Illusense has announced that Adrian Banica has been appointed as the company’s new Executive Chairman.
Brad Bycraft, CEO of Illusense commented: "Our team is very pleased to welcome Mr. Banica to the Board. His extensive experience in financing and commercialising complex hardware solutions and his insight and knowledge of the oil and gas pipeline industry will be invaluable as we continue to develop our technology. Mr. Banica's considerable management and boardroom experience will add to the strength, depth and effectiveness of our team."
Banica has founded two successful technology ventures in the last 20 years. The first was an electronics engineering company which designed a number of advanced oil and gas and space satellite systems and was acquired in 1999 by Belgium based Rhea Space Systems. His second enterprise, publicly listed Synodon Inc., is an advanced remote sensing company which successfully commercialised a methane sensing technology originally deployed on a NASA satellite by the Canadian Space Agency. The resulting helicopter based system, realSens™, is used primarily by oil and gas pipeline operators to detect leaks and emissions from their networks as well as other potential integrity issues. Banica has helped secure over US$25 million in financing for the venture and assembled a strong management team to design, develop, commercialise and sell the resulting services directly to US and Canadian pipeline operators.
Edited from press release by Angharad Lock