Akselos Delivers On The Promise Of Digital Twins For Industrial Assets

Published 9 May 2019 by Dennis Callaghan &

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Executive Summary

This report forms one in a series covering the digital twin software market which is beginning to gain traction as a new category of technology investment. One of the more innovative startups in this space is Akselos. The firm was founded in 2012 and launched its product in 2018. Akselos has raised more than $12 million in funding from public and private sources to build a digital twin platform based on the patented Reduced Basis Finite Element Analysis (RB-FEA) algorithm. Akselos claims that RB-FEA scales better than traditional FEA, enabling the creation of digital twins for larger assets. Akselos targets the upstream energy and offshore wind industries, particularly firms looking to safely keep aging equipment in the field longer by getting ahead of maintenance issues before they become major problems. Verdantix recommends that customers in these industries that are looking to embrace  Industry 4.0 practices should test out the Akselos digital twin.

Table of contents

Akselos Applies Patented Technology To Improve Digital Twin Capabilities
The Akselos Product Architecture Is Designed To Quickly Produce Digital Twins Of Complex Assets
Firms Seeking To Extend The Life Of Their Industrial Assets Should Turn To Akselos

Organisations mentioned

Alumni Ventures Group, Apache, Castor Ventures, Chevron, Chrysaor, ConocoPhillips, Equinor, European Union, Forticap, Innogy Ventures, Lloyds Register, Massachusetts Institute of Technology, Ørsted, Royal Dutch Shell, Schlumberger, Shell Ventures, US Department of Defense.

About the author

Dennis Callaghan

Principal Analyst

Dennis is a Principal Analyst at Verdantix, contributing to both the Operational Excellence and Smart Buildings practices. His current research agenda focuses on covering asset performance management technologies across both industrial and smart buildings use cases, including Internet of Things monitoring and data analysis. Dennis has over 10 years’ experience in industry research and strategy. He previously worked at 451 Research, where he led that firm’s coverage of application performance management and IT service and asset management technologies. He has written about technology as a journalist, industry analyst or marketer for more than 20 years. Dennis holds a BA in journalism from Duquesne University.

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