Vortex Technology Group, LLC, a business entity of the Vortex Companies' Products Division, has announced that it has completed the transfer agreement with Pipeline Renewal Technologies (PRT), to acquire the VeriCure trademark.
With this latest deal, Vortex will now be able to market and sell its recently acquired Curing Monitoring System technology (CMS) under the popular brand name and align all manufacturers, distributors, and end users to adopt the technology brand. "VeriCure is synonymous with performance, quality and customer support; all of which are in full alignment with the CMS technology's legacy originally developed and patented in Germany in 2010," said Vortex Companies Chief Executive Officer, Mike Vellano. "After we acquired the technology patents and intellectual property from OSSCAD in November 2020, we knew a strong global brand concept was necessary to build on its success."
"We're excited to be working with Vortex to support the CMS product line and carry forward the VeriCure name as the sole brand for the CMS technology," added Richard Linder, President & Chief Executive Officer of Pipeline Renewal Technologies. "We anticipate much greater demand for the VeriCure product, through Vortex's focus on the market and its commitment to an improved supply chain, technological development and customer support."
VeriCure, patented in 19 countries and specifically in the US in 2012, was developed to continuously monitor a cured-in-place pipe (CIPP) liner's cure temperature during the installation process. After it was initially licensed in the US by a domestic firm, shortly thereafter it was adopted by many of the country's largest CIPP contractors and manufacturers to reduce installation costs and promote quality assurance. Vortex is now focused on expanding the product's field support, developing industry QC standards and educating the engineering leaders of the trenchless market. Vortex believes that having the platform of a single brand and a single source of technical support will resonate well with the industry. "Brand alignment for any product, no matter how technologically advanced, is key to our success and we are grateful for the co-operation of Pipeline Renewal Technologies in this effort," stated Andrew Gonnella, President of the Vortex Products Division. "As Vortex launches VeriCure into the future, we aim to transform quality control as the trenchless industry knows it and continue to deliver new efficiencies for CIPP contractors and municipalities alike. We're excited about the growth of VeriCure as we look to further enhance the technology and establish VeriCure as the standard for CIPP temperature monitoring. Through liner warranty partnerships, development of national engineering standards and adoption into contractor SOPs, VeriCure will drive CIPP market growth and reach," added Gonnella.
Read the article online at: https://www.worldtrenchless.com/special-reports/04022021/vericure-trademark-acquired-by-vortex-technology-group/