Critical infrastructure intelligence, mispriced as inspection services.
Project Helios is a services-led infrastructure intelligence platform serving utilities, energy operators, and selected hyperscaler-related environments where reliability, safety, and regulatory compliance already justify recurring inspection and asset-integrity spend.
The investment case is to buy the proven operating base at a disciplined entry valuation and fund the specific commercial, product, and software GTM work required to convert embedded customer access, software ARR, and autonomy-adjacent capability into a cleaner, better-rated platform story.
Project Helios is a utility and energy asset-intelligence platform built around inspection execution, workflow orchestration, software attach, and a growing autonomy roadmap inside critical infrastructure environments.
It turns inspection activity into evidence, reporting, and decision support across fragmented infrastructure workflows rather than treating image capture as the end product.
Large investor-owned utilities, energy operators, and selected hyperscaler-related infrastructure accounts where downtime, safety, auditability, and asset reliability matter.
Customer embed, software attach, workflow relevance, NDAA-compliant fleet transition, and early DIAB programs create a stronger position than either pure field operators or software-only challengers.
Six-office operating footprint with US and UK headquarters, 258 employees recorded in October 2025, and a services-led base that already supports meaningful EBITDA before the software and autonomy thesis is fully realized.
Blue-chip utility and energy accounts validate relevance in demanding environments, although concentration and attach proof still require underwriting discipline.
Buy a scarce infrastructure services-and-software wedge with visible revenue, then use sponsor capital to improve software GTM, pricing structure, packaging, and mix.
Management credibility is rooted in long-standing utility and energy relationships, operating know-how, and delivery execution in critical environments. The principal augmentation need post-close is software GTM leadership so the business can package, price, and commercialize the software layer more systematically alongside the existing services base.
Project Helios has already been trusted by major utilities, energy operators, and sophisticated enterprise accounts in environments where vendor failure has real cost.
The base business sits in non-discretionary spend tied to safety, regulation, asset integrity, wildfire mitigation, and infrastructure resilience rather than optional IT experimentation.
There is a real services-underwrite beneath the thesis, so the entry case does not require investors to pay upfront for a full software transformation.
Software ARR, software-first wins, and recurring managed-service pathways around DIAB create credible starting evidence for a cleaner revenue architecture.
Roughly 80% of FY27 revenue is already contracted or highly visible, with approximately 3.5x pipeline coverage on the remaining 20%.
The value-creation path is commercial rather than scientific: software GTM, pricing architecture, packaging, and disciplined autonomy monetization.
What must be proven
Renewal pricing, repeatable software packaging, standalone software commercialization, recurring managed-service autonomy monetization, concentration mitigation, and sustained movement toward a cleaner revenue mix.