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GENERAL ELECTRIC COMPANY

(GE)
  Report
Delayed Nyse  -  04:00 2022-09-30 pm EDT
61.91 USD   -1.31%
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General Electric : GE Digital Launches Accelerator Tools to Help Energy Companies Accelerate Digital Transformation

06/06/2022 | 10:12am EDT
  • Advanced digital techniques and product configurations incorporate energy subject matter expertise and best practices from GE Digital's engineers and technology partners
  • Tools can accelerate time to leverage predictive analytics, asset health and reliability processes, asset strategy optimization, and change management workflows without custom development

SAN RAMON, Calif. - JUNE 6, 2022 -- GE Digital today announced its new Accelerator product line adding best-in-class software tools to help empower companies in asset-intensive energy industries to quickly configure its Asset Performance Management (APM) and other offerings. GE Digital Accelerators are designed to enable faster time to value, scale APM to a wider range of assets, and help enterprises gain financial value at both their facilities and across the enterprise.

GE Digital's first set of Accelerators includes an extensive library of predictive analytics, asset management strategies, and standard health and reliability processes. These can be applied to the entire energy value chain, from oil & gas to power generation -- ranging from renewables like wind and solar to more traditional gas power and nuclear production assets. Using advanced pre-built product configurations, companies can efficiently set up enterprise-level asset reliability and performance programs, embedding prioritized actionable information into daily work. In addition, they are designed to scale the power of APM with health monitors, analytics, asset maintenance strategies, and business process workflows. Accelerators are designed and built with energy industry expertise and best practices from GE Digital's innovative architects, engineers, and technology partners.

"The energy industry is rapidly changing and companies need to deploy and gain insights from software at faster speeds than ever before," said Linda Rae, General Manager of GE Digital's Power Generation and Oil & Gas business. "Digital tools and automation are critical. We designed the Accelerator portfolio to expedite development, configuration, and optimization of APM. For example, Asset Strategy Accelerators can eliminate thousands of resource hours developing equipment strategies and processes in the oil & gas industry."

Energy companies have used asset management practices for decades on the highest criticality equipment, ensuring high availability to meet the demands of their customers. The increasing complexity and scale of industrial facilities, along with the need for market flexibility, requires applying asset performance practices to a much wider array of equipment, using more advanced digital technologies. Accelerators will help energy companies expand asset management processes without consuming more time and resources building custom configurations and health monitoring techniques.

Asset Strategy Accelerators

Built on the foundation of APM Strategy, a key solution in GE Digital's APM software suite, Asset Strategy Accelerators target industrial assets across power generators, oil & gas producers, and mining companies spanning a wide range of criticality. Balance of Plant (BoP) asset strategies include various supporting and auxiliary energy producing equipment ranging from rotating, mechanical, electrical, safety, and controls. This advanced Accelerator library allows companies to expand strategies to additional equipment in maintenance and reliability programs. Asset Strategy Accelerators are imported into the APM database and applied in either Failure Modes, Effects Analysis, or Asset Management applications.

GE Digital has partnered with Stork to offer their Asset Strategy Library (ASL) delivering a collection of pre-defined strategy templates for known failure modes and prescribed mitigating actions for a wide variety of asset types including Balance of Plant (BoP).

Standard Health & Reliability Processes

Health & Reliability Accelerators are designed to configure a holistic view of an asset's overall health. Leveraging deep domain expertise and APM Health solution intelligence, these Accelerators mine through several data inputs in APM detecting critical issues and other concerns. The policy engine consumes the data calculating the asset's overall health score to identify and prioritize the assets needing the most attention.

The Health & Reliability Accelerators provide pre-built templates to configure data structures and connections for relevant queries, sensor anomaly analytics, health indicators for a single measure of asset health, policies combining alerts/alarms logic, formulas, and coding, as well as recommendations and actions. This reduces valuable time to learn, leveraging the power of APM to make the right decisions, faster. Deeper insights allow companies to prioritize maintenance efforts and scale APM across the enterprise achieving reliability management benefits for more assets.

"Deploying accelerators can enable companies to achieve business results faster," continued Rae. "We will continue to build out the Accelerator library to scale across more assets, processes, and workflows including root cause analysis, carbon reduction, and energy transition enablers."

Click on these links for more information about GE Digital's solutions for the Power Generation and Oil & Gas industries.

For media inquiries, please contact:

Ellie Holman
Product & Technology Communications
GE Digital
[email protected]
America/New_York business unit tags

Disclaimer

GE - General Electric Company published this content on 06 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 June 2022 14:11:04 UTC.


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Financials (USD)
Sales 2022 75 154 M - -
Net income 2022 354 M - -
Net Debt 2022 13 724 M - -
P/E ratio 2022 -1 990x
Yield 2022 0,52%
Capitalization 67 888 M 67 888 M -
EV / Sales 2022 1,09x
EV / Sales 2023 0,97x
Nbr of Employees 168 000
Free-Float 74,1%
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Managers and Directors
H. Lawrence Culp Chairman & Chief Executive Officer
Carolina Dybeck-Happe Chief Financial Officer & Senior Vice President
Victor Abate Chief Technology Officer & Senior Vice President
Nancy Anderson Chief Information Officer & Vice President
Francisco D'Souza Independent Director
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