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Reel Smart Spill Buster self-contained groundwater remediation system for environmental engineering firms There are currently no reviews for this Innovation.
| Reel Smart Spill Buster
self-contained groundwater remediation system for environmental engineering firms |
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The Reel Smart Spill Buster is a cost-effective, self-contained, groundwater remediation system for use by environmental firms to remove free phase pollution from acquifers. |
 Annual Sales Forecast for USA * | Innovation Status |
Idea |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
Development
Status |
Proprietary
Protection Status |
Concept
Score |
| Ultra Low |
$1 |
$110,000 |
$1.5 M |
1 of 5
In Development
|
3 of 5
Tactical Protection
|
33 29 is
Average
|
| Low Support |
$1.6 M |
$6.3 M |
$18.1 M |
| Medium Support |
$12.9 M |
$46.6 M |
$116.7 M |
| High Support |
$34.7 M |
$126.0 M |
$314.3 M |
Remaining Time & Cost to First Sale |
| Ultra High |
$68.2 M |
$240.0 M |
$588.0 M |
6 mos-1 yr
|
$10k-$100k
|
Reel Smart Spill Buster
- self-contained groundwater remediation system for environmental engineering firms
Final Decision Maker: major oil companies, environmental consulting firms, land developers
We've been making groundwater remediation equipment since 1991. Our systems employ a technology unique in the field that pumps spilled waste products off of the underground water table without also pumping any of the water itself. This allows the water to be treated where it is- "in situ"- and preserves it as an available resource. Our sytems operate automatically, requiring minimal supervision and maintenance. They operate very efficiently, only pumping when contaminant has accumulated; they can run on solar power in remote locations without a power source. Unlike most remediation systems currently in use, our systems are small in size and therefore low profile. They also operate virtually soundlessly. This makes them an ideal choice when remediation must be done in populated areas. The systems are simple to install because they are modular. Our current system consists of a control panel and an automated reel that is mounted on the well head. The down-well probe, with its sensors and pump, are wound around the reel. The control panel controls the raising and lowering of the probe by communicating with the reel through a set of cables. Usually it is possible to mount the control panel about 30 feet from the well. However, sometimes the control panels must be situated much farther away if the power source is limited to a more distant position. On some sites, a potentially explosive atmosphere prohibits placing the control panels nearby. The cost of the long cables then required to connect the control panel to the automated reel can become prohibitive. This is especially so on large sites where several systems are needed. We propose to design and build an alternative to our current system that will contain the control panel's functions within an explosion proof casing on the automated reel. This will eliminate a significant cost factor for customers who require multiple systems for their remediation project or have distant power sources. The ease of installation will be even greater, with the system reduced to a single module. A single operator will be able to perform tests and maintenance, greatly improving efficient maintenance and controlling costs.
| $7,000 for one system | Seeking: Investment, Distribution |
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* Consumption sales forecast. Does not include "Random" events or "Inventory Fill". Forecast is for Year 1 for Large or Year 2 for Small Companies.
Forecast should be read as ..."With Low marketing support there is an 80% odds of achieving sales of at least... |
| Listing #: USA.76.022409.010 |
Page 1 of 5 |
Date Posted: 2009-03-17 |
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| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
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Report Assumptions and Inventor(s) Commentary
|
|
| Inventor(s) Assumptions |
"Most Likely"
Estimate |
Confidence |
Inventor(s) Commentary
Data Source or Basis for Assumptions |
| # of Possible Final Decision Makers |
25,000 |
40% |
The possible customer base is the same as the one we've been marketing to for our current product.
