Fluid Intelligence - Oil as a Service

We help heavy industry & logistics customers to cut in half waste oils streams generated and maximize operational reliability in a cost effective way.

Energy, heavy industry and logistics sectors consume over 40 million tons of new lubrication oil each year globally generating a massive streams of waste oil. Only a fraction of that oil gets a second life via circulation and re-refining.

In addition to this up to 80% of all machine bearing failures can be traced down to problems in lubrication. Cost for the industries is massive. Over $500 billion annually oil, maintenance and lost production combined.

Calendar based maintenance strategies doesn’t pay off anymore when you can make proactive maintenance decisions based on data, maintain oil performance and reduce regular oil sampling and oil changes.

Our main customer segments can be found from energy, chemical, manufacturing, pulp & paper and logistics sectors. All the companies owning production or logistics assets that consume lubrication-, insulation- or hydraulic oils.

Fluid Eye along with Oil as a Service business help our industrial customers to double their lubrication oil lifecycle and maximize operational reliability in a cost effective way. Fluid Eye see inside the oil real-time literally on a microscopic level. Our oil performance monitoring solution monitor customer’s oil real-time, gives very early warnings about potentially escalating problems and provide needed information automatically for maintaining oil performance.

We have multiple sensors in Fluid Eye solution connected to our cloud. The machine learning and machine vision algorithms analyze the data continuously and send alerts along with needed instructions to our customers. Customers have also their own dashboard for performance analysis and reports.

We change the way how oil is used today. Instead of buying and changing oil frequently we maintain oil performance and minimize oil changes. Our solution is a combination of mindset transformation (don’t change oil), new digital technologies (Fluid Eye) and supporting business model (Oil as a Service).

We are delivering this solution for several of our customers already today. Our customers success cases are the best evidence of our innovativeness and the way how we have been able to combine this whole solution together.

Our solution comprises of several sensors, a mobile (IoT) computing and connectivity unit and Fluid Cloud.

For measuring real-time oil performance we utilize various sensor and analysis methods. These are e.g. dielectric measurement technologies and microscopic imaging technologies among others.

Our mobile computing and connectivity unit utilized machine learning and machine vision algorithms to generate real-time analysis. It utilizes 3/4G technologies for creating a mobile connection to Fluid Cloud.

Fluid Cloud utilizes machine learning algorithms for consolidating various data streams, generating in-depth analysis and real-time prescriptions / recommendations for our customers. In addition to this it provides a dashboard and data repository for our customer’s oil data.

We have several customer success cases providing numeric evidence of our solution performance from various industries. We can install our solution into current retrofit fleets and new machines during assembly. The solution is highly scalable and is able to transform large industrial entities approach to lubrication oil. We cut in half waste oils generated.

We have currently over 15 industrial customers. This year’s target is 50-100 customers. In five years time our target is in several hundreds to thousands factories.

We want to change the way how large part of heavy industries is utilizing lubrication oils in several countries. That will mean reducing hundreds of thousands to millions of tons waste oils generation each year in the coming years.

The biggest barrier is old habits, mindset and priority. We see many times negative pay-back-period and increased operational reliability for our solution so the biggest challenge really is the way people perceive this topic and how important they keep this.

Active communication and customer education. Also public debate about climate change, circular economy and digitalization is giving us a great boost as public awareness of these topics is growing quickly.

We have five full-time and three part-time employees plus an extensive group of academic & business partners working for our solution.

We have an extensive operational level oil excellence from Scandinavian industries past ten years. Its combined with extensive skills from digitalization, master data management, machine learning algorithms, diagnostics, business development and sales.

We partner with academic research teams and business organizations within relevant technologies.

Our main customer segments can be found from energy, chemical, manufacturing, pulp & paper and logistics sectors.

Oil as a service (OAAS) business model consists of the opening fee and a monthly recurring revenue. Some of our customers pay monthly service fee for our Professional Services. Our long-term EBIT target is over 30%. Sales cycles range from weeks to some months.

We target break-even by the end of 2019. Our Oil as a Service business model comes with an opening fee and a monthly recurring revenue.

We will seek for larger investment later 2019 to accelerate our go-to-market activity.

Solve will bring us needed visibility among bigger audience. We also expect to find good links to highly talented people & partners within circular economy field.

Academic partners - research and information sharing on relevant research topics

Business partners - local industry players to become our business partners / distributors and work with us to maximize the circular economic potential our solution enables (cut in half waste oils generated)

We will use AI Innovations Prize to further develop our machine vision and machine learning based solution into a fully-fledged AI powered and automated oil performance monitoring solution. At this stage our solution monitors customers machinery automatically, generates sophisticated real-time analysis and provides early stage prescriptions for the maintenance work-force.

Our aim is to maximally automate oil performance maintenance, reduce number of work hours needed to perform hard maintenance work and people to be in touch with hazardous waste (oil).

After achieving our development objectives we can maximally focus on full-filling our mission - cut waste oils in half globally and contribute significantly to zero waste and carbon goals.

We will use GM Prize on Circular Economy to further develop our machine vision and machine learning based solution into a fully-fledged AI powered and automated oil performance monitoring solution.

Together with finalized technology we can focus on educating our customers among various industries about the mindset change that it requires to cut in half waste oil streams generated. Its not the technology itself but the new maintenance strategy along with maintenance personnel education that let this circular economy goal to be achieved. By reducing to half annual 40 million tons of new oil consumption will have a great impact globally.

_

_