Ten years ago, the Akselos story began from an MIT spin-out program. With 150 man-years of research, Reduced-Basis Finite Element Analysis (RB-FEA), a new algorithm unlocking the use of complex engineering calculations in asset operations, became the core technological foundation of the company.
For the last ten years, Akselos has helped customers protect and get more value from their critical energy infrastructures worldwide.
In other words, time to celebrate what we have achieved!
Over the last ten years, Akselos has built up its reputation in the integrity industry. In 2015, Akselos had its first breakthrough into the industry with Shell’s Joint Industry Project. Riding off on this success, we expanded our technology’s reach into other industries that were excited about applying an innovative approach to their integrity management & assessment.
Industries such as mining, wind, upstream, downstream oil & gas and even hydroelectricity are some of the areas where we are able to help customers facing challenges in their operations. And in every single occasion, it has been exhilarating to see the positive impact we have been able to achieve while growing our offering as we scaled.
So whether it is offshore jackets, process pressure vessels, wind turbines, FPSOs, compressors, blowers, or bearings & floaters, time and experience have shown us the breadth of the insights that can be delivered with our technology in order to drive production and asset lifetime.
The reputation that Akselos has built over the past ten years would not have been possible without the support of partners and individuals believing in us.
In 2016, fresh off the success of the Shell Joint Industry Project, Akselos received a grant from EUROSTARS to advance the Structural Integrity Management of offshore assets. Then, in 2018, we concluded our Series A funding, which saw a strong investor syndicate (Innogy Ventures and Shell Ventures) support the next stage of growth with their trust in Akselos.
The most significant recognition and testament for Akselos’ software capabilities came in 2019 when the U.S. Department of Energy entrusted Akselos to join the Advanced Research Projects Agency-Energy (ARPA-E) program. This program saw Akselos working alongside Principle Power Inc. to develop and operate the WindFloat Atlantic (WFA) Project, one of the world’s only floating offshore wind farms.
This recognition snowballed into 2020 when Akselos was amongst the 100 companies chosen by the World Economic Forum’s Technology Pioneer 2020 award. The World Economic Forum chose Akselos for our contribution to accelerating the energy transition via real-time Digital Twins. Something we continue to be very proud of.
Coming into 2021, after a year of adapting to the pandemic, Akselos continued to thrive. We contributed to The Davos Agenda, joined the Global Wind Energy Council as a member and contributed to the COP26 coalition.
Most recently, in 2022, Akselos presented at CERAWeek 2022 and joined S&P Global, Devon Energy and Accenture in a panel about Digital Twins.
Academic validation and industry approval aren’t the only things that have grown in Akselos; the number of employees has also increased.
From the 3 founders of the company at MIT, Akselos has grown tenfold in the past ten years. With around 100 people working across 8 locations: Lausanne (Switzerland), Boston, Houston ( U.S.), London (U.K.), Portugal, Netherlands, United Arab Emirates & Ho Chi Minh City (Viet Nam).
Being a global team with around 100 people, we strive to work together seamlessly to bring the best to our current and future clients.
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Speaking of the future, 2022 will be a pivotal year for the energy industry, as action is needed on a faster and grander scale than ever to deliver the energy transition in the wake of COP26, the IEA Net-Zero roadmap, and a changed energy dynamic as a result of the war.
For Akselos, we also want to continue to grow our impact in the energy industry. The key ways we do that are by enabling you to get more life and value from your existing energy assets, and by applying our technology in the design of renewable infrastructure to drastically bring down the Levelized Cost of Energy. And we are looking forward to collaborating with you to make this happen. Here’s to another ten years of Akselos together with our customers and partners!