Baker Hughes has announced an investment in and a multiyear commercial alliance with Augury, a machine health solution provider, to deliver an expanded set of asset performance capabilities, providing connected data, analytics, and insights into energy and industrial assets. The alliance builds on Baker Hughes’ existing asset performance management (APM) capabilities and domain expertise in critical industrial assets. The alliance will allow end-to-end visibility into the health and performance of critical assets to balance of plant (BOP) machines, resulting in reduced downtime, increased availability, and lower maintenance costs. Extending Baker Hughes’ APM solutions with Augury’s machine health capabilities will also be important to Baker Hughes’ efforts to accelerate digital transformation and decarbonization in the energy and industrial sectors.
APM solutions aim to improve the reliability and availability of physical assets in some of the world’s most demanding industrial sectors. Adding Augury’s advanced sensor technology and machine health solutions to Baker Hughes’ APM offering is intended to increase predictive capabilities for customers and help lower energy consumption and emissions in the industrial space. The APM market is expected to grow at a compound annual growth rate of 10.1%, according to the APM Market Global Forecast to 2026.
“Our vision is to build a world where people can always rely on the machines that matter,” said Saar Yoskovitz, cofounder and CEO of Augury. “Now we’re bringing that vision to more machines in more sectors. By combining our machine health solutions and expertise with Baker Hughes, we can offer an unmatched suite of AI-driven industrial APM analytics and insights for energy and industrial assets.”
Baker Hughes currently offers APM solutions built on Bently Nevada’s System 1 cloud-enabled platform. System 1 provides connectivity to both critical and essential machines, monitoring tens of thousands of machines for more than 1,000 global customers across heavy industrial segments. Augury’s machine health technology will integrate with System 1 and includes advanced sensors, artificial-intelligence diagnostics, and a cloud-based platform.
“This alliance is a critical addition to our industrial asset management capabilities as we continue to strategically invest for growth by delivering integrated APM solutions for our energy and industrial customers.” said Lorenzo Simonelli, chairman and CEO at Baker Hughes. “We share the same strategic vision of combining critical equipment engineering with digital analytics, and Augury also has broad technology and skill sets that complement our existing offering to improve efficiencies, productivity, and operational excellence.”
The alliance marks the latest development for the Baker Hughes integrated APM offering and follows the recent acquisition of ARMS Reliability, a global provider of asset strategy and reliability solutions to some of the world’s largest industrial companies. As Baker Hughes expands its APM coverage across customers’ plants, enterprise AI solutions from BakerHughesC3.ai will complement the APM software capability for scaled deployments and deliver predictive insights on larger quantities of operational data.
The alliance means that Baker Hughes will take a minority stake in Augury and will also assume a seat on Augury’s Board of Directors.