Titan Logix Corp.
Titan Logix Corp. (Titan) is a high-technology company specializing in research and development (R&D), manufacturing and marketing of advanced technology fluid management solutions, particularly for use in mobile tanker applications. The company's Guided Wave Radar (GWR) solutions are currently used in the oil and gas, waste collection and aviation industries. These technologies and their derivatives under development are applicable to a variety of additional markets that Titan plans to expand into at the appropriate time.
A common practice in many of these markets is the use of manual methods for measurement and control. However, due to safety considerations, the rising cost of many fluids, awareness and concerns about the environment and technological advancements enabling better operational efficiencies, Titan is experiencing an increased demand for its advanced technology products. The company anticipates this demand will continue as it pursues expansion into other markets.
The products Titan manufactures are part of a complete asset management solution. The full solution consists of its own market-leading products integrated with best-in-class third-party solutions to enable customers to benefit from complete fluid management, throughout each stage of their fluid handling processes. This is captured by Titan’s slogan: “Advanced technology fluid management solutions, in the field, on the road, in the office.”
A closer look at this slogan reveals the comprehensive services Titan provides. “In the field” refers to Titan's solution offerings for storage tanks and process vessels. “On the road” refers to Titan's solution offerings for mobile tanker trucks and trailers. “In the office” refers to Titan's solution offerings that enable customers to monitor their fluid assets from the convenience of their dispatch centre or other back office environment through a wired or wireless connection.
Mining for New Markets
Titan was originally founded in 1979 as Marilyn Gold Mines Inc., a mining construction company, but when markets shifted away from mineral exploration Titan shifted as well, turning its focus toward the development of technologies for the oil and gas, chemical and transportation market sectors. The, design, engineering, manufacture, sales and support of all Titan products is managed from the company’s Edmonton, Alberta, headquarters, while the company maintains branch offices in Lampman, Saskatchewan, and Kansas City, Mo., both of which handle U.S., Canadian and international orders.
The company’s expansion was hastened through the acquisition of already-established companies beginning in the late 1980s and lasting through 2001. During this period Titan acquired three primary companies, including one specializing in the manufacture of level management and control products, a second specializing in industrial burner controls, and a third company specializing in the manufacture of industrial instrumentation and controls. Two of these companies form the foundation of Titan’s core products. These principal units offer liquid level gauging and control systems for mobile tankers and liquid level gauging systems for storage tanks and process vessels. Through sales of third party products Titan provides communication and control systems enabling wireless management of remote processes
Responsible Risk Taking
Titan’s flagship product came about when, in the midst of these acquisitions, the company came across a sector in which it could apply its innovative approach to instrumentation and automation solutions. “In the mid-1990s we discovered micro-power impulse radar technology under development at the Lawrence Livermore National Laboratories in California,” recalls Greg McGillis, PEng, president and CEO of Titan. The company was so impressed with the technology’s potential that it acquired a license and began designing and engineering a system for mobile tank gauges.
Titan officially launched the TD80 Level Gauging and Overfill Prevention system in September 1999. TD80 is a guided wave radar device that is one part fluid level gauge and one part overfill prevention device. It took hard work and focused marketing to convince the tank transport industry that this new and innovative solution was the better way to go when compared to the manual methods they were so accustomed to. “After working at it for some time, my boss at the time asked me if the product would ever really take off,” recalls McGillis. “I faxed him a handwritten note – in large type – stating, ‘Sales are good. They are about to get better.’”
What soon followed was a steady increase in sales, leading to today where sales of the TD80 are the prime element of Titan’s success. It has grown to become Titan’s core product, enabling the company to increase sales from fiscal 2010 to 2011 by 61 percent. For the first two quarters of fiscal 2012 sales almost doubled over the same period the previous year. The TD80 leads the way for the fulfillment of Titan’s mission to provide customers with the benefits its slogan promises.
Total Automation for Total Transparency
The TD80 is specifically geared toward the mobile tank truck and trailer industry. The device has no moving parts for continually reliable, safe and cost-effective handling and transportation of expensive and highly hazardous liquids. McGillis noted that many clients have a strict policy where mobile tanker operators will be fired, should the tanker experience a spill. The TD80 aims to help keep those drivers safely employed.
“The problem is really threefold,” expands McGillis. “Spilling highly flammable crude oil could result in a fire, it could result in hefty fines from environmental regulatory agencies, and it can contain highly poisonous hydrogen sulfide gas.” The TD80 helps prevent any of these undesirable results. The product has been so successful that Titan sold or discontinued many of its other product lines in order to focus on developing and expanding the technology for use in other tanker markets.
“When Titan made that first round of acquisitions in the late 1980s and 1990s, the focus of the company was still being determined,” adds McGillis. “But with the success of the TD80 we made the very difficult decision to stop producing those products that weren’t really in line with the overall direction of the company. This decision has had a phenomenal effect on our team as it allowed us to become laser focused on our core products.”
Titan subsequently launched the Deice-Stik, the first of its next generation Radar-Stik line of products in 2009, which employ a similar guided wave radar technology as the TD80 using a probe mounted in a fluid compartment. The Deice-Stik applies the technology for use in aircraft deicing. The product is combined with Titan’s advanced graphic display and control module that can be connected to a wireless asset tracking system for optimal inventory management and billing accuracy.
A second iteration, the Av-Stik, was launched in March 2012 to apply the level gauging and overfill prevention technology to aircraft refuelers. Titan isn’t done yet. “Our ultimate goal is to combine our GWR solutions with other solution-specific technologies on the tanker to provide integrated automation solutions that enable more complete monitoring of specific fluids,” says McGillis. “We are teaming up with industry partners to provide these.”
For now Titan plans on focusing its efforts on expanding with products that increase communication between operations for greater transparency and total inventory management. Titan already has over 15,000 TD80 units in the field, and with oil production set to increase in the United States the future looks brighter than ever for the company. Operating on a company-wide commitment to building rewarding, long-term, ethical relationships with the four pillars of the company, Titan is positioned to strengthen its relationships with customers, suppliers, investors and employees and provide them with rewards that meet or exceed their expectations.
When it comes to suppliers, Titan knows that success is greatly impacted by its employees. For example, in September 2011 Titan contracted Sales Coach International to provide professional development training to its sales team. This ongoing coaching arrangement has strengthened the effectiveness of the territory sales managers, enabling them to more effectively serve the customer base.
It took a lot of faith for Titan to make the transition from mining support services to advanced fluid management technology. Now, drawing on the strength of its vision and values, Titan Logix Corp. is poised to continue developing products that increase on-site safety, operational effectiveness and transparency throughout the supply chain while maintaining integrity and respect for the interests of its shareholders and its clients.