Modelon and Iquant Consulting have entered a strategic partnership to deliver a digital twin-based approach for the predictive maintenance of power plants and energy infrastructure.
Most predictive maintenance solutions available today do not involve the physical modeling of critical components of an asset and are based on assumptions of component performance. This can result in lower accuracy of maintenance timelines and sub-optimal performance.
For a stronger predictive maintenance solution, Iquant Consulting and Modelon have formed a strategic partnership to combine their respective expertise in asset management and physical system simulation. Together, the two companies bring decades of experience with leading energy brands across the Americas.
Modelon’s technology accurately models physical systems, allowing for the analysis of a real asset, including fluid dynamic behavior, heat transfer, and mechanical dynamics. This complements Iquant Consulting’s asset health platform, which processes simulation data to predict failure modes with high clarity and certainty.
Leading up to this partnership, Iquant Consulting learned of a project delivered by Modelon that used Modelon Impact to generate a digital twin of a solar power plant to run in SAP Asset Performance Management cloud. Iquant Consulting contacted Modelon to find an organization filled with industry experts with extensive domain knowledge, including asset management, and experience with Fortune 500 commercial accounts.
Iquant Consulting will deliver multiple pilot projects using Modelon Impact, Modelon’s cloud-based system simulation platform, in combination with PRODIGIO, Iquant Consulting’s predictive maintenance platform. Each pilot project will consist of an all-inclusive solution including licenses and training on both platforms, as well as designated experts from Modelon and Iquant Consulting.
“Modelon is excited about our partnership with Iquant Consulting. We know Modelon Impact can significantly improve engineering innovation of industrial systems, from the design phase through deployment and maintenance. Iquant Consulting brings expert domain knowledge and a track record of success delivering digital twin solutions for their commercial customers. Together we can advance the benefits of system simulation within the energy industry” said David Higbie, Chief Commercial Officer at Modelon.
This collaborative engagement is available to companies from all regions starting today. Companies who are selected for this engagement will experience an end-to-end digital twin solution for predictive maintenance and asset management. This includes scoping the customer’s assets, assisting the customer in building physical models for the assets, discovering, and forecasting the most relevant failure modes of these critical assets, as well as quantifying the effectiveness of maintenance tasks over time to improve asset performance.
“For Iquant Consulting to collaborate with Modelon as a partner is to have one of the major players in the coming years in terms of technological revolution. Their projects in physics-based system simulation are extremely innovative and of a level that can compete with anyone. This works perfectly with our knowledge of industrial operations, our innovative drive, and the needs of our customers that exist in the maintenance area to have early warnings of failure. We’re here to deliver one of the best solutions that exist in the market for asset health monitoring.” said Cristian Solís Calderón, Partner at Iquant Consulting.
For more information on how your company can take advantage of this solution, visit Iquant Consulting’s landing page.
Modelon is a Swedish company that offers systems modeling and simulation software meant to accelerate product innovation, development and operations at companies on a global scale. Modelon’s flagship product, Modelon Impact, is a cloud-native system simulation software platform featuring a collaborative browser-based interface and thousands of proven models and components spanning a broad range of applications.
About Iquant Consulting
Iquant Consulting is a leading consultancy and solution provider in Latin America for the implementation of SAP for asset management within a wide range of industries and locations. Equipped with an expert consulting team, Iquant Consulting has delivered numerous projects for predictive maintenance, asset reliability, and more.