Positron ready to market its product
Idaho Statesman
3/23/2006
Positron Systems Inc., a 5-year-old company whose patented technology can detect virtually invisible damage to aircraft wing parts and other metal, polymer, ceramic and composite objects, has hired a new chief operating officer, appointed a new chairman of the board, added a board member and moved its headquarters back to Boise.
Martin Hedley, the new chief executive officer, said the personnel changes reflect the evolution of the company from a research-oriented startup to an organization with a product ready to market.
Positron's product is the ability to detect structural flaws at the subatomic level -- far before they become visible or detectable by other means -- so they can be repaired or replaced before they lead to catastrophic failure.
The technology was developed at the Idaho National Laboratory and licensed to Positron as part of the INL's technology transfer program.
Hedley said his goal is to be cash-flow positive -- pay the bills with customer revenues -- within the year. Government research grants and private investors have supported the company up to now.
"The technology is out of the experimental phase. Now it's up to us to sell the company to customers," he said.
Positron already has contracts with Lockheed Martin, the National Science Foundation and NASA. Hedley said Positron now will target others in the aircraft industry -- Boeing, Airbus, Bombardier, Embraer, Cessna -- plus all branches of the armed forces.
Before joining Positron, Hedley ran Sharp Resources, a strategic consulting company. Prior to that he was a vice president at Citibank and a vice president at American Airlines.
T. Erik Oaas, currently a partner at Oaas-Laney LLC, has been appointed chairman of the board and is setting up a management structure to develop the company's technology for a broad market over the next five years.
The former chairman, Steve Bolen, remains on the board and is taking the management role of senior vice president -- corporate development. Bolen is an original co-founder of the company.
Admiral Archie Clemins, owner and president of Caribou Technologies Inc. and a member of Gov. Kempthorne's Science and Technology Advisory Council, has joined the board. Clemins, who retired from the U.S. Navy as a four-star commander in 1999, will provide significant insight into potential uses of the product in government and commercial markets, Hedley said.
Keith McClellan, who served as president for the past year, will leave the company and return to the East Coast for family reasons. "Keith has provided a sense of reason and strength in dealing with the relationships the company has and we truly appreciate his efforts. We look forward to Keith remaining in our service as a consultant working on East Coast based projects" said Bolen.
In a related move, the company will move corporate headquarters back to Boise to gain better access to the financial market and better access to air travel through the Boise Airport.
Positron originally had its headquarters in Boise, but in the summer of 2005 moved to Pocatello, where it operates a linear accelerator and shares resources with Idaho State University's Idaho Accelerator Center.
The current testing center in Pocatello will remain in place to become the focus of the product development and servicing organization.
Positron employs 10 people. About half will remain at the company's testing facility in Pocatello, while the others will move to Boise.
Hedley acknowledged what he called the "outstanding relationships and assistance that are provided by the Idaho Accelerator Center and the Idaho State University, Department of Physics." He said those relationships will be strengthened as the company grows.
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