Dutch electrical data analytics firm Samotics has secured a €20 million financing deal with the European Investment Bank (EIB) to boost its research and development efforts. This investment from the EIB will improve the company’s machine health monitoring and energy efficiency solutions, while also fast-tracking the development of its next-generation integrated system, set to launch this year. This funding aligns with Samotics’ goal of enhancing reliability, efficiency, and sustainability in various industries.
The EIB Group aims to promote digitalization and innovation in Industry 4.0 technologies, including artificial intelligence and microchips, as such advancements are vital for Europe’s green and digital transitions and essential for maintaining its technological and strategic independence. Ensuring reliability and energy efficiency is crucial for both public and private initiatives in Europe focused on decarbonization and sustainability across multiple sectors. The EIB’s financing is supported by the “Future Tech” guarantee under the European Commission’s InvestEU initiative.
“This application exemplifies how artificial intelligence can significantly impact our efforts,” remarked EIB Vice President Robert de Groot. “It underscores that contemporary challenges demand innovative solutions, and this intelligent approach to anticipating issues and enhancing energy efficiency is a key component of our decarbonization strategy. We are proud to support Samotics as part of our dedication to fostering technologies and innovations essential for Europe’s competitiveness.”
“This EIB funding underscores the confidence in our technology and its transformative potential for industrial reliability and sustainability. It marks a pivotal moment for Samotics as we continue to accelerate our growth and innovation,” stated Jasper Hoogeweegen, CEO of Samotics.
The electrical signature analysis (ESA) utilized by Samotics technology is based on the idea that minor alterations in the operational features of an electric motor, which often occur prior to a failure, influence the machine’s magnetic field. This, in turn, affects the supply voltage and operating current. By employing various analytical methods, ESA offers a thorough overview of the entire powertrain, encompassing the motor, transmission, and load, enabling accurate fault predictions.
Samotics’ system emphasizes AI-driven monitoring and analysis to forecast malfunctions, identify energy inefficiencies, and deliver actionable insights. It can be installed directly within the electric cabinet, eliminating the need to access motors that are often hard to reach. The predictive analytics for malfunction detection are crucial, as these motors usually support essential infrastructure where unexpected downtime is intolerable and the costs associated with total failure are significant. Furthermore, pinpointing and rectifying energy inefficiencies can lead to substantial reductions in operating expenses.
Source: Samotics
