May 17, 2020

Energy Firms Amp Output with Analytics

Admin
2 min
Big data
Equipment failures arent merely costly – they can be dangerous for employees and disastrous for the environment. Predictive analytics from busine...

Equipment failures aren’t merely costly – they can be dangerous for employees and disastrous for the environment. Predictive analytics from business analytics firm SAS helps aircraft maintenance providers, manufacturers, energy companies and more use big data collected from machines and equipment to predict issues before they cause brutal disruptions.

SASPredictive Asset Maintenance helps companies like POSCO and Shell Exploration and Production Co. avoid unplanned downtime and keep production goals on target. With SAS Visual Analytics, companies can analyze data to find systemic root causes, ensure higher safety and protect production commitments.

Industry experts identify unscheduled downtime as one of the biggest challenges facing energy processing plants. The ARC Advisory Group says unscheduled shutdowns and slowdowns account for as much as 7 percent of lost production. The U.S. Department of Energy estimates that a functional predictive maintenance program could create a tenfold return on investment, increasing production up to 25 percent.

 “Competitive pressure and increasingly tight regulations require analytical solutions that exceed traditional asset management systems,” said Reinhard Hoene, SAS senior product manager. “Organizations that couple predictive analytics with visual analytics essentially have a data ‘GPS’ helping them find the critical information in their mountain of data. Being able to see performance degradations early and take preventive measures before an issue becomes a costly or dangerous problem – that is priceless.” 

For large-scale projects such as massive defense contracts, a critical lack of predictive analytics is almost like flying blind.

“Operational disruptions and catastrophic accidents often happen when maintenance procedures aren’t followed reliably,” said Andrew Hess, president of the PHM Society and former lead for prognostics and health management (PHM) on the U.S. Department of Defense’s F-35 Joint Strike Fighter Program. “When you can’t accurately predict impending failures and estimate useful life remaining, you risk significant reduction in system availability.”

Predictive Asset Maintenance can help a company move from a reactive “What’s happening?” to a predictive “What needs service or replacement now to keep production humming during the next service cycle?” Recent upgrades offer an expanded data model, greater data selection options and a flexible framework that supports various industries. 

The software combines data integration, visualization, descriptive and predictive analytics, and business intelligence to create an unbiased, big-picture view of asset performance. These capabilities increase uptime while optimizing maintenance costs and asset life cycles by predicting events that cause outages. Future asset or process failures are easier to solve because prior mitigation efforts are recorded in a centralized knowledge repository, facilitating speedy root cause analysis.

Visual Analytics is a high-performance, in-memory solution designed to quickly explore large amounts of data. Users can spot patterns, identify opportunities for further analysis and convey visual results via Web reports or iPadand Android tablets.

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Apr 16, 2021

Hydrostor receives $4m funding for A-CAES facility in Canada

energystorage
Canada
Netzero
Dominic Ellis
2 min
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction...

Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.

The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction. 

The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.

The project has support from Natural Resources Canada’s Energy Innovation Program and Sustainable Development Technology Canada.

Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.

The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”

A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth. 

Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."

The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.

Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019. 

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