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Innov-X Systems

innov-xsys.com

Founded Year

2001

Stage

Acquired | Acquired

Total Raised

$30.95M

About Innov-X Systems

Innov-X Systems designs & manufactures high perfomance x-ray fluoresence analyzers

Headquarters Location

100 Sylvan Street Suite 100

Woburn, Massachusetts, 01801,

United States

781-938-5005

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Innov-X Systems Patents

Innov-X Systems has filed 1 patent.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

12/20/2006

11/22/2011

Spectroscopy, Atomic physics, Sensors, Radiography, Plasma physics

Grant

Application Date

12/20/2006

Grant Date

11/22/2011

Title

Related Topics

Spectroscopy, Atomic physics, Sensors, Radiography, Plasma physics

Status

Grant

Latest Innov-X Systems News

Shift Recycling, GEEP Canada merge to Quantum Lifecycle Partners - Recycling Today

Sep 19, 2019

Shift Recycling, GEEP Canada merge to Quantum Lifecycle Partners The newly merged company is a vertically integrated electronics recycler and ITAD provider. The Canadian operations of Global Electric Electronic Processing Inc. (GEEP) Canada, Barrie, Ontario, and The Shift Group of Cos., consisting of Shift Recycling and Revolution, based in Toronto, have merged to form Quantum Lifecycle Partners. GEEP’s USA and Central American locations are not affected by this merger. The newly merged company is one of Canada’s most vertically integrated electronics recyclers and information technology asset disposition (ITAD) services providers, Quantum says in a news release announcing the merger. “I am excited to bring these two organizations together under one brand and one vision with two incredible shareholder groups,” says Gary Diamond, founder of Shift Recycling and president of Quantum Lifecycle Partners. “There are synergies we will unlock to create a sustainable company for all our stakeholders, especially our team members and customers.” The two companies will officially launch as Quantum Lifecycle Partners LP on Oct. 1. Initially, no changes in day-to-day operations will be experienced, but as Quantum begins to optimize operations, service offerings will expand for all our customers, Quantum says. Quantum Lifecycle includes eight facilities in four provinces and more than 400 employees. “The devices we recycle, refurbish and resell along with the [extended producer responsibility] laws under which we operate are becoming increasingly complex,” Diamond adds. “Quantum is well-positioned to tackle both of these challenges with a sustainable corporate structure and scale required to service customers from coast to coast.” Chicago-based Mid America Paper Recycling , one of the largest independent brokers, processors and exporters of recovered paper in the Central U.S., is launching an initiative focused on tracking and increasing the value of the recycling waste streams generated by large commercial printers and paperboard converters. “The folding carton industry, for example, shipped about 5 million tons of product last year,” says Paul Pirkle, president of Mid America Paper Recycling. “We work closely with these operators and all companies that recycle waste paper to create a continuous improvement process that helps them identify where waste is generated, establish key collection procedures, and set objectives that will continually improve their waste stream’s revenue contribution to the business.” According to Mid America executives, the manufacturing operations of a typical paper or containerboard plant can generate thousands of tons of preconsumer, high-grade recyclable paper, production trim waste and paperboard waste annually, which in turn, can generate significant revenues for the company. Mid America’s new recycling management program helps producers build a scorecard process by benchmarking, monitoring and continuously upgrading their recycling operations to help them reach their sustainability goals and grow the financial worth of their waste, Mid America Paper Recycling reports in a news release about the initiative. “No other company has offered as comprehensive and value-added a solution until now,” Pirkle adds. “We understand the challenges and shortcomings companies face in dealing with recycling vendors, equipment, labor and transportation issues. Recyclable materials can be wasted, which doesn’t meet anyone’s environmental goals or boost revenue. But they can also be a significant value-added contributor to the recycler’s profitability if professionally managed. We perform onsite customer assessments and reviews to help them learn how to effectively manage these materials and help them exceed their expectations.”  