IntelliAM AI PLC Contract

RNS Number : 9413V

IntelliAM AI PLC

11 July 2024

 

11 July 2024 

IntelliAM AI plc

("IntelliAM" or the "Company")

 

IntelliAM AI secures DIF Lighthouse Funding Award

 

IntelliAM AI plc (AQSE: INT), the software company leveraging the power of AI and machine learning in the manufacturing industry, is pleased to announce that a subsidiary company has been named as a Lighthouse for AI and given a Digital Innovation Fund ("DIF") Lighthouse Funding Award of c.£263,000 approved for a research project to be completed during the Company's current financial year. The grant for research into the application of AI in lubrication analysis is made by The Smart Manufacturing Data Hub which is funded by Innovate UK.

 

IntelliAM AI has access to over 180 manufacturing sites in the UK and has lubrication analysis results for thousands of components from the last 10 years. Lubrication is one of the key drivers of manufacturing downtime.

 

The research project

 

● Using IntelliAM's existing data, and new data to be collected during the project, a machine learning model ("MLM") will be created to advise OEM's and SME's on best practice lubrication for their components.

● Software will be built that allows component information to be entered and the MLM will then create the grease and oil lubrication schedules automatically.

● Software will also be built that creates an on-condition lubrication schedule based on bearing condition.

● An oil analysis result checker will be created, so that organisations can upload individual oil analysis results and compare themselves to our 10 years of history, specific to the environment and component types. Any

issues will be highlighted and advice on action given.

 

This project will help reduce machine downtime on manufacturers equipment and create resilience against the reduction in engineering skills that we currently have in the UK. Sustainability will be improved as oil will only be replaced when needed.

 

This project will impact the Company on three fronts, namely improved internal productivity, new machine learning access to SMEs and a commercial product to increase sales.

 

About IntelliAM

 

IntelliAM uses AI models to proactively increase operating efficiency of the existing assets of the Company's manufacturing clients. The Group achieves this by harnessing vast amounts of data from the client's machines and operational systems processed through the IntelliAM platform to provide actionable insights for clients that encompass a broad range of areas, such as productivity, reliability and supply-chain optimisation, as well as energy efficiency and sustainability.

Enquiries:
IntelliAM AI plc Tom Clayton, Chief Executive Officer Daud Khan, Chief Financial Officer	[phone]
Oberon Capital - AQSE Corporate Adviser and Broker               Adam Pollock Mike Seabrook Jessica Cave	[phone]
Square1 Consulting - Financial PR David Bick	[phone] [phone]

 

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