Baker Hughes and Augury Announce Alliance to Add Machine Health Capability to Baker Hughes
Asset Performance Portfolio
October 26, 2021
Augury’s machine health technology will further build out Baker Hughes’ integrated asset performance capability,
expanding coverage from critical assets to balance of plant machines in the energy and industrial markets
Machine health uses advanced sensors and artificial intelligence-based software to predict and prevent machine failures,
driving reliability, efficiency and sustainability for energy and industrials
Augury’s technology adds critical capability to Baker Hughes’ broader industrial asset management solutions
HOUSTON & NEW YORK--(BUSINESS WIRE)--Oct. 26, 2021-- Baker Hughes (NYSE:BKR) has announced an investment in and a multi-year
commercial alliance with Augury, a machine health solution provider, to deliver an expanded set of asset performance capabilities, providing
connected data, analytics and insights into energy and industrial assets. The alliance builds on Baker Hughes’ existing asset performancemanagement (APM) capabilities and domain expertise in critical industrial assets. Through the alliance, customers will now benefit from end-to-end
visibility into the health and performance of their critical assets to balance of plant (BOP) machines, resulting in reduced downtime, increased
availability, and lower maintenance costs. Extending Baker Hughes’ APM solutions with Augury’s machine health capabilities will also be important toBaker Hughes’ efforts to accelerate digital transformation and decarbonization in the energy and industrial sectors.
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APM solutions aim to improve the reliability and availability of physical assets in some of the world’s most demanding industrial sectors, where APM
software can deliver up to a 30% reduction in maintenance costs and up to a 45% reduction in unplanned downtime. Adding Augury’s advanced
sensor technology and machine health solutions to Baker Hughes’ APM offering will increase predictive capabilities for customers, and can also help
lower energy consumption and emissions in the industrial space, which currently consumes 36% of the world’s energy. The APM market is expected togrow at a compound annual growth rate of 10.1%, according to the APM Market Global Forecast to 20261.
Baker Hughes currently offers APM solutions built on Bently Nevada’s System 1 cloud-enabled platform. Bently Nevada is a leader in critical asset
condition monitoring and protection, and System 1 provides connectivity to both critical and essential machines, monitoring tens of thousands ofmachines for more than 1,000 global customers across heavy industrial segments. Augury’s machine health technology will integrate with System 1and includes advanced sensors, artificial intelligence (AI) diagnostics, and a cloud-based platform. Augury also brings significant domain expertise inBOP, including experience from the pulp and paper, pharmaceuticals, chemicals, and food & beverage industries. The companies’ combined expertiseand offering will provide customers with a single, simplified view and deep insights into their entire fleet of industrial assets to drive visibility for reduced
downtime and improved operational efficiency.
“This alliance is a critical addition to our industrial asset management capabilities as we continue to strategically invest for growth by delivering
integrated APM solutions for our energy and industrial customers.” said Lorenzo Simonelli, chairman and CEO at Baker Hughes. “We share thesame strategic vision of combining critical equipment engineering with digital analytics, and Augury also has broad technology and skillsets thatcomplement our existing offering to improve efficiencies, productivity and operational excellence.”“Our vision is to build a world where people can always rely on the machines that matter,” said Saar Yoskovitz, co-founder and CEO of Augury.
“Now we're bringing that vision to more machines in more sectors. By combining our machine health solutions and expertise with Baker Hughes, wecan offer an unmatched suite of AI-driven industrial APM analytics and insights for energy and industrial assets. Together, we can transform themanagement and operation of the machines that use, generate, and move the world’s energy.”
The alliance marks the latest development for the Baker Hughes integrated APM offering and follows the recent acquisition of ARMS Reliability, aglobal provider of asset strategy and reliability solutions to some of the world’s largest industrial companies. As Baker Hughes expands its APMcoverage across customers’ plants, enterprise AI solutions from BakerHughesC3.ai will complement the APM software capability for scaled
deployments and deliver predictive insights on larger quantities of operational data. Developing an integrated APM capability, along with emissions
management and asset inspection capabilities, is pivotal to Baker Hughes’ industrial energy technology strategy, supporting outcome-based solutions
for enhanced industrial asset management.
Baker Hughes will take a minority stake in Augury and will also assume a seat on Augury’s Board of Directors.
About Baker Hughes
Baker Hughes (NYSE: BKR) is an energy technology company that provides solutions for energy and industrial customers worldwide. Built on acentury of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer,cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.
About Augury
Augury’s mission is to build a world where people can always rely on the machines that matter, by providing our customers with superior insights into
the health and performance of the machines they use to make products, deliver services and improve lives. To learn more, visit Augury.com.
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Media Relations
Baker Hughes Media Relations:
Stephanie Price+1 281-605-8399
stephanie.price@bakerhughes.com
Augury Media Relations:
PAN Communications+1 781-223-4767
augury@pancomm.com
Investor Relations:
Jud Bailey+1-281-809-9088
investor.relations@bakerhughes.com
Source: Baker Hughes