ABB in the UK signs an MoU with asset integrity management business Metegrity to bring a new solution to market that will tackle asset downtime by optimizing asset strategy and increasing visibility of equipment performance in real time to better manage operations and interventions.
Combining ABB’s deep domain expertise, data analytics and industrial AI capability with Metegrity’s leading asset integrity management and risk based inspection software, customers will be able to perform advanced risk analysis on their assets with the intent of increasing asset reliability, reducing maintenance costs and turnaround time as well as boosting up-time.
In addition, the new collaboration will streamline compliance reporting, moving away from a traditional paper-based approach or fragmented systems to an integrated digital one, with all asset data stored in a central, easily accessible database for a single source of truth. This will enable operators to instantly access insights on the condition of specific assets, at a micro or macro level, in the event of an incident or ahead of an audit.
Martin Fingerhut, CEO from Metegrity said: “Asset integrity management is a critical element of successful operations but remains an area where many businesses are yet to digitalize. Working with ABB, we are now able to provide an end-to-end solution to customers to help them on their digital journey in a way that maximizes asset productivity and output.”
Troy Stewart, lead for ABB Energy Industries UK & Ireland, commented: “The global pandemic has pushed industry to innovate like never before and automation, AI and machine learning is becoming increasingly critical in order to build and ensure resilience of infrastructure and operations."
The MoU builds upon the success of their first project together with downstream operator MOL Group, announced last September. The new relationship is particularly well suited for midstream and downstream operations, where companies can increase operating cash flow by make the most of their valuable assets.
Stewart continued: “There is global demand for this within the process industries and our focus initially will be the rolling out of this solution to customers in the UK and beyond, before then exploring opportunities across other oil and gas, chemicals and power markets.”
Metegrity is the leading asset integrity management software company, offering best in class enterprise solutions that are highly configurable and strategically tailored to unique business needs. Metegrity empowers asset intensive industries in oil and gas operations and chemical manufacturing to achieve operational efficiency with its complete line of products. With the addition of Asset Integrity Process Safety Management, Metegrity has set a new bar for Asset Performance Management. Metegrity has been the trusted name in asset integrity management since 1992, with 850 facilities over 5 continents managing $550 billion in assets. metegrity.com