A company that has applied aerospace-grade composite materials to the rehabilitation and strengthening of concrete and steel structures and equipment is preparing to launch a public offer to raise funds to commercialise the technology.
ICC Mining has developed the Sitecure technology, which uses carbon fibre material to repair degraded structures in both underground and above-ground mining operations.
Its inventors believe repairs undertaken using Sitecure can be completed more quickly and at lower cost than existing repair techniques.
While the material has been used in the aerospace industry for more than 20 years, the Sitecure product marks its first use in the mining industry.
Carbon fibre is also used in other infrastructure applications, including bridges, in seismic retrofitting to protect against earthquake damage.
Osborne Park-based engineering consultancy Wave Engineering, provided seed funding and office infrastructure to the company.
ICC chief technical officer Dr Laurance Walker told WA Business News the mining industry has already been extremely receptive to the technology.
“We started in infrastructure, but the mining companies have been so much more proactive. They’re coming to us with things they want us to do,” Dr Walker said.
After a four-year development phase, Sitecure technology was selected to undertake an Australian Coal Alliance Research program in 2007 to examine the use of the process to strengthen steel structures in the coal mining industry.
This year, the company will undertake a much larger, field-based ACARP development project focusing on the repair and strengthening of steel mobile equipment and structures.
ICC is also currently in negotiations with Sumitomo Australia, a subsidiary of Sumitomo Corporation, to commercialise the technology.
ICC joins a number of other Western Australian-based start ups to have used the ASSOB board as a method of raising capital.
Live Technologies raised $600,000 through ASSOB to support development of its optical technology, local IT company Firmware Technologies has raised $1.3 million, and
minerals explorer Noble Mineral Resources $400,000.
Spinal technology developer Nubax, which last year participated in a trade mission to Wales to showcase its spinal traction unit, is also looking to use the platform to raise funds this year.
Mt Lawley-based Enhance Equity is currently the only WA accredited member of ASSOB.
