The formation of Intellection was described as an outstanding example of CSIRO fulfilling its charter at its launch.
"The technology CSIRO has developed has established a world-wide reputation with top international minerals companies gaining millions of dollars by using the high-tech 'QEMSCAN' systems," Federal Science Minister McGauran said.
In launching Intellection at Parliament House, McGauran said rarely do new businesses start with such a strong foundation.
Intellection has the license to CSIRO's world leading QEM*SEM technology and its QEMSCAN automated mineral analysis systems. A typical QEMSCAN system is valued at around one million dollars and customers are achieving paybacks within a matter of months.
A QEMSCAN system consists of a scanning electron microscope, four X-ray detectors and a unique CSIRO software package. It rapidly identifies and analyses the different minerals in ore samples and process streams.
"The technology has the capacity to make 12,000 analyses per minute which makes it a geologist's dream come true," according to Intellection Chief Executive Calvin Treacy.
Treacy says, "QEMSCAN enables companies to adjust their processes and achieve major improvements in recoveries and to reduce waste streams. This leads to large increases in cash flow and profitability."
CEO of CSIRO Dr Geoff Garrett says, "this is a wonderful example of CSIRO putting its commercialisation strategy into action."
Treacy said, "The real proof of the market success of the product is the number of international repeat purchase orders which have already been received."
"Intellection was born out of industry demand. Our customers made it quite clear they wanted us to fully commercialise the technology and support it within a truly commercial and responsive customer-focussed business."
Intellection also has a high-calibre and balanced board with extensive financial, commercialisation, venture capital, marketing and international minerals experience. The board comprises independent Chair Barry Hilson, CEO Calvin Treacy, independent Director Alan Broome, and CSIRO-nominated Director John Shaw.
Initially Intellection will be a wholly owned CSIRO company.