Capitalizing on rescue vest proves difficult

RibicRescue Inc.

got a lot of ink lately with its invention to save people trapped in high-rise buildings, and the founders of the Reno-based company have paid dearly to develop the product.

Harald Ribic, the German engineer who developed the RibicRescue system, sold his beloved airplane to raise capital to finance the company.

Jack Challis, a Reno resident who is the company's vice president, dug deep into his personal savings to keep the company going after banks turned him and Ribic away.

"We both have had cash going out for a long time and not much coming in," Challis said as the company got ready to make last week's major public relations push.

The product involves a vinyl vest and a container of steel rope.

A person trapped in a high-rise building during a disaster can attach a hook on the steel rope to a pillar or doorway, break a window and lower himself to safety.

A hand-operated braking system allows the user to control his rate of descent; if he loses consciousness, a pre-set maximum descent speed kicks in.

A model that can handle a descent from a 66-story building that's 820 feet retails for $795.

A model with 1,475 feet of steel rope, enough for a 110-story building, sells for $850.

Initially, Challis said, the company will market the product through its Web site (www.ribicrescue.com) although the company also is working to find distributors in the United States and internationally.

A meeting with a potential Japanese distributor is scheduled this month.

A major task, Challis said, will be building sales volumes so the company can achieve longer production runs.

The product is manufactured in Germany, where Ribic can keep a close eye on quality control.

The product that hit the market this month reflects improvements made on three prototypes developed by Ribic during the past two years.

At the same time that it's looking to build sales volume, Challis said RibicRescue wants to make sure its growth isn't so fast that it outstrips the company's resources.

"We need to walk before we can run," he said.

Worldwide distribution is handled in Reno, largely because the availability of a free trade zone allows the RibicRescue products to be brought duty free into the country for shipment elsewhere.

While much of the publicity last week centered on the World Trade Center attacks of 2001 Challis and Ribic were on the phone that day, watching in horror as people leaped to their deaths Challis said the RibicRescue products are more likely to be used in case of fires or natural disasters such as earthquakes.

The company would like to provide a demonstration of the system somewhere in Reno, but Challis said he hasn't yet had any luck finding the owner of a high-rise willing to let the company use the side of a building.