FLIR Systems Introduces New Infrared Camera for Detection of Volatile Organic Compounds
GasFindIR(TM) Helps Improve Safety at Petrochemical Refining,Transportation and Storage Facilities
PORTLAND, OR, Jun 08, 2005 (MARKET WIRE via COMTEX) — FLIR Systems, Inc. (NASDAQ: FLIR), the global leader in infrared cameras, announced today the introduction of its new GasFindIR(TM) infrared (IR) camera. GasFindIR is the first commercially viable infrared camera capable of detecting volatile organic compound (VOC) gas emissions. Sources of VOCs include petrochemical facilities, natural gas pipelines, transfer stations, tankers, railway cars and even landfills emitting methane gas and other toxic chemicals into the environment.
Often referred to as “fugitive gas emissions,” VOC gases are a major contributor to global warming. In addition, these emissions cost industry millions of dollars in lost product and in regulatory fines. They also pose safety risks to workers and civilians. A truly revolutionary product, GasFindIR makes what was once invisible, visible, in order that the leakage can be easily identified and stopped. A typical refinery can have up to 500,000 points that currently have to be checked manually with a “sniffer” placed directly on the leak, which is an expensive and time consuming process.
“We are in the process of writing new regulations to take advantage of this new infrared camera,” said David Markwordt, of the Environmental Protection Agency’s Emissions Standards Division while presenting at the recent annual Fugitive Emissions conference. “It’s a remarkable new technology.”
FLIR intends to begin shipments of GasFindiIR this month. “This is a remarkable product. It helps reduce cost and protect our environment. It is another example of FLIR’s ability to commercialize infrared technology in order to solve unique problems,” said Earl Lewis, President and Chief Executive Officer of FLIR Systems, Inc.
About FLIR Systems:
FLIR Systems designs, manufactures and markets infrared imaging systems worldwide for a variety of applications. FLIR’s imaging products are used in such diverse applications as public safety, defense, navigation, electronic newsgathering and search and rescue. Thermography products support such applications as condition monitoring, non-destructive testing, medical science, research and development, and manufacturing process control. For more information, please visit their Web site at www.flir.com.
This release contains forward-looking statements, including the Company’s expectations for sales and deliveries of GasFindIR(TM) cameras, and the potential market size. These statements are based on current expectations, estimates and projections about the Company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including the following: the availability of funding under the contract, the continuing ability to penetrate new market applications , the availability and timing of federal appropriated funds for procurement of thermal imaging systems, the Company’s continuing eligibility to contract with the Federal Government, the Company’s continued compliance with US export control laws, additional competition, the Company’s ability to win larger delivery contracts, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, actual purchases under existing purchase agreements and other risks discussed from time to time in the Company’s Securities and Exchange Commission filings and reports, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2004. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update such statements after the date of this release.
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FLIR Systems, Inc.
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