Over the last 10 years Mr. Banica has been involved with a number of space instrumentation projects on which the realSens technology has been based on.Mr. Banica founded his first venture, Synodon Corporation in 1995.
As President of this profitable electronics instrumentation firm, he led the engineering staff to ever increasing revenues over a 4 year term.
Through Synodon he has also provided his project management and engineering expertise to a number of high profile space instrumentation projects: Thermal Plasma Analyzer, a Canadian instrument on board a Japanese Mars mission; ACTORS, a space shuttle scientific experiment; Optical Inter-Satellite Link, a $150 million space laser communications project in Boulder, CO.
In 1999 the company was sold to a European firm called Rhea Group SA, a space consulting firm with offices in London, Madrid, Belgium and, through the Synodon acquisition, Edmonton, Canada. He became Rhea's VP for North America and was a member of the board. Banica’s latest venture, Synodon Inc. (TSXV:SYD) was spun out of Rhea in 2000 and has developed a breakthrough remote sensing technology called realSens. This system can detect very small ground level gas concentrations from an aircraft.
He has been able to attract over $20 million in investments into the venture and assemble a strong management team to design and develop the product as well as transform the R&D company into a leading edge remote sensing and IT organization.