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Underground mapping specialist ProStar (TSXV:MAPS/FRA:5D00) is not standing still this month: the precision mapping solutions specialist, which listed on the TSXV last month, has just integrated Bluetooth Low Energy technology into its flagship PointMan product. This will expand its Android and iOS compatibility and is the result of a development program with Apple and the major cable and pipe locate tool operators.

ProStar sells patented mapping software that is natively cloud and mobile – its solutions are designed to assist construction firms and engineering companies that need a more accurate picture of underground infrastructure, including pipelines and cabling. It addresses a need from every US state and beyond to reduce the disruption caused to utilities by engineering work.

Bluetooth Low Energy is a low power, wireless communications technology that lets smart devices communicate with each other. The latest release allows engineers to use PointMan to capture and record the location of utilities over much longer periods of time. Significantly, the new updates will mean that users will be able to connect their tools with Android devices, Apple iPhones and iPads.

This is a major step forward for the company’s technology as it continues to receive traction in the US and further afield. It retains what we see as a highly scalable business model, has zero debt and is continuing to expand its already impressive client list.

Listen to our podcast with ProStar CEO & President, Page Tucker

ProStar expands advisory board as it plans US expansion

ProStar also recently announced that Rob Martindale is joining its Technical Advisory Board. He is the program manager for utilities and railroads at the Colorado Department of Transportation and is also the rules policies and procedures administrator. He also serves as the technical council chair on utility mapping, GIS and data management for the American Association of State Highway Transportation Officials.

Joining Martindale on the advisory board is Rich Pevarski, the founder and CEO of Virginia Utility Protection Service (aka VA811) which provides one-call notification services in the state and is used by companies to notify local utilities of their intention to dig things up.

ProStar’s Technology Advisory Board provides integrated executive direction and guidance to identify and ensure that ProStar’s Solution remains a global leader in the industry and maintains industry data quality standards. Both these appointments are good indicators who the direction ProStar is taking when it comes to tapping external expertise.

The Armchair Trader added ProStar to its pick list on listing in January 2021. Since then the company has gone on to also list on the Frankfurt Stock Exchange. We like the fact that it is already considered a leading application in its field, not just in the US engineering industry but with companies in Europe and elsewhere.

The underground engineering market continues to be in direct need of ProStar’s data solutions: this is not a competitive market it is breaking into but one where there is a significant global demand as PointMan can help to avoid unnecessary strikes through pipes and cabling.

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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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