Successful businesses don’t always start out with a rock-solid plan. Even if they do, it’s hard to anticipate what’s ahead for a rapidly changing and uncertain business environment. Pilot Partners has the expertise to help businesses navigate their evolution and growth, to ensure their current and future objectives are realised with optimal outcomes.
Plotlogic’s mission is to generate value and efficiency in the mining industry by implementing real-time, autonomous, non-invasive and highly accurate raw material characterisation systems.
Through use of its technology, Plotlogic is helping the coal industry be more sustainable, the iron ore industry improve compliance to plan, and the gold industry improve the accuracy of ore-waste boundary mapping.
Plotlogic initially became a client of Pilot Partners when founder and CEO, Andrew Job, was seeking an advisor who could provide broad taxation and business advice as his start-up company rapidly grew.
Managing that relationship was Josh Meggs, an Associate Director at Pilot.
“Josh provided advice on the business structure and recommended some changes to ensure I was appropriately structured for future events including the need to raise capital and for an exit event down the track,” said Andrew. “Once I was appropriately structured he was able to focus on meeting with me quarterly and advising on the Research and Development (R&D) Tax Incentive in relation to the R&D activities we undertook.”
Business Solutions from Pilot
Since the initial advice, Plotlogic has registered patents, completed the development of prototypes and undertaken field trials. The company also partnered with a US venture capital firm. During this time, Pilot has provided advice and strategic direction to Andrew and his team.
As development of the first prototype concluded and field trials commenced, Josh introduced Andrew to Adam Trew, a Business Advisory manager at Pilot. “Adam takes our financial information each month and provides a management reporting pack which is used both by the team here and our venture capital investors in the United States,” said Andrew. “As a start-up company undertaking extensive R&D activities, having information about our cash flow, cash burn and runway in an easy-to-read report each month is incredibly important.”
“Watching Andrew undertake R&D activities and turn them into a successful prototype that is ready to rollout is extremely rewarding. It is great to be able to offer solutions to clients as their business grows and their needs change,” said Josh.
Plotlogic has just completed the first phase of its product development plan. Currently, the products are vehicle mounted, however, the next phase of development is to transition to mining shovel/conveyor belt/Unmanned Aerial Vehicle (UAV) mounted devices to gain further efficiencies for their customers.
The last phase of the development pipeline is to provide integrated control of an autonomous shovel, using hyperspectral imaging technology for real-time knowledge of the material, as mining occurs.
“Through our in-depth understanding of the Plotlogic business, we are well positioned to continue to contribute to Plotlogic’s future success and look forward to watching the company revolutionise the mining space with their technology,” said Josh Meggs.
Plotlogic founder and CEO, Andrew Job, expressed similar thoughts: “As Plotlogic plans for the future we are very excited about the technology we are developing and the journey we are on. We look forward to the guidance Pilot can provide to us as we navigate this journey.”
Plotlogic provides highly accurate ore characteristics in real time for mining applications, enabling greater recovery and reduced waste. Hyperspectral equipment characterises the raw materials allowing ore and waste boundaries to be mapped out with centimetre precision before mining occurs. As a result, excavator operators have a precise plan to follow with exact boundaries between high grade, low grade and waste zones in the working face. Following the excavation process, the knowledge provided by Plotlogic around ore quality feeds into logistics schedules, processing operations and wash plant configurations.
In April, Plotlogic won the Pitch Black competition (start-up category) of QODE Brisbane – Queensland’s largest innovation and technology gathering for entrepreneurs, investors, business executives, start-ups and government.
Andrew, said he was very proud to win this on behalf of the Plotlogic team. “We’re just kicking off, but it’s a fantastic endorsement from the Brisbane Tech community for our work.” According to the judges, Plotlogic will be a ‘game changer’ for the resource sector and applauded Andrew’s presentation.
Due to COVID-19 the expo was a virtual expo and streamed live to the QODE audience via YouTube.
To learn more about Plotlogic, visit their website.