South Jordan, UT (February 28, 2017) — LiveWire Innovation, Inc. (“LiveWire”), a technology company using its patented Spread Spectrum Time Domain Reflectometry (SSTDR) to enable operators and equipment manufacturers to monitor live systems for the detection and location of electrical faults, announced that Oceaneering International, Inc. (“Oceaneering”, NYSE: OII) has invested in the Company as a minority shareholder.
Oceaneering is a global oilfield provider of engineered services and products primarily to the offshore oil and gas industry, with a focus on deep-water applications. Through the use of its applied technology expertise, Oceaneering also serves the defense, entertainment, and aerospace industries.
LiveWire expects to collaborate with Oceaneering in addressing synergistic market-applications and through a strategic relationship it has with Viper Innovations Ltd., a UK-based engineering company that develops electrical integrity monitoring systems and provides services to the subsea oil and gas industry.
John Baumann, CEO of LiveWire Innovation, commented, “We appreciate the vote of confidence Oceaneering has shown in LiveWire and our SSTDR technology by becoming an investor. The rapidly expanding use of embedded sensor technologies and data correlation techniques, like those offered by LiveWire’s SSTDR, fits well with Oceaneering’s presence in high-value asset applications and can be leveraged by the capabilities of their Global Data Solutions group.”
About LiveWire Innovation
LiveWire Innovation is the exclusive provider of Spread Spectrum Time Domain Reflectometry solutions through ownership and licensing of 15 issued or pending patents in the area of SSTDR and related analytics and correlation techniques. The Company was started in 2004 and has ties to the University of Utah through its co-founder, strategic advisors and employees. Initial development and applied application of SSTDR was funded by US Government contracts before a strategic shift to product commercialization. Today, LiveWire works with OEMs, end-equipment manufacturers and operators to integrate its live monitoring capabilities into end-systems, along with selling handheld and housed products for use in field testing and installable deployments. SSTDR has broad applications in safety, security, reliability and data collection.