21 Mar 2016 10:37
21 March 2016
Arria NLG plc
("Arria NLG", or "the Company")
Partnership Agreement with INOVX
Arria NLG plc (AIM: NLG), a leader in the development and deployment of Natural Language Generation ("NLG") technologies, is pleased to announce a new partnership agreement with INOVX Solutions Inc., a global leader in advanced asset integrity management software in the Oil and Gas industry.
The partnership will see Arria's unique NLG Platform providing real-time advanced data analysis and commentary to INOVX's 3D asset modeling software. Through its 'Asset Virtualization®' INOVX generates virtual environments to allow field assets to be monitored and managed through interaction with 3D models. This partnership will further enhance the INOVX user's experience by communicating expert insights written up by Arria's NLG Platform in real time. Work will commence to integrate Arria's software and if successfully deployed the Company could start receiving licence revenue during 2017 from INOVX.
Embedded subject matter expertise is a key feature of the Arria NLG Platform. It enables companies, such as INOVX, to capture years of specialized field knowledge into software that the company and its users can then retain for years to come. Arria NLG uses its patented Natural Language Generation technology to create a 'Virtual Data Scientist' to analyze and communicate what is happening in the data using the language and terminology specific to the company and its users.
The partnership joins two leading Artificial Intelligence technologies at a crucial point of development for 'giving a voice to the Internet of Things'. With the application of Arria's NLG Platform, INOVX will make a marked step forward to innovate its product with the power of advanced NLG from Arria.
Stuart Rogers, Chairman and Chief Executive, Arria NLG commented: "This is a great application of Arria's core technology. With INOVX the NLG Platform truly becomes the voice of the engineering expert monitoring an oil and gas refinery or similar asset. INOVX allows controllers to swoop through a complex plant asset in a true virtual representation, allowing incidents and issues to be quickly identified and acted upon. Our NLG component tells operators what is happening beyond what they are seeing virtually, and can even provide recommendations as to what actions to take next."
John Bell, Chief Executive Officer, INOVX notes: "We consistently seek compelling technologies that can further improve the operational efficiency of our customers' critical assets. By linking INOVX's V-Suite products to Arria's NLG technology we feel we have a game changer. A true virtual Artificial Intelligence monitoring and informing controllers as to the state of both their downstream and upstream assets."
For further information, please visit www.arria.com or contact:
Arria NLG plc Stuart Rogers Chairman and Chief Executive | Tel +44 (0)20 7100 4540 |
Allenby Capital (Nominated Adviser & Joint Broker) Nick Naylor Jeremy Porter James Reeve | Tel: +44 (0)20 3328 5656 |
MSL Capital Markets (Lead Manager) Andrew McDouall Justine Dunnett Peter Lynds | Tel: +64 (0)4 472 2716 |
Stockdale Securities (Joint Broker) Antonio Bossi Robert Finlay | Tel: +44 (0)20 7601 6100 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Heather Armstrong | Tel: +44 (0)20 3053 8671 tim.metcalfe@investor-focus.co.uk graham.herring@investor-focus.co.uk heather.armstrong@investor-focus.co.uk |
Ruder Finn (PR USA) Scott Beaver (West Coast) Brianna Mulligan (East Coast) |
Tel: +1 541-326-5847 Tel: +1 203-246-1304 |
Arria NLG
Arria NLG's core product is known as the Arria NLG Platform, a form of artificial intelligence software, specialized in extracting information from complex data sources and communicating that information in natural language (i.e. as if written by a human). The scientific foundation for the Arria NLG Platform is based on more than 30 years of research and development by the Data2Text Founders at the University of Aberdeen. For additional information, visit www.arria.com. Follow Arria NLG on Twitter, LinkedIn, Google+ and YouTube.
About INOVX:
INOVX, founded in 1999, provides a platform and solutions for Asset Virtualization® to companies in the process industries worldwide. INOVX's RealityLINx® product enables the creation, management and access to high fidelity three dimensional views of plant assets. These views are used in daily work practices to better communicate and navigate all asset information. INOVX solutions support many plant functions such as reliability, safety, operations, maintenance, inspection, and engineering. INOVX is a pioneer and thought leader in the application of laser scanning technology for the creation of accurate and precise three dimensional models of existing facilities. This Asset Documentation Service offers a reliable and proven way of creating and maintaining the three-dimension asset models. INOVX is headquartered in Irvine, California. For more information please visit www.INOVX.com.