News
Strategic Partnership with Novity to jointly deploy an integrated solution in Japan, the Middle East and North America by combining Novity's TruPrognostics? AI with Chiyoda's plantOS? Solution
Chiyoda Corporation (Chiyoda) has entered into a Memorandum of Understanding with (Novity) to jointly deploy an integrated solution combining Novity's truly predictive maintenance AI platform 'TruPrognostics? AI' with Chiyoda's Operations & Maintenance (O&M) total solution platform 'plantOS?*.'
Chiyoda and Novity will jointly promote the integrated solution in Japan, the Middle East and North America, aiming to deliver data-driven maintenance optimization, operational stability and enhanced equipment reliability.
■ Background
Industrial sectors are facing increased challenges such as labor shortages, the transfer of expert skills and the growing requirement for advanced asset management. By combining Novity's accurate hybrid AI-based technology TruPrognostics? AI with Chiyoda's plantOS?, we can deliver a new, groundbreaking O&M solution that will provide users with Remaining Useful Life (RUL) predictions, precise machine diagnostics, and actionable maintenance and operational recommendations, altogether enabling O&M excellence and operational predictability at scale.
■ Objectives
The primary objectives of the partnership are:
? Creation of an advanced O&M solution integrating prognostics, diagnostics, anomaly detection, O&M recommendations and operational optimization
? Joint Go-to-Market initiatives tailored to the needs of markets in Japan, the Middle East and North America
? Enhancing the safety and reliability of AI and data utilization (strengthening data governance)
? Contributing to improved equipment operational efficiency, reduced downtime, optimized maintenance costs and greater operational safety for customers
■ Solution
The integrated solution will deliver:
? Reduced unplanned downtime through accurate machine fault diagnostics and remaining useful life estimates
? Efficient operations and support for load adjustments based on equipment conditions
? Digitalization of expert skills and support for knowledge transfer
? Strengthened governance through a secure, integrated data platform
Chiyoda and Novity plan to jointly establish a complete roadmap, from Proof of Concept (PoC) through to commercial deployment, focusing primarily on LNG facilities, refineries, chemical plants, power plants and infrastructure facilities.
■ What Sets TruPrognostics? Apart
Conventional predictive maintenance tools alert operators to anomalies but cannot answer when failure will occur. The integrated plantOS? + TruPrognostics? AI solution closes this gap.
? Hybrid Physics-AI Models - High Accuracy without Large Historical Datasets:
Unlike data-driven tools that require extensive run-to-failure training data, TruPrognostics? AI combines physics-based models with machine learning to achieve 90%+ accuracy even with limited historical data.
? End-to-End O&M Integration via plantOS?:
TruPrognostics? AI is embedded directly into plantOS?, connecting RUL predictions to maintenance planning and operations in a single integrated workflow.
■ Company Comments:
Mr. Markus Larsson, Co-Founder and CEO of Novity said:
Novity TruPrognostics? AI has been proven in live deployments across upstream and midstream operations, mining, metals manufacturing, wastewater, and chemical plants - and we're now extending into LNG. Partnering with Chiyoda, one of the world's leading engineering firms, to bring TruPrognostics? AI to their existing customer base and beyond is a natural next step as we scale. We look forward to working together to help operators move from reactive maintenance to truly predictive operations.
Mr. Toru Yoneyama Technical Authority - Industrial DX, Chiyoda said:
Most predictive maintenance tools on the market stop at anomaly detection and alerts - they cannot answer the fundamental question of what will fail and when. The integrated solution combining plantOS? and Novity TruPrognostics? AI represents a fundamentally new approach not yet seen in the market: delivering high-accuracy RUL predictions powered by physics-AI hybrid models, deployable on existing plant infrastructure. Leveraging Chiyoda's engineering expertise and digital platform, we are transforming our customers' O&M into truly predictive operations.
■ Novity, Inc.
Established: 2022
Headquarters: San Francisco, CA, United States
Main Business: Development and provision of the AI predictive diagnostics platform TruPrognostics? AI
URL:
- Chiyoda Corporation trademark. It is an integrated operation and maintenance solution that combines on-site physical support with advanced analysis services and cutting-edge digital technologies such as IoT, cloud computing and AI. By integrating these capabilities, plantOS? supports operation and maintenance activities across a wide range of industrial facilities and plants.
Reference:
Chiyoda Corporation press release dated September 4, 2023
/en/media/assets/230904_e.pdf
For further information, please contact:
Chiyoda Corporation
PR & Sustainability Advanced Section
Email: chiyoda_pr@chiyodacorp.com
URL: /en/contact/index.php