Osborne Park-based company Advanced Braking Technology has given the green light to commercially launch its patented SIBS garbage truck brake technology.
The news comes after the company completed a $2.4 million capital raising in April to contribute towards the final stages of product validation and the funds matched a$2 million Commonwealth grant designed to support its market launch.
It also follows a four-year product development period which cost more than $4 million and included testing that demonstrated the brake system regularly exceeded expectations set down at the project inception.
The SIBS is a single disc enclosed wet brake used by mining companies in harsh environmental conditions.
The brake system proved to extend servicing intervals giving operators at least two years between major services, a total elimination of fine particulate emissions, a reduction in tyre wear and the elimination of brake squeal common on waste collection vehicles.
ABT recently confirmed that the braking system could be integrated with a standard ABS ‘anti-skid’ brake control system allowing the company to offer SIBS on new truck sales with ABS and retrofit it on old trucks with or without ABS.
The company will now finalise supply agreements with key parts vendors, construct production dies and tools and identify customers for the brake system.
ABT chief executive Ken Johnsen said the board’s decision to commercialise the technology would broaden its product offering to the recession tolerant global waste disposal market.
“Sales of the SIBS garbage truck brake will augment the company’s sales into the mining market this financial year and have the potential to eventually become the major revenue stream for the company,” Mr Johnsen said.
Advanced Braking Technology shares closed unchanged at 1.5c.