.uk/drone-code/

Note this point, relevant to inspection. Geocurve website: 2015: EVLOS and upto 650 feet height, permitted by CAA.

2. BIM and it’s widespread adoption within construction industry. The U.K. leads here, with “digitalisation of industry” being one of five prongs in the govt “Industrial strategy”.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/664563/industrial-strategy-white-paper-web-ready-version.pdf

And moving through the “levels” of BIM is a priority to get there. Disrupters like Aecom, Jacobs, Vinci etc are on it too.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/34710/12-1327-building-information-modelling.pdf

Innovative trials tweeted by geocurve include:
Trial with water company to survey containers/restricted areas
Trial with AVIVA to survey/inspect historic buildings
Trial to survey/inspect roof tops/water towers for water co
Trial with HH to survey flood defenses
Trial with AECOM to survey airport runway
Trial to demonstrate VR survey deliverable to water company

Note the initiative to get onto the nuclear supply chain with EDF
https://www.investessex.co.uk/essex-suffolk-companies-nuclear-supply-chain/
https://www.eadt.co.uk/ea-life/multi-million-pound-nuclear-supply-chain-opportunities-to-aid-norfolk-and-suffolk-businesses-in-sizewell-and-bradwell-bids-1-5767244

Clients on website plus tweeted over last 9 months: Stantec, Royal Haskoning, Jacobs, AECOM, Vinci, Ringway Jacobs, AVIVA, HH, Barhale, numerous water Cos/alliances contributing to AMP6, Aggregate Industries, Countryside properties, Robert West etc.

Several of these companies have a presence in dozens of countries (apart from UK agencies such as EA) and some are behemoths covering Design Build Finance Operate (DBFO) ie entire project lifecycle. Many of them work as parts of consortia delivering massive programs like HS2, Heathrow expansion, Hinckley nuclear, other regional tran

Cheers Bones! I ve working on more restraint lol
There’s a value-share price disconnect, so I have no concerns with a paper loss. In the end it’s about ones appetite for risk. If one has the conviction to buy into a growth story like this one, then they must also find the patience to wait through the transition storms. It takes as long as it takes. Imho only. DYOR.

I was being sarcastic. RR mentioned he/she employed 120 employees. Apologies for any anxieties caused to fellow investors. Both companies are in good health, and growing to meet the business demands ahead.

Geocurve LinkedIn: “We are a team of 8 engineers, 3 data analysts,
6 UAV pilots, 1 pilot, 4 boat operators and a chartered engineer.” Numbers probably slightly off as they have recruited 2-3 people (and lost one) from what read.

The GyroMetric team probably has less than 10, no idea.

Fully agree. Nothing can replace doing your own reading and trusting your own instinct. I feel sorry for anyone taking a gamble in any share, not just this one. I feel sorry for those 120 employees too.