TAE AEROSPACE HAS CLOSED ITS SUBSIDIARY, FOUNTX PTY LTD, TO PRIORITISE ITS CORE AEROSPACE BUSINESS.
THIS STRATEGIC DECISION WAS MADE CAREFULLY. TAE AEROSPACE CONTINUES TO EXPAND INTO NEW MARKETS IN GLOBAL AEROSPACE AND THIS ENDEAVOUR DEMANDS ITS FULL FOCUS.
IT FOLLOWS THAT THE CLOSURE OF FOUNTX ALSO HALTS DEVELOPMENT AND SALES OF ITS AWARD-WINNING TECHNOLOGY PRODUCT, FOUNTX_ASR.
AS A RESULT, AN OPPORTUNITY EXISTS FOR ANOTHER INNOVATIVE COMPANY TO TAKE FOUNTX_ASR TO MARKET AND CAPITALISE ON THE POTENTIAL OF THIS WORLD-CLASS TECHNOLOGY.
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FOUNTX: THE STORY SO FAR
Three and a half years ago, TAE Aerospace viewed a promising prototype developed by leading researchers, CSIRO. By combining several technologies in a novel way, the prototype allowed users to collaborate across vast distances in a natural manner, as though they were in the same place. Its above-eye display was similar to existing augmented reality ‘smart glasses’, but it didn’t affect the user’s spatial awareness or ability to perform challenging tasks. This difference made it particularly suited to complex industrial environments like aerospace.
TAE Aerospace realised that this technology could solve a range of problems for its customers. After establishing a subsidiary company to take it forward, the first demonstrator units were produced and named Fountx_AsR. The AsR stood for ‘assisted reality’ – the element that set it apart from other wearables using existing augmented reality technology.
Fountx_AsR was trialled by interested companies across multiple industries. As it turned out, the same challenges the product was set to solve in aerospace were also felt in industries like health, mining and manufacturing.
Over several years, the team continued to test and refine Fountx_AsR based on customer feedback. TAE Aerospace also used the product in its own business, and continues to do so today. Fifty units have now been manufactured and interest is strong from global brands in mining, health care and aerospace.
User feedback tells us that Fountx_AsR can do what its competitors cannot, although further refinement and design iteration is needed. The company in a position to take these steps has the opportunity to close this exciting chapter and write the next one.
If you want to shape how the Fountx story develops, contact us today.