Frost & Sullivan Recognizes Eddyfi with the 2014 Global Nondestructive Test Equipment Emerging Company of the Year Award
- The company is leading a paradigm shift in the nondestructive testing market by developing high-performance, cost-effective products using the eddy current array technology.
MOUNTAIN VIEW, California, Feb. 26, 2014 /PRNewswire/ -- Based on its recent analysis of the nondestructive test (NDT) equipment market, Frost & Sullivan recognizes Eddyfi with the 2014 Global Frost & Sullivan Award for Emerging Company of the Year. The company has experienced remarkable success by addressing an unmet need for customized products for applications rather than simply offering generic products that worked well only in certain applications.
In four years, Eddyfi has grown from a five-employee start-up to a 80-employee company by expanding its application scope beyond the surface inspections application segment for the power generation industry. Eddyfi is now also active in the steam generator segment and in many industries, including oil & gas – for both surface and tubing applications – mining, and aerospace.
The company invests 20 to 25 percent of its revenue in research and development, and dedicates approximately 40 percent of its staff to new product development. Over the past year, several distinct products that potentially redefine industry standards have been launched or are in the process of being finalized. The first is a new line of surface eddy current array probes that are not only physically flexible, providing adaptability to complex geometries, but also have multiple built-in modes offering flexibility in defect detection. The second is the DefHi probe, a line of high-definition multiplexed array probes for tubing applications. Other key products are solutions designed to solve complex challenges associated with ferrous materials: eddy current array probes for carbon steel welds and specialized tubing probes for air coolers are certainly good examples.
Eddyfi's application-based solutions enhance customer productivity by fulfilling customers' unaddressed needs. It employs a number of application engineers to offer technical support to customers. It opened offices in Lyon, France in September 2012 and will be in Houston, Texas, in the United States early 2014 to not only provide local technical support to customers, but also act as application centers that define Eddyfi's future product development strategies.
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in devising a strong growth strategy and robustly implementing it. The recipient has shown strength in terms of innovation in products and technologies, leadership in customer value, as well as speed in response to market needs. In short, the award looks at the emerging market players in the industry and recognizes their best practices that are positioned for future growth excellence.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About Eddyfi
Eddyfi is the most dynamic company in the field of non-destructive testing (NDT) equipment. It employs the world's most renowned experts in the field of advanced eddy current testing. Eddyfi focuses on providing complete high-end solutions for the inspection of critical components in several major industries including nuclear, power generation, oil and gas, and aerospace. The company develops the industry's best performing and most reliable test instruments, surface and tube probes, and acquisition and analysis software. Eddyfi has the expertise, engineering, and manufacturing flexibility to supply fully-integrated and specially-made solutions that make customers safer, more efficient and more profitable.
About Frost & Sullivan
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Contact:
Mireya Espinoza
P: +1.210. 247.3870
F: +1.210.348.1003
E: mireya.espinoza@frost.com
Louis Beaulieu-Charbonneau
E: lbeaulieu-charbonneau@eddyfi.com
SOURCE Frost & Sullivan
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