|
| Revenue per First Purchase |
$14,000.00 |
60% |
Sales history of our current products. |
| % that will Repeat |
N/A |
N/A |
|
| Number of Annual Repeats |
N/A |
N/A |
|
| Revenue per Repeat Purchase |
N/A |
N/A |
|
| Reseller (Trade) Margin |
N/A |
N/A |
|
| Producer Profit (EBITD) |
35% |
50% |
Estimate is based on profit margins for our current products. |
| |
| Innovation Status |
|
Development
Status |
1 of 5
In Development
|
We're looking to combine our current dual module product into a single entity. The technology is complete; we need to develop the best way to re-package it. |
| Cost to First Sale (remaining) |
$10k-$100k |
60% |
Since the tecnology is fully developed, cost will be focused on prototype material costs and obtaining required certifications. |
| Time to First Sale (remaining) |
6 mos-1 yr |
50% |
Since the technology is fully developed, time will be focused on design and prototyping of packaging controls in reel casing and obtaining required certifications. |
| Confidence in Concept Claims made in description |
60% |
The technology is fully developed in our current product. The task of relocating the control functions is very achievable. |
Proprietary
Protection Status |
3 of 5
Tactical Protection
|
Current patent expires in 2010. We're considering updating it to include the single modual design. |
| Concept Score & Diagnostics |
|
|
| Concept Diagnostics |
Red |
Yellow |
Green |
| Percentile Group |
Bottom 40% |
Middle 40% |
Top 20% |
| Overt Benefit |
|
 |
|
| Reason to Believe |
 |
|
|
| Dramatic Difference |
|
|
|
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| Listing #: USA.76.022409.010 |
Page 2 of 5 |
Date Posted: 2009-03-17 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
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Inventor Commentary & Alternative Development Scenarios
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|
| Inventor(s) Sales Goals |
| Minimum Goal |
$0.4 M |
Current GOAL |
$0.7 M |
This photo shows our current system. With the development of the Reel Smart Spill Buster we would eliminate the need for the separate control panel and the attendant cables. |
Inventor(s) Commentary:
Our current product, employing the same unique technology that we will build into the Reel Smart Spill Buster, is included on the EPA's District One Innovative Technologies Registry. |
|
CURRENT SALES FORECAST |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$1 |
$110,000 |
$1.5 M |
| Low Support |
$1.6 M |
$6.3 M |
$18.1 M |
| Medium Support |
$12.9 M |
$46.6 M |
$116.7 M |
| High Support |
$34.7 M |
$126.0 M |
$314.3 M |
| Ultra High |
$68.2 M |
$240.0 M |
$588.0 M |
If MARKETING CONCEPT Improved (Increase Concept Score by +20 Points) |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$2 |
$190,000 |
$2.4 M |
| Low Support |
$2.7 M |
$10.4 M |
$29.3 M |
| Medium Support |
$21.7 M |
$77.4 M |
$187.4 M |
| High Support |
$58.4 M |
$208.9 M |
$515.7 M |
| Ultra High |
$115.8 M |
$391.4 M |
$945.6 M |
If MARKETING CONCEPT and PRODUCT/SERVICE Improved (Increase Concept +20 Points, Repeat Rate & Number of repeats by 30% and Revenue per purchase 20%) |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$2 |
$180,000 |
$2.5 M |
| Low Support |
$2.6 M |
$10.4 M |
$29.2 M |
| Medium Support |
$21.8 M |
$77.8 M |
$187.3 M |
| High Support |
$58.8 M |
$210.1 M |
$504.7 M |
| Ultra High |
$115.4 M |
$400.6 M |
$940.7 M |
|
| Listing #: USA.76.022409.010 |
Page 3 of 5 |
Date Posted: 2009-03-17 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
Additional Details
|
|
| Fair Market Royalty (%) |
| |
Conservative - 80% Odds
Royalty Percentage |
Most Likely - 50% Odds
Royalty Percentage |
Aggressive - 20% Odds
Royalty Percentage |
| At CURRENT State & Status |
2.8% |
4.2% |
5.7% |
Sales & Marketing
Support Level |
Annual Inventor Royalty Revenue |
3 Year Value
to Inventor
If 50% Odds |
| 80% Odds |
50% Odds |
20% Odds |
