NEWS + BLOG
Akselos and EPFL score additional innovation grant to bring groundbreaking technology to market
Akselos S.A. and EPFL have finalized a $1-million deal with the Swiss Commission for Technology and Innovation (CTI) to empower predictive maintenance with engineering simulation, big-data and machine learning technologies.
The CTI is a Swiss Government Agency responsible for promoting the highest standards in science-based innovation. This includes financial support through grants awarded to research and development projects that have the potential to make a significant global impact. The exclusive grant has been awarded to facilitate joint research and development between Akselos and EPFL to bring the concept of a smart, connected asset to market.
Akselos refers to the smart, connected asset as a Digital Guardian – a concept that will combine the company’s engineering simulation software with sensors and big-data analytics to create an exact virtual replica of an asset in its current environment. This will give asset operators real-time access to the condition of their asset anywhere and anytime, and allow a move towards predictive maintenance.
Thomas Leurent, Akselos’ Chief Executive said: “Akselos is headquartered at EPFL’s Innovation Park, a major global innovation hub, and so we’re very connected to the scientific community at EPFL. The internationally renowned research teams at the institute have played an important role in helping us to develop our simulation technology, specifically when it comes to coupling it with sensor data.”
“The Digital Guardian will revolutionize how large assets are managed all over the world. The unique mix of groundbreaking technology will allow us to fix things before they break, opening up new levels of operational efficiency across industry and society.
“I firmly believe that businesses and academia need to work together to make true innovation a reality and to create a robust ecosystem to support that innovation. We’re extremely grateful to the Swiss government for encouraging this through the CTI, which has provided a significant amount of essential funding over the years to help us get to where we are today.”
The team at the Chair of Computational Mathematics and Simulation Science at EPFL, led by Professor Jan S. Hesthaven, will work on accelerating the simulation speed of Akselos’ technology for non-linear problems, optimising the placement of sensors on structures to maximise data quality, and the calibration of the models with sensor data.
“This is a very exciting project that merges recent developments in mathematics and computational science with techniques from machine learning and big data to address problems of substantial societal and financial importance,” said Professor Hesthaven, who is also the Dean of EPFL’s School of Basic Sciences. “With a goal of developing advanced Digital Twin technology for complex structures to enable predictive maintenance and risk assessment, it will result in a computational data-driven workflow that can be adopted across numerous sectors.” The CTI funding, together with further financial support from the billion-dollar Eurostars innovation fund, and the support of oil and gas supermajors, is being used to test the solution through a two-year Joint Industry Project (JIP). The JIP will prove the transformative power of the sensor-enabled engineering simulations for the oil and gas industry and beyond.
Akselos’ simulation technology can be applied to any asset-centric industry. The Chair of Computational Mathematics and Simulation Science at EPFL has significant experience in supporting R&D across industries. Among many other ground-breaking technology applications, the department was instrumental in the design process for the 31st, 32nd, and 33rd America’s Cup, working on simulations during the design process to maximise the performance of the hull.
Akselos is a digital technology company headquartered in Switzerland, with operations in Europe, the USA and South East Asia. The company has created the world’s fastest and most advanced engineering simulation technology, to protect the world’s critical infrastructure today and tomorrow. The technology has the power to revolutionise how we build and manage our critical infrastructure, and pushes the boundaries of what modern engineering and data analytics can achieve. Developed by some of the world’s best minds, the MIT-licensed technology builds something far beyond the capability of a conventional digital twin – a Digital Guardian that allows operators to not only monitor an asset’s condition in real time, but helps them to see the future.
Akselos’ is based at EPFL’s Innovation Park in Lausanne, Switzerland. The Innovation Park hosts technology-driven start-ups and established companies in an inspiring environment, with access to cutting-edge research and a large network of dynamic entrepreneurs. Integrated into EPFL, a leading technical university and research institute, the Innovation Park is connected to one of the world’s most exciting scientific communities.
EPFL’s community is composed of 14,291 people representing more than 125 nationalities — 10,909 Bachelor’s, Master’s, and PhD students; 346 professors; and 5,879 researchers, technicians, and administrative staff. Lectures are completely bilingual (English/French) from the master’s level up. Of international prestige, EPFL stands out by focusing on international partnerships, sponsorships, and joint projects between academia and industry.