Texaco Press Release - Texaco Launches New Company To Market Proprietary Remote Sensing
Dr. Alfredo E. Prelat Named President & CEO of Alto Technology Resources
FOR RELEASE: THURSDAY, DECEMBER 16, 1999
HOUSTON, Dec. 16 - Texaco today announced the formation of Alto Technology Resources Inc., a wholly owned, Houston-based subsidiary that will market Texaco's proprietary remote sensing technology. The technology, known as Texaco Energy and Environmental Multispectral Imaging Spectrometer (TEEMS), provides unique information about the earth's crust, as well as surface matter, using data gathered from aircraft and satellites.
Commenting on the announcement, James R. Metzger, Vice President and Chief Technology Officer of Texaco Inc., said, "The fast, efficient, and relatively low cost information that TEEMS provides cannot be matched by any other remote sensing data-gathering system currently available to the oil and gas industry. The marketing of TEEMS will create additional value for Texaco's shareholders by making this important technology commercially available to other businesses and industries."
TEEMS, a breakthrough optical imaging spectrometer, records over 200 selected wavelengths of reflected and emitted energy and uses the information to detect minute concentrations of hydrocarbon in rock, vegetation and soil without touching the earth's surface. In addition to the optical system, the sensor's aperture radar conducts high definition mapping of geological features on the ground. The three-dimensional images produced by this technology provide significant information about the surface structure, greatly reducing expenses and cycle-time in the exploration process and in the development of environmental assessments and protection plans.
Developed under the direction of Texaco Fellow, Dr. Alfredo Prelat, TEEMS offers real-time recording and processing of several hundred square miles of geological and environmental data per day. Using this capability, Texaco scientists have increased their productivity and accuracy in the evaluation of natural resources and protection of the environment.
Dr. Prelat, who has been named Alto Technology Resources' President and Chief Executive Officer, said, "The sensor technology we developed at Texaco marks the emergence of a new type of exploration. It identifies geological features that can be correlated to subsurface characteristics, which have controlled the movement and entrapment of oil and gas over millions of years. This technology is the only highly advanced, airborne remote sensing system capable of providing real-time monitoring and processing of geological data for exploration and environmental assessments."
Thomas Tesoriero, Portfolio Manager of TEEMS, who was appointed Vice President of Alto Technology Resources Inc., added, "The formation of Alto Technology Resources will allow the application of TEEMS to activities other than oil and gas exploration, such as pipeline monitoring, environmental assessments, project planning and investigations, and agriculture."
Updated: December 1999