Luna Wins Contract for Mine Conveyor Belt Monitoring in South Africa
(ROANOKE, VA, September 21, 2023) – Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced fiber optic-based technology, won a large contract to provide heat detection monitoring of 40 kilometers of conveyor belt in 11 South African mines. Luna’s contract is with a leading South African provider of risk-management solutions that is providing services to the operator of the mines.
To ensure the safety of their employees and protect their assets, Luna Innovations LIOSTM fiber optic cable and heat detection system was selected to provide a fast and reliable monitoring system. The LIOS DE.TECT linear heat detection system can monitor up to 10 km of conveyor belt and provides fast and accurate information about overheating before a fire develops.
Conveyor belt issues are the leading source of fires and operational disturbances in the mining industry. Belt rollers experience wear and tear over time, which can lead to overheating. Proactive detection of defective rollers and conveyor systems enables preventative maintenance that can help avoid potential hazards.
“We are very pleased to be announcing another step forward for safety systems utilizing our fiber optic sensing technology,” said Scott Graeff, President and CEO of Luna. “The applications for fiber optic sensors are nearly limitless and this is another great example of how our solutions are helping our customers create safer, more efficient workplaces. We are happy to add this application in the mining sector to our over 2500 permanent installations of the LIOS sensing platform.”
The LIOS DE.TECT linear heat detection system continuously measures temperature with a resolution of 1°C or better and provides a response time of 4 seconds or less. In the event of a conveyor belt fire, the DE.TECT system provides immediate, location-specific information about the size of the fire and how it is spreading so efficient fire suppression can be deployed.
Luna Innovations Incorporated (www.lunainc.com) is a leader in optical technology, providing unique capabilities in high-performance, fiber optic-based, test products for the telecommunications industry and distributed fiber optic-based sensing for a multitude of industries. Luna’s business model is designed to accelerate the process of bringing new and innovative technologies to market.
The statements in this release that are not historical facts constitute “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These statements include Luna’s expectations regarding technological capabilities, industry trends, market opportunities, customer relationship and operational efficacy related to its technology and/or products. Management cautions the reader that these forward-looking statements are only predictions and are subject to a number of both known and unknown risks and uncertainties, and actual results, performance, and/or achievements of Luna may differ materially from the future results, performance, and/or achievements expressed or implied by these forward-looking statements as a result of a number of factors. These factors include, without limitation, changes in market needs and technological challenges, competitive forces and other risks and uncertainties set forth in Luna’s periodic reports and other filings with the Securities and Exchange Commission (“SEC”). Such filings are available on the SEC’s website at www.sec.gov and on Luna’s website at www.lunainc.com. The statements made in this release are based on information available to Luna as of the date of this release and Luna undertakes no obligation to update any of the forward-looking statements after the date of this release.
Luna Innovations Incorporated
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