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Strategic Partnership with Novity to jointly deploy an integrated solution in Japan, the Middle East and North America by combining Novity's TruPrognostics™ AI with Chiyoda's plantOS™ Solution

Chiyoda Corporation (Chiyoda) has entered into a Memorandum of Understanding with Novity, Inc. (Novity) to jointly deploy an integrated solution combining Novity's truly predictive maintenance AI platform 'TruPrognostics™ AI' with Chiyoda's Operations & Maintenance (O&M) total solution platform 'plantOS™^*.'

Chiyoda and Novity will jointly promote the integrated solution in Japan, the Middle East and North America, aiming to deliver data-driven maintenance optimization, operational stability and enhanced equipment reliability.

■ Background
Industrial sectors are facing increased challenges such as labor shortages, the transfer of expert skills and the growing requirement for advanced asset management. By combining Novity's accurate hybrid AI-based technology TruPrognostics™ AI with Chiyoda's plantOS™, we can deliver a new, groundbreaking O&M solution that will provide users with Remaining Useful Life (RUL) predictions, precise machine diagnostics, and actionable maintenance and operational recommendations, altogether enabling O&M excellence and operational predictability at scale.

■ Objectives
The primary objectives of the partnership are:
　・　Creation of an advanced O&M solution integrating prognostics, diagnostics, anomaly detection, O&M recommendations and operational optimization
　・　Joint Go-to-Market initiatives tailored to the needs of markets in Japan, the Middle East and North America
　・　Enhancing the safety and reliability of AI and data utilization (strengthening data governance)
　・　Contributing to improved equipment operational efficiency, reduced downtime, optimized maintenance costs and greater operational safety for customers

■ Solution
The integrated solution will deliver:
　・　Reduced unplanned downtime through accurate machine fault diagnostics and remaining useful life estimates
　・　Efficient operations and support for load adjustments based on equipment conditions
　・　Digitalization of expert skills and support for knowledge transfer
　・　Strengthened governance through a secure, integrated data platform

Chiyoda and Novity plan to jointly establish a complete roadmap, from Proof of Concept (PoC) through to commercial deployment, focusing primarily on LNG facilities, refineries, chemical plants, power plants and infrastructure facilities.

■ What Sets TruPrognostics™ Apart
Conventional predictive maintenance tools alert operators to anomalies but cannot answer when failure will occur. The integrated plantOS™ + TruPrognostics™ AI solution closes this gap.

・　Hybrid Physics-AI Models - High Accuracy without Large Historical Datasets:
Unlike data-driven tools that require extensive run-to-failure training data, TruPrognostics™ AI combines physics-based models with machine learning to achieve 90%+ accuracy even with limited historical data.
・　End-to-End O&M Integration via plantOS™:
TruPrognostics™ AI is embedded directly into plantOS™, connecting RUL predictions to maintenance planning and operations in a single integrated workflow.

■ Company Comments:
Mr. Markus Larsson, Co-Founder and CEO of Novity said:
Novity TruPrognostics™ AI has been proven in live deployments across upstream and midstream operations, mining, metals manufacturing, wastewater, and chemical plants - and we're now extending into LNG. Partnering with Chiyoda, one of the world's leading engineering firms, to bring TruPrognostics™ AI to their existing customer base and beyond is a natural next step as we scale. We look forward to working together to help operators move from reactive maintenance to truly predictive operations.

Mr. Toru Yoneyama Technical Authority - Industrial DX, Chiyoda said:
Most predictive maintenance tools on the market stop at anomaly detection and alerts - they cannot answer the fundamental question of what will fail and when. The integrated solution combining plantOS™ and Novity TruPrognostics™ AI represents a fundamentally new approach not yet seen in the market: delivering high-accuracy RUL predictions powered by physics-AI hybrid models, deployable on existing plant infrastructure. Leveraging Chiyoda's engineering expertise and digital platform, we are transforming our customers' O&M into truly predictive operations.

■ Novity, Inc.
Established: 2022
Headquarters: San Francisco, CA, United States
Main Business: Development and provision of the AI predictive diagnostics platform TruPrognostics™ AI
URL: https://www.novity.us/

• Chiyoda Corporation trademark. It is an integrated operation and maintenance solution that combines on-site physical support with advanced analysis services and cutting-edge digital technologies such as IoT, cloud computing and AI. By integrating these capabilities, plantOS™ supports operation and maintenance activities across a wide range of industrial facilities and plants.
  
  Reference:
  Chiyoda Corporation press release dated September 4, 2023
  https://www.chiyodacorp.com/en/media/assets/230904_e.pdf

For further information, please contact:
Chiyoda Corporation 
PR & Sustainability Advanced Section
Email: chiyoda_pr@chiyodacorp.com
URL: https://www.chiyodacorp.com/en/contact/index.php