innogy Ventures is the venture capital arm of innogy SE, one of Europe’s largest utility companies, while Shell Ventures is one of the corporate venture funds in the oil and gas industry.
Akselos said in a statement that the financing will help to increase the sustainability of critical assets in the energy sector, by empowering predictive maintenance with structural analysis software, big data analytics and machine learning.
Akselos, spun out from MIT, brings emerging digital tech to the market through an exclusive license with MIT. The technology, over 15 years in the making, was further developed at the Swiss Federal Institute of Technology.
According to the statement, the technology simulates exact virtual replicas – or digital twins – of large mechanical assets, using data to create accurate living, learning and predictive twins.
The solution, which is 1,000 faster and more accurate than the industry standard when modelling large scale assets, will offer operators real-time access to the condition of the asset from anywhere and at any time and allow a move towards predictive maintenance.
It is the first technology of its kind to be compatible with the IoT and digital solutions such as sensors, big data analytics and machine learning.
Akselos co-founder and chief executive officer, Thomas Leurent said the announcement underlines the value they will bring to the energy sector and a huge vote of confidence from two of the world’s most progressive and innovative energy companies. He said: “Our technology will not only help maximise efficiency and returns in the oil and gas industry in an increasingly competitive market, but it also has a crucial role to play in accelerating the energy transition.”
More details on https://akselos.com/
-- BERNAMA
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