NORTH-EAST company Advanced Coating Initiative (ACI) is anticipating a strong boost to its finances from future sales of a product aimed at extending the life-span of components operating in harsh conditions.
ACI, a specialist coatings firm set up by Jim Davidson and Simon Cheyne at Portlethen, in 2004, has forecast £3million-worth of annual sales of the InnerArmor technology by next year.
The firm said yesterday it was targeting turnover of about £1.8-£2million this year, against £1.3million in 2008, but this is expected to jump substantially in 2010 once the InnerArmor sales are factored in.
ACI has recently launched a separate business stream to deliver the product, which was developed by American firm Sub-One in partnership with the Aberdeen-based intermediary technology institute for energy. The new technology involves the application of a diamond-like carbon film to the internal surfaces of components to extend their life-span.
ACI sees huge market potential, not just in the oil and gas sector but also the aerospace, vehicle and food-processing industries plus public utilities. The global market is worth an estimated £17.5million to ACI and a network of other suppliers.
Mr Davidson said: “The technology continues to attract wide interest from the oil and gas sector, where companies have traditionally had to pay a premium for expensive alloys to extend component life.”
ACI’s bosses believe InnerArmor could lead to several hundred million pounds of savings a year for the global oil and gas industry.