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Precision mapping technology specialist ProStar (TSXV:MAPS / FSE:5D00) has signed a service level agreement with WSB, an award-winning design and consulting firm that works in the infrastructure services space. WSB will be using ProStar’s proprietary cloud and mobile technology.

The agreement comes hot on the heels of an earlier agreement between ProStar and US engineering heavyweight Kraemer, announced at the start of this week. Both deals demonstrate that ProStar’s PointMan technology is winning friends and admirers within the US civil engineering community. They come at a time when the US construction sector is in focus as part of the new administration’s infrastructure building ambitions.

ProStar has the solution to many workflow challenges

WSB has been ranked by Engineering News Record as one of the top 500 engineering design firms in the United States, and it is in fact ranked at #185. It works in engineering, community planning, environmental and construction services areas within the US.  WSB said it that the ProStar technology had scope to significantly improve the workflow processes and businesses practices that have been part of the engineering industry over the last 25 years.

WSB will be using ProStar’s flagship PointMan technology which allows engineers and contractors to consult remotely on underground infrastructure, accessing a cloud-based database of information on critical elements like pipes, electricity cables and fibre optics. The technology is designed to radically reduce the risk of such infrastructure being damaged in the course of construction operations.

“Simply put, we adopted PointMan because it makes our jobs easier, safer and creates efficiencies for our clients and partners,” said Frank Schill, pipeline inspector at WSB.

Listen: Podcast with Page Tucker, CEO of ProStar Holdings

“Game changing technology”

“The fact that we are now seeing adoption by large national construction and engineering and surveying firms is a key indicator that we have developed a game changing technology,” explained Page Tucker, CEO of ProStar. “These are the firms that take on the liabilities and risk associated to not knowing the precise location of the buried utilities and so the decision to adopt and implement a new technology that replaces well entrenched business practices that have been in place for decades is a major shift in the construction space. I anticipate that several more major construction and engineering and surveying firms will now follow in the path of these early adopters.”

We like the fact that ProStar is a highly scalable technology play which is directly exposed to the requirements for new data and tools in the construction and civil engineering space. Importantly, the company already has a sizeable client base and is being recognised in the US as the solution to many of the underground operational risks facing construction firms. Its data will just become more valuable and we also anticipate further international roll out of the company’s services beyond its immediate US market.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Stuart Fieldhouse

Stuart Fieldhouse

Stuart Fieldhouse has spent 25 years in journalism and marketing, including as a wealth management editor for the Financial Times group, covering capital markets and international private banking, and as an investment banking correspondent for Euromoney in Hong Kong. He was the founder editor of The Hedge Fund Journal.

Stuart has worked at CMC Markets, supporting the re-launch of its global financial spread betting and CFD trading platforms. He is also the author of two books on trading, published by Financial Times Pearson. Based in The Armchair Trader’s London office, Stuart continues to advise fund managers, private banks, family offices and other financial institutions.

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