Novity

Novity offers predictive maintenance and cold-start prognostics solutions for the chemical, oil, and gas industries. The company’s TruPrognostics AI engine integrates machine learning and physics-based models of equipment to enable users to predict the failure of machines and reduce unplanned downtime. Moreover, the company provides a range of IoT sensors that can be used to collect relevant data to feed into the AI engine. Novity claims that this engine provides prediction accuracies of more than 90% in production in customer locations.

The company also offers “PdM Health Check,” a service to assess the health and effectiveness of existing predictive maintenance programs​. Notably, the company originated as a spin- off from Xerox Palo Alto Research Center, a provider of print technology in November 2022. Notably, the company has over 150 patents related to predictive maintenance.