PrecyseTech, a leading pioneer of wireless Remote Entity Awareness and Control (REAC) solutions for managing high-value physical assets and personnel, announced today an increase in clients leveraging its Machine-to-Machine (M2M) and Internet of Things (IoT) applications for the oil and gas, mining and logistics industries.
February 1, 2015 - PrecyseTech, a leading pioneer of wireless Remote Entity Awareness and Control (REAC) solutions for managing high-value physical assets and personnel, announced today an increase in clients leveraging its Machine-to-Machine (M2M) and Internet of Things (IoT) applications for the oil and gas, mining and logistics industries. Global leaders in these industries have already successfully utilized PrecyseTech solutions to streamline processes, garner operational efficiencies and enhance the safety and security of personnel.
The IoT is built on the foundation of communication between devices. Through proprietary hardware, software, and algorithms, PrecyeTech’s solution extends IoT to devices not previously connected and allows companies to experience more operational efficiencies and the ability to locate, monitor and manage assets in ways previously unavailable. The PrecyseTech IoT solution, using patented technologies combining assisted GPS (A-GPS) and active RFID (radio frequency identification) communications in a single Smart Agent, provides REAC capabilities resulting in real-time visibility and seamless transition between indoor and outdoor areas.
"According to numerous industry sources*, by 2025, the global business of IoT technology could be as much as $6.2 trillion. When combined with the prediction that every person will be surrounded by 26 smart objects, we see a great potential for growth within our targeted industries with our Smart Agents," said Drew Bolton, vice president of global operations with PrecyseTech. "Smart objects, such as PrecyseTech’s Smart Agents including Badge Agents, Vehicle Agents and Asset Agents, give these industries vital information to locate, manage and control valuable assets or vehicles and locate and communicate with personnel for greater safety and security. Companies using the PrecyseTech solution can increase efficiency, save costs and significantly enhance emergency response activities."
IoT Improves Asset Utilization in Cargo, Transportation and Logistics
Maintaining continual knowledge of the location, physical, environmental, and technical status of high-value assets is an operational imperative. One of the world’s largest transportation, cargo and logistics companies needed a solution to remotely identify, locate and monitor ground operation vehicles and equipment over 3,000 acres of indoor and outdoor complex metallic areas.
In this case, the PrecyseTech solution tracks more than 150 ground operations assets including pushback tugs, mobile air conditioning units and generators, fuel trucks, and crew shuttle buses via Smart Agents' on-board sensing capabilities and PrecyseTech's robust long-range wireless network to identify, locate and monitor equipment. PrecyseTech's industry-leading communication distances minimize infrastructure costs, reduce deployment time, maximize system coverage areas, and facilitate scalability.
M2M Solution at Work in Open Pit Iron Ore Mine
One of the world's largest mining companies, at an open pit iron ore mine located in Australia, needed a M2M solution to remotely locate, monitor and operate mobile lighting towers, as well as improve asset utilization. The mine operators sought a solution to help them identify, locate, monitor and wirelessly control more than 40 mobile lighting towers and more than 100 high-value physical assets including cranes, generators and welding units.
Partnering with CSC (NYSE: CSC), for this multi-phase project, the customer is using the solution to automatically monitor and manage high-value assets throughout the 40 square mile (100 square kilometer) mine.
Bringing IoT to Hazardous Areas in the Oil and Gas Industry
A large international oil and gas company needed a solution to monitor and locate more than 1000 workers in their CO2 recovery plants in the Permian Basin of Texas. The facilities are dispersed across hundreds of miles and range in size from a couple of acres to nearly a hundred acres. Due to the ever-present risk of flammable gases, these facilities are rated Class I, Division 1 and 2 hazardous areas (similar to IECEx and ATEX Zone 0).
Prior to the PrecyseTech solution, when an emergency in hazardous areas occurred, personnel relied on their rigorous training and Standard Operating Procedures (SOPs) to determine their response. PrecyseTech's solution supplements SOPs, adding visibility and communication tools to improve how a company responds to emergencies in hazardous environments. The PrecyseTech Safety and Security Solution enhances day to day operations and emergency response by improving muster event procedures and of critical importance, helping quickly locate and assess the state of missing personnel. It uses battery-powered intrinsically safe devices for hazardous areas, Badge xAgents and Micro xBeacons, network infrastructure and sophisticated software to remotely identify, locate, monitor and communicate with personnel during mustering events and normal day-to-day operations.
"We are working with industry leaders in key markets who understand and value the business potential and operational efficiencies provided by our solution. With the projected growth of IoT and M2M, the RTLS market has the potential to make a tremendous impact in oil and gas, logistics, mining and other heavy industries" said Drew Bolton with PrecyseTech. "As the ecosystem of connectivity provided by the IoT continues to evolve and expand, we look forward to the opportunity to enhance our current solutions and provide the next generation of REAC solutions."
PrecyseTech is a leading pioneer of wireless Remote Entity Awareness and Control (REAC) systems for remotely managing high-value physical assets and personnel. PrecyseTech's solutions empower enterprises to maintain knowledge of and automatically react to the physical, environmental and technical status of their critical physical assets including people, vehicles, equipment, instruments and inventory in real-time, improving visibility and decision making among operations, safety (SSHE, HES, etc.), IT and management. The PrecyseTech Solution, using patented technologies incorporating assisted GPS (A-GPS) and active radio frequency identification (Active RFID) communications into a single “Smart Agent”, provides real-time REAC capabilities for Fortune 500 organizations. PrecyseTech serves the following industries – oil and gas, mining, chemical, energy, terminal operations at airports and shipyards, and yard management at vehicle distribution facilities. Additionally, PrecyseTech services industrial manufacturing and other hazardous and non-hazardous heavy industries. For more information visit www.precysetech.com.
*Sources: Strategy Analytics, McKinsey Global Institute, NYTimes.com