The partnership will bring together FutureOn’s FieldTwin and KDI’s Kognitwin platforms, supporting a comprehensive approach for designing, building and operating digital twins for energy projects.
Central to the partnership will be a focus on energy transition through the development of digital twins for renewable projects. This will include emerging sectors such as offshore wind, green hydrogen and carbon capture solutions, where many oil and gas operators are seeking solutions as part of diversification strategies.
This new partnership fully complements FutureOn’s existing partnership with Bentley Systems (NASDAQ: BSY) and its iTwin® platform, and positions FutureOn as a leading provider of integrated digital twin technology to the global energy industry.
To support the partnership KDI will invest a total of $4.5M (USD) in a single tranche investment, and join Bentley Systems as a strategic minority investor.
The collaboration with KDI also enhances FutureOn FieldTwin’s ability to integrate with other solutions, positioning it as the digital twin platform of choice for energy companies. This adaptability and compatibility with legacy systems is critical to accelerating the uptake of digital twin technologies.
Earlier this year, Accenture listed digital twins as a top-five technology trend for 2021 and the technology is widely recognised as an enabler for emissions reduction and decarbonisation. This interest has been reflected in FutureOn’s customer success, with more than 15 leading international energy companies now using its digital twin technology, with several more now finalizing their decision to adopt the FieldTwin open API platform as a core component of their digital twin strategy.
Pål Roppen, CEO at FutureOn, commented:
“This new strategic partnership and investment from Kongsberg Digital enables us to continue providing streamlined and effective operations for our valued customers.”
“We are excited to bring together the powerful capabilities of KDI’s Kognitwin alongside our already strong partnership with Bentley Systems and its iTwin platform. This positions our award-winning FieldTwin solution as one of the leading integrated digital twin solutions in the global energy industry.”
FutureOn’s goal is to support its customers to achieve their net zero ambitions, using its data-driven, cloud- based platforms. By using FutureOn’s digital solutions, energy companies can gain significant efficiency improvement, create savings across CAPEX and OPEX and reduce the environmental impact of their operations.
Kongsberg Digital joins Bentley on the FutureOn Board as a strategic minority shareholder.
Hege Skryseth, President of Kongsberg Digital and EVP KONGSBERG commented:
“We are very excited to contribute with our Kognitwin platform and invest in this forward-looking project together with Bentley Systems. By integrating our solutions with FutureOn’s FieldTwin platform, we will support energy innovation at the core and function as a digital accelerator of the energy industry’s shift towards net zero.”
Santanu Das, Chief Acceleration Officer, Bentley Systems said:
“The addition of Kongsberg Digital to our partnership with FutureOn is very promising. Over the past year, FutureOn has made significant progress leveraging our open iTwin® platform to accelerate FieldTwin solution development for offshore energy and renewables projects. We look forward to collaborating with both FutureOn and Kongsberg Digital in the development of open, user-focused digital twin solutions.”