15th July 2019
EIT Health partner developed a new failure prediction system for Industry 4.0
This Big Data based technology, industrialised and patented by NEM Solutions, with TECNALIA cooperation, is already applied worldwide in the wind power and railway sectors. The Prize was awarded by EARTO, the highest European association in the field of innovation.
TECNALIA, the technological research and development centre, has received the highest award in the field of European innovation for its development of a failure prediction system for Industry 4.0 patented by NEM Solutions.
The European Innovation Award was jointly granted to TECNALIA and NEM Solutions by EARTO, the highest European association in the field of innovation, for the “Impact Delivered” category which rewards the best technology transfer practice. The award has been made public tonight in Brussels, during the Innovation Award ceremony.
It is worth highlighting Brussels underground is in fact one of the users of this award-wining technology.
Failure prediction in Industry 4.0 may be conducted thanks to the application of Big Data which facilitates efficient management and smart analysis of large data volumes in industry to maximise productivity and competitiveness on a global scale. Thus this technology called AURA helps forecasting expected behaviour and identifying future failures in key corporate assets such as wind turbines or railway subsystems.
Read more in the official press release below.