Eight Solutions Inc. (ES - TSXV)
(via TheNewswire)
Vancouver, BC / TheNewswire / December 20, 2017 -- Eight Solutions Inc. (TSXV:ES) ("Eight Solutions" or the "Company") today announced a two-year licensing agreement to integrate the Cumul8 Internet of Things (IoT) data platform within each new piece of equipment sold by BID Group of Companies ("BID Group"), leading to the digital transformation of the forestry sector.
As one of the largest integrated suppliers to the wood processing industry and the North American leader in the field, BID Group will leverage the cloud-based Cumul8 platform to bring their turnkey mills and machines into a new "digitally" connected mill system. By implementing Cumul8 inside each of their new machines, BID Group will extend their client care by providing even greater actionable insights and predictive analytics on both operational and machine health, resulting in more optimized mills, reduced downtime, and higher returns on capital investment.
The Cumul8 platform is currently being implemented at two recently completed turnkey facilities with additional implementations scheduled for 2018.
"The fourth industrial revolution, driven by IoT and by the need to predict outcomes, is upon our industry," said Alistair Cook, President and CEO of BID Group. "Integrating Cumul8 within all of our new machines will give our machines, and therefore our clients, the ability to move into the world of a fully connected data stream. This allows for the rapidly expanding world of machine AI and prediction. Our partnership with Cumul8 will help us transform the forestry industry and we are excited to continue working with such an innovative team."
Cumul8 collects, stores, monitors, and analyzes operational and performance data from disparate sources in real-time. Cumul8 has a powerful visual toolkit allowing users to easily create dashboards as well as a flexible transform editor for combining different streams of data to create Key Performance Indicators most relevant to an operation. The toolkit gives deep historical, live, and future event prediction all in one visual system. Sentinel, the data science engine powering the Cumul8 platform, uses proprietary machine learning algorithms to enable predictive maintenance and provide alerts when "out of normal" events occur. Real-time, broad collection of raw disparate machine data transforms the concept of history, now, and into the future and allows for faster communication and understanding for both the engineer creating the machines and the client using these machines.
As part of the agreement, Cumul8 will provide software development services to support the BID Group's rapidly growing internal digital strategy. BID Group understands that by connecting each of their machines and with the help of the Cumul8 IoT data platform, they can maximize uptime and operational efficiency through an expanded initiative of Cumul8:Inside along with their own R&D solutions.
"We are pleased to enter this next phase of our relationship with BID Group," said Rory Armes, CEO of Eight Solutions. "With their deep knowledge of the forestry sector, BID Group has been an invaluable resource as we continue to enhance and expand the Cumul8 platform. It is a company that understands that the future for the industry is a combination of amazing construction, engineered solutions, and the new growing connection to the data narrative these engineered machines are kicking out. With the ongoing support of both Alistair and the entire BID family, we are excited to lead the transformational change to the forestry industry." |
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