Source: Forbes Australia by Josh Lai – Quick Takes: Three Australian entrepreneurs to watch – Issue 22
When RMIT professor Alan Wong saw the aftermath of the 2009 Black Saturday bushfires in Victoria, he recognised a problem in Australia’s power infrastructure.
“I realised how vulnerable power networks are when faults go undetected,” Wong says. “That pushed me to build technology that could detect those failures earlier.”
In 2013, he launched IND Technology to develop systems capable of identifying faults on power lines before they escalate into outages or fires.
The company’s flagship Early Fault Detection system gives grid operators real-time visibility into defects across power networks, allowing faults on power lines to be located to within around 10 metres, according to Wong. IND Technology now works with major utilities worldwide.
The company raised $50 million in its first institutional funding round last year, co-led by Angeleno Group and Energy Impact Partners, with participation from Virescent Ventures and Edison International.
“IND Technology has already secured global traction and deep adoption with their proven, homegrown solution preventing fires and improving reliability across major networks in Australia and North America.” says Virescent Ventures managing partner Kristin Vaughan.
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