Online waste audit survey Mid America Paper Recycling Customers can launch the Waste Audit Survey on their smartphones via a QR code to take it immediately. The first step in Mid America Paper Recycling’s continuous improvement process is its new, free Waste Audit Survey . The survey takes 10 minutes for customers to fill out online, but it is also comprehensive ins cope. Customers can also launch the survey on their smartphones via a QR code to take it immediately. Serving as an initial “recycling health scorecard,” the survey results help Mid America Paper Recycling determine how each customer captures and recycles waste materials, as well as what’s working and what’s not. “The audit concept was based on an in-depth voice of customer study we conducted to better understand the challenges our customers face,” Pirkle says. “Continuous improvement is so important to organizations today in many other areas of their operations, so this audit was designed to bring this same strategic process to their current waste handling practices and build a smart program that continuously improves the worth of their waste.”  Responses to the survey questions are associated with a point scale and averaged into five categories to achieve a scale percentage. This determines an overall waste assessment grade for the customer’s “recycling health,” which the company uses to create an individual recycling plan that maximizes facility efficiency, safety, and updates employee training procedures. The audit taxonomy assesses areas, including:  ● current operating procedures; ● safety, preventative maintenance programs in place. The customer “scorecard” is just the beginning of the quality initiative. After taking the survey, Mid America Paper Recycling’s team of experts then develops a custom plan to improve such aspects as the flow of waste through a customer’s facilities, eliminate cost streams, conserve and capture the most value possible. The customer receives a free report, and a plan tailored to upgrade their recycling processes and increase revenue growth. Next, Mid America Paper Recycling proceeds with follow-up conversations, onsite visits, mill assessments to match the best one to each paper grade, quarterly reviews on flow reports, rates, payments, recycling values and logistics coordination. Progress in terms of revenues and environmental impacts are also tracked every step of the way, and the data is fed throughout the customer’s operation through regular management reports. “We find every angle available to minimize waste and maximize returns, support customers by optimizing services and improve training, safety and value, with the visibility and transparency the operation needs,” Pirkle says. “Our vision is to become a significant value-added contributor to the paper converter’s waste generation profitability.”     Growing global demand for batteries is also reflected in business prospects for the battery recyclers. Their expectations have been highlighted in a recent survey of participants at the International Congress for Battery Recycling ( ICBR ) 2019, Sept. 18-19 in Lyon, France. ICBR is an international platform presenting the latest developments and discussing the challenges faced by the battery recycling industry. According to the survey, 58 percent of respondents expect general economic conditions for the battery recycling industry to improve over the next two years. One in four expects business to remain at a stable level. Eighteen percent of respondents expect business to slow down. The results in assessing current volume trends points to future growth: 68 percent say volumes are currently developing positively 78 percent predict that volumes will grow over the next two years 22 percent expect volumes to develop at a stable pace These results are based on a survey conducted by the ICBR Steering Committee. The results are summarized in the "Industry Barometer ICBR 2019,” which was published for the third time at this year's conference. The results provide a meaningful insight into current opinions prevailing in the sector, according to a news release from ICBR. As part of the survey, participants were asked to assess the current business in terms of volume and profitability: 50 percent rate current business as good 34 percent see no change compared to the previous year 16 percent are not satisfied with the current business situation When asked about the factors influencing business performance, respondents referred to the growing market for battery applications. The quantity of scrap batteries handled by sorting, dismantling or recycling facilities “is growing and is likely to continue to grow.” At the same time, the “downward pressure on profitability also appears to be increasing.” Factors highlighted in the survey include fluctuations in the price of active materials recovered from batteries, based on prices quoted on the London Metal Exchange (LME). An additional challenge is seen as the financing of battery returns. Some sector representatives expect the composition of batteries to continue to change, influencing the cost of collecting, transporting and recycling materials. Another issue for the sector is the