ABB and UptimeAI join forces to advance Asset Health and Performance Management

ABB Motion has announced a strategic investment through ABB Motion Ventures in the AI start-up UptimeAI, aiming to transform how industrial customers manage the health and performance of motors, drives, and related assets. The transaction consists of ABB taking a minority stake in UptimeAI. Financial details of the investment were not disclosed.

The collaboration leverages machine learning and expert systems to provide customers with deep insights into asset performance, failure predictability, and reduction of maintenance costs and risks. With over 1,000 failure modes covered by advanced AI/ML algorithms, the partnership is set to deliver outstanding reliability and efficiency. It does so by leveraging next-generation asset performance management services driven by AI/ML predictive maintenance and proven industry expertise.

The initiative will initially focus on heavy asset industries, starting with addressing the needs of Cement, Metals, and Water Pipes sectors in India. By introducing tailored solutions for these critical industries, the partnership seeks to enable companies to achieve operational excellence, reduce unplanned downtime, and enhance overall productivity.

"Through this investment, we reaffirm our commitment to delivering innovative solutions that empower industrial customers to manage their assets effectively and sustainably", said Soenke Kock, ABB Motion Services R&D Manager and Head of Development IoT and Analytics. "By joining forces with UptimeAI, we are applying advanced technology and expert knowledge to strengthen asset health and performance management. With reliable data insights, decision-makers are equipped to identify gaps, optimize energy efficiency, and exercise tighter control over operations, ultimately increasing asset availability and improving profit potential."

"We are thrilled to partner with ABB Motion to deliver solutions that combine our expertise with their deep industry insights", added Jagadish Gattu, Founder and CEO, UptimeAI. "By joining forces, we will optimize operations and address the unique challenges faced by industrial customers such as root cause analysis, continuous improvement, and knowledge management."

Shares of ABB India Limited was last trading in BSE at Rs. 5190.50 as compared to the previous close of Rs. 5100.00. The total number of shares traded during the day was 9928 in over 3189 trades.

The stock hit an intraday high of Rs. 5213.20 and intraday low of 5001.85. The net turnover during the day was Rs. 51139812.00.

Source : Equity Bulls

Keywords

ABBIndia INE117A01022 ABBMotionVentures AIStartUp UptimeAI