Lux Assure, a Scottish research and development (R&D) company specialising in chemical monitoring technologies for the oil and gas industry, said yesterday it had launched its first product.
The firm, which has an office at Westhill, predicted sales of £100,000 this year after commercialising its Ommica tool.
Lux said it expected the accessible global market for Ommica, which is used to detect chemicals in oil or water onshore or offshore, to be worth £1million.
The Edinburgh company said that operators in Africa, Australia and Europe were already using the detection kit, which determines the concentration of methanol or monoethylene glycol.
Lux managing director Emma Perfect described Ommica’s commercialisation as a major milestone for the firm.
She added: “Ommica is the first of the company’s products to be launched since we became focused on the oil and gas industry in 2010.
“We are extremely excited by the positive response Ommica has generated so far from the oil and gas sector.”
Ms Perfect added that Lux was also working on taking other products to market, including a corrosion monitoring tool.