Photo - ChemTech
32463

ChemTech

OptimEase - CHEMTAB

USA, New York
Market: Internet and IT, Petroleum refining, Production, Chemistry, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 17.10.2018
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equalizer from 2000
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Idea

Our software product, which has successful implementations, allows to efficiently operate the industrial plants using AI and ML technologies.

Current Status

Product implementation. We have successfull commercial product implementations in a several industrial plants.

Market

Customers, which has an industrial plants in different industries - Chemical production, oil refinery, petrochemical, oil&gas processing, fertilizers.

Problem or Opportunity

Increasing efficiency of Industrial plants:
- Increasing productivity
- Reducing losses of target products
- Reducing output of by-products
- Reducing cost per unit
- Icrease energy efficiency

Solution (product or service)

Product consist of 2 models:
- Thermodynamic model of the Customer's plant
- Statistical model of the Customer's plant, which is based on AI technologies, using historical and online data from the Customer's plant.
Combination of these 2 models allows to predict the changes in operation regime of the plant in a period of up to 1 hour in the future and allows to recommend the operator most effective way to operate the plant.

Competitors

AspenTech, Honeywell, Yokogawa

Advantages or differentiators

- Combination of two type of models
- Possibility of Integration the product's software to the Customer's existing control system or to the low-cost tablet
- Lower price of product
- High effect of product's implementation for Customers (up to $18 mln per year)

Finance

Direct sales of Chemtab to the Customers.

Our plans:
In first year - to earn $1 mln
In second year - to earn $1,5 mln
In third year - to earn $3,5 mln
In forth year - to earn $7,5 mln
In fifth year - to earn $12 mln

Money will be spent on

- Increasing of production the Chemtab
- Upgrading the version of Chemtab
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Finance
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