Lithicon, previously known as Digitalcore, was originally set up in 2009 by ANU scientists in collaboration with colleagues at UNSW to develop an advanced computational approach to rapidly solving fluid behaviour in oil reservoirs. The technology produces digital 3D images and simulations of fluids in rock samples - giving companies crucial information to help them work out the best way to extract oil and gas.
Prior to the start-up, researchers at ANU and UNSW created a research consortium with 14 multinational oil and gas companies to prove and develop the emerging technology and allow the concept to be market tested.
The company secured early funding from ANU Connect Ventures and the Canberra Business Development Fund.
In early 2014 the company was sold to the United States-based FEI Company, which specialises in imaging technology for oil and gas exploration for A$76M.
Lithicon came up with a revolutionary high-resolution 3D imaging technique with FEI now planning to develop new markets outside oil and gas using the imaging technology.
To learn more go to http://www.fei.com/lithicon-is-now-fei/
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