HOUSTON, Oct. 26, 2022 (GLOBE NEWSWIRE) -- Radix Engineering & Software and Element Analytics announced a partnership that combines their respective Information Technology (IT), Operational Technology (OT), Engineering Technology (ET), consulting and software expertise developing scalable solutions for asset and process optimization. The partnership helps industrial customers improve asset monitoring and optimize uptime across multiple plants around the globe. Both companies will showcase success cases at AVEVA World, November 14-17, 2022 in San Francisco.
Radix is a global technology company that provides consulting, engineering, operations technology, and digital solutions to help companies thrive in their digital journey to become data driven. Element’s Unify software platform helps companies transform and contextualize siloed information into useful data sets where the data is linked, regardless of the source.
Commented Elliott Bell, Program Director for Radix: “Element provides a trustworthy and centralized source of metadata which allows Radix to develop scalable solutions for asset process optimization, such as digital twins. Regardless of the industry or equipment type, digital twins must follow a defined hierarchy pattern, which is constantly updated by the reliability engineering team. Consistent updates through Element Unify ensure that the best available data is fed to the analytical engines. The ability to locate, trust, and apply the metadata in a centralized manner has a direct impact on the long-term cost of ownership. For example, Digital Twins enable remote operation centers to have access to data that can be understood by a subject matter expert, these centralized resources can help monitor and improve asset health, asset performance, based on a consistent single source of truth. This in turn reduces operational costs across multiple environments.”
“We’re excited to partner with Radix to enable industrial operators who are racing to turn their operations data into a value-generating asset so their people can make faster decisions. Together, Radix and Element empower people with operations data to achieve analytical insights that improve asset uptime, reliability, sustainability, and profit,” said Andy Bane, CEO of Element.
First solution from Radix-Element Partnership
An already great achievement of this recent partnership is a solution that integrates metadata from siloed operational data sources that publish to AWS IoT TwinMaker for digital twin development and management. Radix Engineering and Element debuted this joint solution that accelerates the digital twin journey: the Digital Twin Power Up, at the Oil&Gas IoT conference. Both companies received an invitation from Amazon Web Services (AWS) to join their booth and present this new solution, that combines some of the leading technologies and expertise in developing digital twins. The Digital Twin Power Up starts to deliver business outcomes in as little as 30 days, making it possible to have scalable digital twins. It integrates metadata from siloed operational data sources and graph-based data models that work with AWS IoT TwinMaker for digital twin development and management. It also identifies and builds powerful analytics for digital twin use cases that allow operators to take action to achieve business outcomes. In this solution, Radix has contributed with the Analytical Model to set parameters, points, rules, algorithms, and artificial intelligence (AI) produce events.
About Radix Engineering & Software
Founded in 2010, Radix Engineering & Software is a privately held global engineering, software, and Operations/Information Technology consulting company with more than 1,300 employees around the world. Radix provides technology-based solutions to industrial customers focused on the Oil and Gas, Chemicals, Power, Metals & Mining, Pulp & Paper, and Food & Beverage industries, as well as non-industrial customers focused on Transportation, Education, Healthcare, Financial, and Entertainment industries. Radix’s North American headquarters are in Houston, TX with the Global HQ in Rio de Janeiro, Brazil, and offices in São Paulo and Belo Horizonte. With a strong focus on results, people, and long-term relationships, Radix has been developing projects in more than 35 countries worldwide.
About Element
Element is a leading software provider in operations data management. Element Unify empowers people with access to operations data to make faster decisions that deliver financial impact. Element’s customers represent over $750 billion in revenue, $500 billion in fixed assets and 450,000 employees. To learn more about Element, please visit elementanalytics.com and follow the company on LinkedIn and Twitter.
For more information contact:
Radix Company Contact:
Ana Carolina Parreira Ferraz Mastrangelo, ana.mastrangelo@radixeng.com
Radix Engineering, + (832) 377-9601
Radix Media Contact:
Becky Stevens, Virtual Marketing, becky.stevens@virtualmarketing-pr.com + (713) 444-6860
Element Marketing Contact
Briscoe Pelkey, bpelkey@elementanalytics.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f21b8f5b-c6b9-4f21-a1ce-85ce5d8f98b7
