Frost & Sullivan Recognizes Eddyfi with the 2014 Global Nondestructive Test Equipment Emerging Company of the Year Award

Frost & Sullivan Recognizes Eddyfi withFrost & Sullivan Recognizes Eddyfi with the 2014 Global Nondestructive Test Equipment Emerging Company of the Year Award PR Newswire MOUNTAIN VIEW, California, Feb. 26, 2014 - The company is leading a paradigm shift in the nondestructive testing market by developing high-performance, cost-effective products using the eddy current array technology. Based on its recent analysis of the nondestructive test (NDT) equipment market, Frost & Sullivan recognizes Eddyfi with the 2014 Global Frost & Sullivan Award for Emerging Company of the Year. The company has experienced remarkable success by addressing an unmet need for customized products for applications rather than simply offering generic products that worked well only in certain applications. In four years, Eddyfi has grown from a five-employee start-up to a 80- employee company by expanding its application scope beyond the surface inspections application segment for the power generation industry. Eddyfi is now also active in the steam generator segment and in many industries, including oil & gas – for both surface and tubing applications – mining, and aerospace. The company invests 20 to 25 percent of its revenue in research and development, and dedicates approximately 40 percent of its staff to new product development. Over the past year, several distinct products that potentially redefine industry standards have been launched or are in the process of being finalized.