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Veros Systems Awarded Third Tranche of $1.5 Million Texas Emerging Technology Fund


August 2, 2012 - College Station, Texas, United States

Veros Systems today announced that it has been awarded the third tranche of a $1.5 million investment from the Texas Emerging Technology Fund.

“Receipt of these funds is an important confirmation of Veros Systems’ team and our progress to date on the development and commercialization of our smart technology,” said Allan L. Wilson, Veros Systems’ President and Chief Executive Officer.

The Team

Founded in 2001 by Tommy E. Knight, former President and Chief Executive Officer of Brown & Root, Inc., and Dr. Alexander G. Parlos, Professor of Mechanical Engineering who also holds joint appointments in the department of Nuclear Engineering at Texas A&M University; the Veros team quickly grew to include Ray H. Tolson, former CEO of Pride International, and Allan L. Wilson from SAP and other software companies serving the automotive and military industries.

The wealth of experience of this group demonstrates that they understand what manufacturing, construction, onshore and offshore oil and gas facilities, as well as various industries including automotive, defense and petrochemical facilities need to stay running at peak efficiencies.

The Veros System

The Veros System uses predictive intelligence to monitor the reliability and energy efficiency of electrically powered rotating machines. It is a turn-key solution that uses only electrical measurements to continuously monitor and assess machine condition and performance. A simple, non-intrusive piece of hardware interfaces to the existing power infrastructure and uses our proprietary technology to predict the mechanical and electrical condition of electric machines and driven loads.

About Veros Systems

Veros Systems is headquartered in College Station, Texas with offices in Austin and Houston, Texas. Veros Systems is dedicated to the large-scale deployment and commercialization of the Veros System.

For more information on Veros Systems, visit www.VerosSystems.com or contact Susan Morgan at 1-979-764-6600.

CONTACTS : Veros Systems Susan Morgan, 1-979-764-6600

Source: Business Wire India

BusinessWireIndia

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