ProStar Joins List of Innovative Companies

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March24, 24,2022 2022ISSUE ISSUE THEBUSINESSTIMES.COM THEBUSINESSTIMES.COM VOLUME 29 ISSUE 6 March

ProStar Named to List of Most Innovative Companies March 24, 2022 Article - Phil Castle Business Times

Page Tucker foresees a perfect storm brewing for his company. But that’s a good thing — a combination of factors he expects to increase the use of the infrastructure mapping software his firm developed.

Federal legislation allocates $1 trillion to fix roads, bridges and other infrastructure in the United States.

Even that will address only what Tucker considers the tip of an iceberg of what needs repaired and replaced.

The founder and chief executive officer of ProStar said he’s no less encouraged by the increased use of his company’s PointMan software among construction firms, utilities and government agencies — as well as data collection equipment manufacturers.

ProStar combines GPS, the cloud and mobile communication technologies with its software to capture, record and display the precise location of pipelines, utilities and other buried infrastructure.

(Photo courtesy ProStar)

That’s not to mention the recognition the Grand Junction-based company has garnered, most recently for inclusion in the Fast Company magazine list of what are billed as the 10 most innovative companies with fewer than 100 employees.

Tucker hasn’t yet achieved his goals for ProStar. Moreover, the endeavor has taken longer and cost more than he expected. But he said he’s excited about the progress that’s been made and what lies ahead. “This should be a good year for us.”

The Fast Company business magazine compiles an annual list of companies from a range of sectors and around the world to showcase their innovative practices

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“The world’s most innovative companies play an essential role in addressing the most pressing issues facing society, whether they’re fighting climate change by spurring decarbonization efforts, ameliorating the strain on supply chains or helping us reconnect with one another over shared passions,” said David Lidsky, deputy editor of Fast Company.

ProStar ranked second among the top 10 most innovative companies with fewer than 100 employees in part for its efforts to make the invisible visible with software that captures, records and displays the locations of buried utilities and pipelines.

Tucker said was pleased with the listing. “This is by far the most prestigious recognition that we’ve received for what we’ve developed.”

Tucker launched ProStar in 2014, combining Global Positioning System, cloud and mobile technologies with precision mapping software to capture, record and display the precise locations of utilities, pipelines and other buried facilities.

It’s like the Google maps of what’s under ground, he said.

Page Tucker, CEO, ProStar

In locating underground pipes and utilities based on records, there could be discrepancies between where records indicate utilities were installed and where they’re actually located. Using ProStar software and services, workers can capture, record and display the location of buried infrastructure down to the centimeter, Tucker said.

That’s important in not only repairing and replacing infrastructure, but also protecting workers and the environment. By one estimate, more than 500,000 strikes on buried utilities are reported each year in the United States with an estimated $30 billion affect on the economy.

Tucker said he expects the software to become even more important given the infusion of federal funding to repair and replace infrastructure in the United States. That includes roads and bridges as well as water and sewer lines and lines offering high-speed internet connections. Moreover, infrastructure often is located beneath roadways.

As work proceeds on infrastructure, Tucker said he expects additional issues to surface with dilapidated pipelines and utilities. “They’re about to expose how big this problem is.”

By one estimate, there are 2.5 million miles of paved roads in the United States. There are 35 million miles of buried utilities, he said.

ProStar offers its software as a service and counts among its customers Fortune 500 construction companies, engineering firms, utilities and government agencies.

The Colorado Department of Transportation mandates the use of ProStar software in work involving state roadways.

Moreover, ProStar software is used with Trimble positioning software and equipment. Trimble technology Page 2

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integrates with the PointMan application running on smartphones and tablets using Trimble GPS receivers.

ProStar holds a total of 21 patents in the United States and Canada for its systems and methods to capture and display the location of infrastructure. The company is willing to go to court to protect its intellectual property, Tucker said.

ProStar operates its headquarters in Grand Junction and also maintains a location in Boulder. Tucker said a total of 29 employees work for the company — 19 of those in Grand Junction.

Tucker said he expects to increase staffing. ProStar has developed a work force pipeline of sorts, he said, in offering paid internships to students at Colorado Mesa University in Grand Junction and then hiring them for full-time positions when they graduate.

Tucker achieved one goal for ProStar in taking the company public. The firm is traded on the Toronto Stock Exchange in Canada and Frankfort Stock Exchange in Germany as well as an over the counter exchange in the United States.

Tucker hopes, though, the company eventually will be traded on the tech-heavy NASDAQ exchange.

He also hopes to double the number of customers using ProStar software and increase revenue by a similar proportion.

The evolution of ProStar over the past eight years has taken longer and cost more than Tucker said he ever imagined.

But he also said he’s pleased with the progress that’s positioned ProStar to take advantage of the perfect storm ahead and the combination of factors likely to drive additional growth for his company.

For more information about ProStar, visit the website located at www.prostarcorp.com.

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