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TWST: May we start with a brief overview of your company?
Mr. de Fusco: Sabeus was founded in 1998 and received its first round of funding
in 2000 from venture capitalists in California to produce fiber optic
components. Over the last five years, we've grown from making optical components
for the telecom industry, to producing complete acoustic sensor systems for the
military as well as sensor systems for the oil and gas industry. The oilfield
sensors are designed to be installed inside oil wells and provide real time
pressure and temperature data for reservoir management. In reservoir management,
downhole data is used to compute optimization models for the injection of steam,
water and C02 that push hydrocarbons to the surface. Sabeus grew from being a
provider of specialized optical components into a systems business. TWST: Given the greater need for energy and the importance of homeland security,
how do you characterize the current state of your business?
Mr. de Fusco: There is certainly tremendous demand and we are growing. After
several years of development, we have been in field trials for about 18 months.
We are in an upswing and we are doing very well. We have key strategic customers
in each one of our market segments and I would say that we are one of the most
promising companies providing new technology for these applications.
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