HOUSTON, November 19, 2020 — Cognite, a global industrial AI software company and Wood, a global engineering and consulting company, have agreed to a strategic partnership that will accelerate industrial transformation by creating AI solutions that enable more connected, sustainable and data-driven operations for heavy-asset, infrastructure and industrial clients.
The collaboration plays to the strengths of both companies to deliver value faster and at scale, combining Cognite’s flagship product, Cognite Data Fusion with Wood’s multi-sector domain knowledge, data extraction and technology integration expertise, which is proven to optimize productivity and performance.
Both companies are committed to deploying performance solutions that address the needs of energy transition, with the collaboration allowing for greater understanding of existing assets and operations, liberating vast amounts of data trapped in fragmented and legacy systems.
“Wood and Cognite will leverage physics-based models and AI to quickly provide advanced analytics that drive more profitable and sustainable industrial operations," said Mark House, Wood’s president of automation and control. “Through the partnership, we are addressing a familiar challenge in industry when operational and information technology converge. By combining Wood’s world-leading process optimization platforms like Virtuoso®, and our end-to-end asset and delivery know-how, into packaged and scalable solutions with Cognite’s technology, we can unlock significant value for clients."
“Working with Wood presents a fantastic opportunity for us to deliver value faster and at scale by playing to each of our strengths. The partnership embraces scalable innovation and value realization which is accelerated by combining what both Wood and Cognite are best known for in the market,” says John Markus Lervik, CEO, Cognite.
Through Cognite Data Fusion, data will be transformed from siloed raw information into meaningful digital insights in real-time, to make faster and better-informed business and operational decisions.
“Adding Cognite’s advanced AI data contextualization and operations product to Wood’s technology partnership ecosystem is an exciting step as we innovate in connected operations solutions,” said Darren Martin, Wood’s chief technology officer. “This collaboration will further enable us to meet the ambitions of our clients’ and empower them to be future ready now.”
Wood is a global leader in engineering and consultancy across energy and the built environment, helping to unlock solutions to some of the world’s most critical challenges. We provide consulting, projects and operations solutions in more than 60 countries, employing around 45,000 people. www.woodplc.com
Cognite is a global industrial software-as-a-service (SaaS) company supporting the full-scale digital data driven transformation of heavy-asset industries around the world. Our core product, Cognite Data Fusion (CDF), is an industrial data operations and contextualization platform, putting raw data into real-world industrial context, enabling rapid application & solution creation at scale. CDF powers companies with contextualized OT/IT/ET data to develop solutions that increase safety, sustainability, efficiency, and drive revenue. Visit us at www.cognite.com and follow us on Twitter @CogniteData or at LinkedIn: https://www.linkedin.com/company/cognitedata