UNIIQ and ENGIE joint investment in Semiotic Labs
UNIIQ investment fund and technical service provider ENGIE Services have made a joint investment in Semiotic Labs. With the help of its innovative technology, the company can predict when electric motors are at risk of breaking down. Semiotic Labs was founded in May 2015 by Simon Jagers (COO) and Gerben Gooijers (CEO).
The investment was announced on 12 January, when the symbolic UNIIQ plaque was presented to Simon Jagers and Gerben Gooijers by Jaap Smit, King's Commissioner in the Province of Zuid-Holland, and Ms. Adri Bom-Lemstra Regional Minister of the Province of Zuid-Holland.
Downtime to zero
“Our aim is to reduce unplanned downtime to zero. To achieve this, we use sensors as well as machine and deep learning algorithms. These algorithms will learn from data that will be collected when our solution undergoes a large-scale roll-out,” explains Gerben Gooijers at CEO Semitoc Labs. He continues:
The investment from ENGIE Services and UNIIQ will now allow us to fit several hundred sensors for our clients, thus putting the technology into practice and validating the good results achieved in the lab.
Guido Frenken, Managing Director ENGIE Ventures & Integrated Solutions at ENGIE Nederland NV, states: “Over the last 18 months, we have developed several projects with various of our clients, which not only resulted in an acceleration of this technology but also allows us to create more added value for our clients. The collaboration and investment in Semiotic Labs are the result of ENGIE’s commitment to accelerate innovation. Our strategy focusses on further digitisation and the development of smart, integrated solutions that deliver on the energy transition. ENGIE contributes with its technical expertise and market knowledge and expects to develop more innovative business propositions for its end costumers, based on the unique knowhow of Semiotic Labs. ”
“Electric motors play an important role in industrial processes,” explains UNIIQ Fund Manager Liduina Hammer. “When these motors fail, it results in unwanted downtime and can lead to high costs. With this joint investment, Semiotic Labs is now able to test and validate its technology with clients,” adds Hammer. She continues, “The addition of Semiotic Labs to UNIIQ’s investment portfolio marks the first investment in the ‘Internet of Things’.”
Production process shutdowns become unnecessary
Stopping production processes to carry out preventative maintenance on machines or to repair a breakdown is very costly. Many companies face a major challenge in preventing and limiting such downtime. With the help of Semiotic Labs technology, it is possible to predict when machines or machine components are at risk of breaking down. Thanks to the use of condition based maintenance (CBM), maintenance is only performed when there are signs of decreasing performance or an anticipated failure.
This new, advanced method cuts costs and has a positive effect on productivity because less preventative maintenance is required. With self-learning algorithms, variations in power consumption are detected, reported and displayed on a dashboard. This gives clients insight into the condition of the machines and allows them to decide when a machine can undergo planned maintenance.