different legal frameworks that apply from country to country. This aspect is not only relevant in terms of battery recycling, but also to the harmonization of definitions and objectives between the European Union's Battery Directive, the Waste Framework Directive and the Waste Electrical and Electronic Equipment Directive. It is also seen as a challenge to raise awareness that the collection of consumer batteries, as small industrial batteries, produces the desired results. “The battery recycling industry is highly motivated to entering a circular economy policy as recommended by European authorities,” says Jean-Pol Wiaux, chairman of ICBR's steering committee. “Such a motivation is supported by the significant market development of mobile electrical power sources. The impact of recycling on the supply of active materials for batteries may become significant when such a policy is efficiently implemented and when the economic context remains favorable.” Wiaux adds, “The success of a transition from a linear approach to a circular economy requires improvements at the level of coherence and harmonization within the European legislative and regulatory frameworks impacting the battery recycling industry. The market development of electrical energy sources is a global issue as well as the battery recycling business. Experiences gained in European Union could be adapted in many other countries where the implementation of a national legislative framework would create a level playing field between economic actors for the efficient collection and recycling of batteries.” Containerboard and boxboard production rates both decreased in August compared with the same month last year, the American Forest & Paper Association (AF&PA), Washington, states in its latest monthly reports. AF&PA released the August 2019 Containerboard Monthly Report on Sept. 17. According to AF&PA, containerboard production in August decreased 2.4 percent compared with August 2018 and was down 4.9 percent year to date, AF&PA reports. However, the average daily production compared with July 2019 was 3.2 percent higher. Also, containerboard operating rates increased from 89.9 percent in July to 92.8 percent in August, which is the highest rate so far this year. AF&PA reports that total linerboard operating rates increased to 91.6 percent in August, going above 90 percent for only the third time this year. Yet August’s total operating rate was 4.6 points lower than the same month last year, and the year-to-date operating rate was down 6.3 points. Production for export, most of which is linerboard, was down 12.2 percent month over month and was down 17.7 percent year to date, AF&PA reports. Boxboard production rates AF&PA also released its August 2019 U.S. Boxboard Report. Total boxboard monthly production decreased 1.0 percent compared with August 2018. The total boxboard operating rate was 94.1 percent for August, AF&PA reports in a news release. The association reports that total solid bleached boxboard and liner production decreased 0.4 percent year to date; recycled boxboard production fell 1.0 percent year to date; and unbleached Kraft and gypsum production decreased 0.5 percent year to date. Printing-writing paper shipments According to AF&PA’s 2019 Printing-Writing Monthly Report in August, total printing-writing paper shipments decreased 14 percent in August compared with August 2018. U.S. purchases of total printing-writing papers declined 13 percent in August compared with the same month last year. Total printing-writing paper inventory levels remained flat compared with July 2019, AF&PA reports. Complete reports with detailed tables, charts and historical data can be purchased by contacting Kory Bockman at Statistics_Publications@afandpa.org or 202-463-4716. SciAps Inc. , a Woburn, Massachusetts-based company that has helped lead the development of hand-held metal analyzers used in the scrap metal industry, says it has developed the world’s first hand-held analyzer capable of measuring carbon content in steel. Don Sackett, chief executive officer and co-founder, started the company in 2013 with a goal to develop  LIBS  (laser-induced breakdown spectroscopy) technology, which uses a laser to identify and measure elemental concentrations in metal. Sackett says the scrap industry primarily uses LIBS for aluminum alloy sorting, but there’s an increasing interest to use LIBS analyzers to measure what he calls contaminant elements, including lithium, in aluminum scrap and carbon content in steel. “The mills are getting tougher and tougher on contaminant elements,” Sackett says. “The mills will pay scrap processors more if they can guarantee that certain contaminant levels are lower than a certain amount. There’s an increasing interest in measuring those elements whereas five years ago nobody cared.” Early adopters of SciAps’ LIBS hand-held analyzer include Holland, Michigan-based Padnos and Kripke Enterprises