History of JP3 Measurement, LLC
JP3 Measurement was founded by entrepreneur Paul Little in 2005. Coming from a South Texas family that has been in the oil and gas industry for nearly a century, Paul was very familiar with the challenges of obtaining consistent and accurate measurement of oil and gas.
After earning an engineering degree from UT Austin, Paul spent several years working in the semiconductor industry in Austin and the Silicon Valley. During a routine equipment evaluation, Paul noticed that the spectrometer being used for other purposes could also detect hydrocarbon molecules in the machine’s processing chamber. He quickly surmised that this same technology could be adopted for use in the oil and gas industry to measure hydrocarbons in locations where traditional analyzers could not survive.
The optical technology would be more accurate and much faster than existing measurement technologies. Armed with that knowledge and with an entrepreneurial spirit, Paul launched JP3 and started down the path of revolutionizing the way that hydrocarbons are measured, bought and sold.
Today JP3 Measurement is a vibrant, growing company headquartered in Austin, TX, expanding its reach across the entire oil and gas market.
JP3 Measurement Timeline
JP3 Launches the Verax ISX/IMX: Single- and Multi-Stream Analyzers with ATEX and IECEx certification
JP3 Introduces AIDA; a Machine Learning Application to Identify Batch Product Interfaces and Reduce Transmix
Standard GPA-2119-20 adopted by GPA Midstream Association
JP3 Announces Joint Data Service Solution with Phillips 66 to Reduce Transmix Generation
JP3 Acquired by Flotek Industries, Inc.
JP3 Participates at CERAWeek as Technology Innovator
JP3 Releases Line of Single Stream Analyzers for Hydrocarbon Composition and Physical Properties Analysis
JP3 Receives Best Analyzer Technology Award for 2018
JP3 launches the Verax CTXe – Eight Stream NIR Analyzer
Kevin Brown Joins JP3 Board of Managers
JP3 launches the Verax CTX – 2nd generation NIR Analyzer
JP3 introduces the VeraSight flow cell
JP3 launches Viper Insight client data and interface software for Verax systems
JP3 is awarded Canadian safety certifications
JP3 launches Verax CTX for Natural Gas Custody Transfer
JP3 launches the Verax VPA to address the increased focus on product volatility
JP3 names Insight Analytical as Local Business Partner in Canada
JP3 continues to expand and sees revenue growth of over 10X
JP3 receives its first customer order for over $1MM
Matt Thomas is recruited to join JP3 as President and CEO.
JP3 launches the Verax 75 to the market.
The first Verax analyzer is installed in the field.
Bill Tsakopulos joins Paul in his innovative endeavors.
Paul leaves the semiconductor industry, and JP3 Manufacturing (later JP3 Measurement) is incorporated as an LLC.
Paul observes that optical technology (spectroscopy) can measure hydrocarbon molecules.