Sector News

Partnership to develop AI technologies for industry

November 27, 2020
Chemical Value Chain

Wood and industrial software company Cognite have partnered to accelerate industrial transformation by creating AI technologies that will allow heavy-asset infrastructure and industry to achieve more connected, sustainable, and data-driven operations.

According to Mark House, President of Automation and Control at Wood, Cognite and Wood will use physics-based models and AI to provide analytics that drive increased profitability and sustainable industrial operations.

He adds that the partnership will combine Cognite’s technology with Wood’s process optimisation platforms such as Virtuoso, a suite of software tools for asset performance management. Additionally, the collaborators will combine Cognite’s flagship product, Cognite Data Fusion with Wood’s multisector domain knowledge, data extraction, and technology integration expertise, which Wood claims is proven to optimise productivity and performance.

Cognite Data Fusion is a software package that places operational data into context, at scale and in real-time, enabling asset-intensive industries to make data-driven decisions in upstream, midstream, and downstream. The technology will be used to transform isolated raw information into meaningful digital insights in real-time, enabling industry to make faster and better-informed business and operational decisions.

Cognite and Wood aim to deploy performance technologies that address energy transition needs. The collaboration is expected to enable greater understanding of existing assets and operations, freeing data trapped in fragmented and legacy systems.

by Amanda Jasi

Source: thechemicalengineer.com

comments closed

Related News

September 25, 2022

France and Sweden both launch ‘first of a kind’ hydrogen facilities

Chemical Value Chain

France has launched an offshore green hydrogen production platform at the country’s Port of Saint-Nazaire this week, along with its first offshore wind farm. The hydrogen plant, which its operators say is the world’s first facility of its type, coincides with the launch of another “first of its kind” facility in Sweden dedicated to storing hydrogen in an underground lined rock cavern (LRC).

September 25, 2022

NextChem announces €194-million grant for waste-to-hydrogen project in Rome

Chemical Value Chain

The project sets up the Hydrogen Valley in Rome, the first industrial-scale technological hub for the development of the national supply chain for the production, transport, storage and use of hydrogen for the decarbonization of industrial processes and for sustainable mobility.

September 25, 2022

The problem with hydrogen

Chemical Value Chain

At first glance, hydrogen seems to be the perfect solution to our energy needs. It doesn’t produce any carbon dioxide when used. It can store energy for long periods of time. It doesn’t leave behind hazardous waste materials, like nuclear does. And it doesn’t require large swathes of land to be flooded, like hydroelectricity. Seems too good to be true. So…what’s the catch?