Inc., Toledo, Ohio. “In the steel industry, there’s a ton of users of carbon steel and stainless steel that really care about carbon content,” Sackett says. “It’s been a really big breakthrough for us to measure carbon with LIBS.” He adds that more scrap processors might adopt LIBS technology if they see a return on investment, including more dollars per pound for separated carbon steels. “I think there’s money to be made if you’re processing ferrous material and separating by carbon content. It’s almost more of an education effort than a technology effort,” Sackett says. “The LIBS device is not as simple and requires more advanced training. I’d like to see the scrap industry look at carbon steels and sorting them based on carbon content.” Sackett, who worked at his grandfather’s scrap metal company in the summers as a teenager, began his career at Niton, which developed the industry's first hand-held X-ray fluorescence ( XRF ) analyzer for scrap metal sorting. “When we first started doing this, very few scrap yards used these hand-held analyzers,” he says. “Now you can go into some of the smallest recycling yards with five to six people and they’ll have a hand-held XRF to sort the metal. The industry in the last 10 to 15 years has adopted the hand-held sorters. It’s almost like they need that as much as a forklift or a baler. It’s really become standard equipment at scrap yards.” After nine years with Niton, Sackett co-founded Innov-X Systems in 2001, which he says developed the first XRF analyzer with an X-ray tube instead of a radioactive source. Niton was acquired by Thermo Fisher Scientific, Waltham, Massachusetts, in 2005, and Innov-X was acquired by Olympus, the United States-based subsidiary of Tokyo-based Olympus Corp., in 2010. “Many of the people who created SciAps were the founders and employees at Niton and Innov-X,” Sackett says. “You might not know the name SciAps, but you certainly know the people behind it.” The key to sorting the many aluminum alloys is measuring the low concentration of magnesium and silicon quickly and precisely. When SciAps developed its XRF analyzer, Sackett says the company focused on improving detection of silicon and magnesium. SciAps XRF can measure as low as 0.25 percent in one second in aluminum alloys. “Those are really important elements for aluminum alloy sorting,” Sackett says. “We’ve been doing this for 20 years and we knew that aluminum alloy testing was a weak spot for the X-ray analyzer.” SciAps worked on its laser-based LIBS analyzer for four years. A common misconception is the LIBS is a replacement to the XRF, which is easier, faster to use and more precise, Sackett says. He recommends using the LIBS in niche applications, including to measure carbon, boron, beryllium and lithium, which are elements the XRF can’t measure. SciAps sold 600 LIBS devices in the past two years, Sackett says. In six years, SciAps has grown from a handful of founding employees to 125 people working in research, development and sales. The company has built a global business as a developer, manufacturer and supplier of XRF to sort stainless steel, red metals and aluminum alloys and LIBS hand-held analyzers to measure carbon content and other containment elements. Sackett says the company’s biggest markets are the U.S., China and Europe. “We started from ground zero,” Sackett says. “We’ve been doubling our scrap business every year in terms of sales of our analyzers. We’re still a small percentage of the total market. People are just starting to really learn about us.” Sackett says SciAps will continue to work to make the XRF “smaller, faster and lighter” as well as to improve its capability to measure levels of various metals, including lead and nickel. “The mills will pay more if the concentration of these residual elements is guaranteed to be low in the metal,” Sackett says. “We’re trying to make analyzers that will allow them to sell to mills at higher prices. It benefits everybody. The mills get better materials, the scrap dealers get paid more and they’re more likely to invest in this improved technology.”

Innov-X Systems Frequently Asked Questions (FAQ)

  • When was Innov-X Systems founded?

    Innov-X Systems was founded in 2001.

  • Where is Innov-X Systems's headquarters?

    Innov-X Systems's headquarters is located at 100 Sylvan Street, Woburn.

  • What is Innov-X Systems's latest funding round?

    Innov-X Systems's latest funding round is Acquired.

  • How much did Innov-X Systems raise?

    Innov-X Systems raised a total of $30.95M.

  • Who are the investors of Innov-X Systems?

    Investors of Innov-X Systems include Olympus NDT, Rand Capital, CEI Ventures, Summit Partners and Coastal Ventures.

  • Who are Innov-X Systems's competitors?

    Competitors of Innov-X Systems include Zonare Medical Systems, Scint-X, IntElect Medical, SpineAlign Medical, i-Nalysis and 12 more.

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