NZ company seeks funds for "startling" network technology

As wireless data solutions loom ever larger on the local front, a small Christchurch company will today announce what it describes as 'a startling new way of building computer and communications networks' using a 'mesh' of wireless devices. IndraNet Technologies is to stage a public float to fund further development of a broadband broadband wireless system based on it says 'does not need central exchanges or server, major cabling or wiring. Instead, it turns each network connection into a mini-server.'

As wireless data solutions loom ever larger on the local front, a small Christchurch company will today announce what it describes as "a startling new way of building computer and communications networks" using a "mesh" of wireless devices.

IndraNet Technologies is developing a broadband wireless system based on standard hardware that it says "does not need central exchanges or server, major cabling or wiring. Instead, it turns each network connection into a mini-server."

The distributed networks, called IndraNets, use devices the company dubs "minders" - small computers with radio aerials that handle data for themselves and other nodes, as well as security and energy management.

The company foresees "minders" being installed install on the roofs of users' buildings. Each of the devices talks to others in range, and determines its own position with a built-in GPS receiver. IndraNet says such mesh networks will be powerful and cheap to deploy.

IndraNet is being developed by physicist Andrew McGregor and engineer Dr Louis Arnoux, who last year pooled 10 years of related research to form the company.

The company obtained risk finance early this year and is now seeking to float 1,500,000 shares valued at $2 each. It has backed up its float with a peer review from US firm JP2 Consultants.

The company aims to use the proceeds of the float to fund a three-year development phase which will see a laboratory established in co-operation with the University of Canterbury. After that, it says it will begin commercialising its technology.

The name IndraNet is apprently inspired by a traditional metaphor about the magical net of the Hindu god Indra, which has a jewel at each of its nodes.

Further information on the float and the technology is available at:

http://www.indranet.co.nz

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