One of the UK’s leading Industrial Internet of Things (IIoT) solution providers is set to help industry mitigate the rising cost of energy prices and support their sustainability goals with the release of its latest AssetMinder Impact SaaS (Software as a Service) solution.
Konektio, which saw its AssetMinder revenues double in 2022, has recently released the energy monitoring and carbon tracking platform that delivers real-time insights and improved management of energy savings across water, air, gas, electricity, and steam (WAGES).
Based at its new head office in Chesterfield, the company says that AssetMinder Impact will help customers across food processing, manufacturing, recycling and utility industries, where its existing solution already monitors and analyses thousands of live assets every day.
The new release could save energy intensive manufacturers and industrial customers 12% or more per year on their energy costs through rapid turnkey deployment, providing a deeper understanding of customer’s energy consumption and efficiency of factory equipment and field assets.
These insights provide the detailed information companies require to meet increasing carbon and ESG regulatory obligations, accelerating the drive to net zero.
“Impact is being launched in Konektio’s key UK, European and US markets, and comes at a pivotal time for manufacturers,” commented Peter Stephens, Konektio CEO.
“The UK government is in the process of finalising the details of its revised energy cost support scheme, which is expected to offer significantly less financial support, further impacting the sector.
“The continued energy cost uncertainty, combined with the increased requirements for carbon accounting, makes AssetMinder Impact a commercially essential choice for a margin-constrained industry.
“Industrial electricity and gas prices have risen by over 300% since 2021 and are forecast to remain at high levels at least through the first half of this year, meaning the current pain businesses are seeing with energy costs is not going away,” added Nick Leeder, Chief Commercial Officer at Konektio.
“It has never been so important for manufacturers to explore how they can use technology to reduce their energy consumption, helping them to increase their margins, profitability, and competitiveness in the global market. We believe that AssetMinder Impact is a truly game-changing solution.”
Three large UK industrial clients have been working with Konektio to finalise the enhanced capability of the Impact SaaS solution, emphasising the importance of frictionless deployment, real time alerts, detailed energy trend analysis, and easy-to-read dashboards for monitoring and aggregating different types of machinery and systems to drive rapid Return on Investment (ROI).
A simplified user interface and customisable dashboards, with relevant information that can be accessed by employees from the manufacturing floor to the executive team, were additional critical requirements to the analytics and historical data that can be used for ESG reporting, with integration into existing carbon reporting tools.
Rüdiger Stern, Chief Revenue Officer, continued: “Impact is asset and solution agnostic so can connect to existing metering infrastructure or new meters on all the customer’s assets. This means it can be deployed and reporting important data in just a few days, which is very attractive to our customers.
“The data generated can be used to make important decisions on the effectiveness of machines, whether maintenance upgrades are required or if processes can be changed to reduce energy whilst still producing the same volumes.
“Our experts, and trusted partners, are also on hand to deliver their knowledge and insights to maximise AssetMinder value, combined with industrial and manufacturing process and equipment expertise.”
He went on to add: “In addition to generating cost savings, AssetMinder Impact can be used to understand carbon emissions, helping companies with their sustainability goals and supporting compliance to ISO 50001 by tracking improvements over time. Reporting and integration with other carbon software tools provide the data to support organisational and regulatory KPIs, corporate ESG goals and facilitating the drive to net zero.”
2022 was a significant year for Konektio as it leveraged a successful investment raise to further drive its SaaS product set and continue its commercial expansion into Europe and North America.
It also facilitated the recruitment of key staff, including the appointment of Rüdiger Stern as Chief Revenue Officer, and drove the launch of AssetMinder Predict 2.0 (condition-based monitoring and predictive maintenance technology).
Peter Stephens, CEO of Konektio, concluded: “Our continued growth and expansion, coupled with important AssetMinder SaaS releases, have been commercially deployed to an increased number of customers – all demanding increased insights and analytics that drive digital transformation.
“Our AssetMinder Impact solution has been built around customer-centric requirements and goes beyond just monitoring electricity to provide clients with easy access to critical real-time data and analytics.
“Early customer adoption and demand has been very encouraging and will be strategically extended to cover the full WAGES capability, providing customers with complete monitoring and management of all their energy-intensive processes.”