Dutch-based electrical data analytics company Samotics has signed a €20 million financing agreement with the European Investment Bank (EIB) to accelerate its research and development activities. The EIB’s investment will enhance the company’s solutions regarding the monitoring of machine health and energy efficiency, while accelerating work on its next-generation integrated solution, planned for launch this year. The funding aligns with Samotics’ mission to make industries more reliable, efficient, and sustainable.
The EIB Group wants to accelerate digitalisation and innovation in Industry 4.0 related technology, such as artificial intelligence and microchips, as this kind of innovation is key to Europe’s green and digital transitions, and crucial in ensuring its technological and strategic autonomy. Reliability and energy efficiency are instrumental for Europe’s public and private efforts for decarbonisation and sustainability across different sectors. The EIB’s financing benefits from the backing of the “Future Tech” guarantee within the InvestEU initiative of the European Commission.
“This is one those applications where the use of artificial intelligence can really make a difference.“ stated EIB Vice President Robert de Groot. “It highlights that modern challenges require modern solutions, and this intelligent way to pre-empting problems and optimising energy efficiency is an important element in our decarbonisation journey. As part of our commitment to supporting technology and innovations critical for Europe’s competitiveness, we are proud to back Samotics.”
The EIB’s financing benefits from the backing of the “Future Tech” guarantee within the InvestEU initiative of the European Commission
“This funding from the EIB highlights the trust placed in our technology and its potential to revolutionise industrial reliability and sustainability. It’s a defining moment for Samotics as we further accelerate our growth and innovation journey,” said Jasper Hoogeweegen, CEO of Samotics.
The electrical signature analysis (ESA) that Samotics technology applies, relies on the principle that subtle changes in the operational characteristics of an electrical motor, often occurring before a failure, impact the machine’s magnetic field. This affects the supply voltage and operating current, and by using various analytical techniques, ESA provides a comprehensive overview of the entire powertrain, from motor to transmission to load, to accurately predict faults.
Samotics’ system specifically focuses on AI driven monitoring and analysis to predict malfunctioning, detect energy inefficiencies and provide actionable recommendations. The system can be installed directly in the electric cabinet, avoiding the need to access the often-inaccessible motors. The predictive analytics for malfunction detection are vital, as these motors typically support critical infrastructure where unplanned downtime is unacceptable, and the costs of complete failure are high. Additionally, identifying and correcting energy inefficiencies can significantly reduce operating costs.