| Ultra Low Support |
$6,900 |
$20,000 |
$39,000 |
$59,000 |
| Low Support |
$130,000 |
$320,000 |
$590,000 |
$950,000 |
| Medium Support |
$890,000 |
$2.2 M |
$3.9 M |
$6.5 M |
| High Support |
$2.5 M |
$5.9 M |
$10.8 M |
$17.6 M |
| Ultra High Support |
$4.6 M |
$10.9 M |
$19.8 M |
$32.8 M |
| Sales & Marketing Support Level Assumptions |
| Sales & Marketing Support Level Assumptions |
Sample Numbers |
% Aware x
% Distribution
(Aware & Able) |
Inventor
Confidence |
| % Distribution |
% Awareness |
| Ultra Low Support (Word of Mouth) |
5% |
3% |
0.2% |
N/A |
| Low Support (Small Company) |
20% |
10% |
2% |
% |
| Medium Support (Medium Sized Company) |
50% |
25% |
13% |
N/A |
| High Support (Large Company) |
75% |
45% |
34% |
N/A |
| Ultra High Support (Mega or Niche) |
90% |
70% |
63% |
N/A |
|
Graph of EQUIVALENT (Awareness x Distribution) Combinations
 |
NAICS Industry Codes
For This Invention |
| 33451 - Navigational, Measuring, Electromedical, and Cont... |
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| Patent Numbers that apply to this Product/Service |
| 5224837 |
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| Inventor(s) PEDIGREE |
| Years EXPERIENCE in related industry |
20 |
| GRANTED Patents |
3 |
| Licensing Deals SIGNED |
0 |
| Innovations that have SHIPPED |
18 |
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For USA Patents: Utility Patent = 7 digit number, Design Patent starts with D, Planet Patent starts with PP. Provisional Application "61/xxx,xxx", Non provisional application "12/xxx,xxx", Design patent application "29/xxx,xxx"
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CAUTION: This Merwyn Business Simulation Research Report includes no warranty or guarantee. Results and opinions should be considered rough and directional in nature. This is because the report is based upon inventor-supplied data and simplified modeling methods. If you are looking to invest, distribute, purchase or become involved with this innovation, in any way, we strongly urge you to validate the inventor data and sales forecasts BEFORE committing yourself or your resources. Merwyn Research, Inc. shall not be responsible for any liability or damages arising out of the failure to perform such investigation and validation. Changes in the concept description, product, pricing, or input assumptions will almost certainly change results.
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| Listing #: USA.76.022409.010 |
Page 4 of 5 |
Date Posted: 2009-03-17 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
|
Additional Forecasts for Other Countries
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 Annual Sales - Probability Forecast - Canada |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$18,000 |
$240,000 |
| Low Support |
$250,000 |
$990,000 |
$2.9 M |
| Medium Support |
$2.0 M |
$7.4 M |
$18.5 M |
| High Support |
$5.5 M |
$20.0 M |
$49.8 M |
| Ultra High |
$10.8 M |
$38.0 M |
$93.2 M |
 Annual Sales - Probability Forecast - United Kingdom |
Sales & Marketing
Support Level |
Conservative
80% odds
of selling |
Most Likely
50% odds
of selling |
Aggressive
20% odds
of selling |
| Ultra Low |
$0 |
$31,000 |
$420,000 |
| Low Support |
$440,000 |
$1.8 M |
$5.1 M |
| Medium Support |
$3.6 M |
$13.1 M |
$32.8 M |
| High Support |
$9.8 M |
$35.4 M |
$88.4 M |
| Ultra High |
$19.2 M |
$67.5 M |
$165.4 M |
Forecast are calculated based on population, (PPP) purchasing power parity, International Trade, Urbanization and the Human Growth Index.
Forecast can be skewed for some industries, so for best results, adjusting the number of final decision makers for every country is recommended.
| Listing #: USA.76.022409.010 |
Page 5 of 5 |
Date Posted: 2009-03-17 |
| ©2008. Eureka! Institute. All Rights Reserved. Patents Granted or Pending Eureka! Ranch International www.EurekaRanch.com (513) 271-9911 |
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