DGAP-News: Razor Labs
Siemens Energy Chooses Razor Labs' DATAMIND AI For Increased Efficiency Utilizing Deep Learning

15.03.2022 / 13:05
The issuer is solely responsible for the content of this announcement.


Razor Labs (TASE: RZR) a leading developer of AI solutions for industrial manufacturing processes, today announced that Siemens Energy has selected Razor Labs to implement a pilot at its O&M site in Israel, for the station's cooling system. DataMind AI predicts the future power supply of the station, verifies the optimality of the cooling system performance and the optimum output of the station.

Optimization is a key driver of decarbonization since it allows the continuous improvement of power plant operations towards higher efficiency and less degradation. Siemens Energy seeks to constantly improve BoP ("Balance of Plant") efficiency across multiple plant components, as part of ongoing operations & maintenance activities, and DataMind AI conducts deep analysis on asset behavior to suggest measures to increase availability.

'The growing percentage of renewable energy sources on the grid is steadily increasing the pressure on gas power plants top operate more flexibly and efficiently and sustainably. We are anticipating that following a successful pilot with Razor Labs we can help improve efficiency by using data analysis solutions as part of the operation & maintenance activities,' said Kendra Rauschenberger, VP Siemens Energy Ventures.

Ori Shpigel, Head of Innovation, Siemens Energy Ltd. added: 'This solution will help understand the asset's behavior to maintain smooth operations in the plant and avoid unplanned downtime.'

Raz Roditti, Razor Labs CEO: 'We remain committed to providing solutions to the energy sector for a more efficient, sustainable environment. We are very pleased to provide Siemens Energy with a disruptive technology that enables higher levels of operational excellence and look forward to expanding our partnership in additional power stations across the globe.'

Michael Zolotov, Razor Labs CTO explained how DataMind AI predicts operational future: 'Our technology identifies hidden patterns in existing data to transform it into real time actionable insights, without any need for additional sensors or other capital expenditure. This turns heavy industrial machinery to smart devices, integrating with the machine's sensors remotely, identifying and predicting malfunctions as well as optimizing manufacturing processes, achieving accuracy and understanding even beyond human intelligence.'

Click here to view the Tel Aviv Stock Exchange filing about this agreement.

ABOUT RAZOR LABS

An AI industry leader, Razor Labs is on a mission to transform leading industries into smarter, safer and more efficient operations, helping them unlock greater value and become more sustainable. Razor Labs embodies the spirit of Israeli innovation together with a forward-thinking global perspective, and together with its multinational partners is driving change across multiple industries and numerous fields.

Contact Details

Razor Labs Ltd.

Carmen Deville

pr@razor-labs.com

Company Website

https://www.razor-labs.com/


News Source: News Direct


15.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Razor Labs
United States
ISIN: IL0011725277
EQS News ID: 1303065

 
End of News DGAP News Service

1303065  15.03.2022 

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