TORONTO, Ont. – May 13, 2021 – Canvass Analytics Inc. (“Canvass AI”), a global leader in AI for the industrial sector, today announced that their industry-leading AI solution is enabling one of the world’s largest geothermal companies to accelerate its vision of achieving a decarbonized and regenerative future.
Globally there is a shift away from fossil fuels to more sustainable renewable energy sources in efforts to cut the world’s Greenhouse Gas (GHG) emissions, in which the energy-related carbon dioxide emissions represent two-thirds of all GHGs. Adopting renewable energy is therefore crucial for a sustainable future. It also puts greater pressure for renewable energy generators to enhance resiliency of their plant assets and deliver reliable power generation output.
“Canvass is proud that one of the world’s largest geothermal companies is leveraging the Canvass AI platform to contribute to its country’s energy security by generating reliable, environmentally sustainable energy. With the power of AI at their fingertips, plant engineers are proactively optimizing their plant operations and the energy company is now boasting a track record of plant availability and reliability,” commented Humera Malik, CEO of Canvass AI.
Leveraging the Canvass AI Platform, the geothermal company is now reducing downtime caused by well collapses by up to 83%. By providing a well collapse risk alert system, the operations team is using the Canvass AI Platform to minimize the disruption to operations and cutting the time to revive wells from three days to less than 12 hours. Well collapses pose a significant operational risk for energy providers and therefore it is essential for the operations teams to recover existing wells and prevent future losses.
Built specifically for the industrial sector, Canvass AI puts the power of industrial AI in the hands of engineers by providing an easy-to-use no-code platform to apply and scale AI across operations. Canvass AI works for industrial engineers by empowering them with the data-driven insights they need to augment their expertise and control their operations. Canvass AI customers are achieving immediate time to value in days, not months– seeing improvements across their operational performance to support their sustainability and profitability goals. Canvass’s customers span the automotive, food and beverage, chemicals, energy, metals and mining, oil and gas, and pharmaceutical sectors.