Aerometrex (ASX:AMX) share price on watch after announcing new bushfire product

The Aerometrex Ltd (ASX:AMX) share price could be one to watch today after it announced an exciting new bushfire product…

| More on:

The Aerometrex Ltd (ASX: AMX) share price will be on watch on Thursday after the announcement of a very promising new product development.

What did Aerometrex announce?

This morning the Nearmap Ltd (ASX: NEA) rival announced that it has developed a new technology that is able to determine, in three dimensions, the exact fuel load densities in any bushfire prone region in Australia.

The aerial mapping company believes the breakthrough should allow emergency authorities, government, and communities to adopt a far more science-based and pre-emptive fuel load strike position ahead of this year’s bushfire season.

Management advised that this product is an advance of its existing LIDAR (Light Detecting and Ranging) technology. It was developed by the company’s research and development team over 2020 in consultation with government and industry following the disastrous Black Summer fires across Australia last summer.

How does it work?

The release explains that the system employs up to two million individual laser pulses per second. These are emitted from a sensor within an aircraft as it flies above the area of interest.

The system then measures the time taken for each laser pulse to travel down to the surface and get reflected back up to the aircraft. This allows the precise location of the point of reflectance to be calculated in three dimensions. Positively, it can be applied regardless of location, topography, or ground cover.

This delivers a far more accurate image of vegetation and is more sensitive to variations in vegetation structure and density compared to remote sensing techniques such as satellite imagery and RADAR. After which, data from the advanced LIDAR technology allows for the extraction of understorey fuel load estimates that would otherwise be fully obscured from view in satellite or aerial imagery by overlying canopy.

Management notes that the outcomes and product development from its research are both timely and relevant following the detailed recommendations of the Bushfire Royal Commission, state-level bushfire inquiries, and the final reports published by the Bushfire & Natural Hazards CRC.

This is because many of these reports highlighted remote sensing technologies such as LIDAR as critical resources that have the potential to revolutionise bushfire management and response practices.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. The Motley Fool Australia has recommended Nearmap Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News