Novity

Novity is a cutting-edge predictive maintenance solution tailored for the process industries, including Chemicals and Oil & Gas. The company specializes in predicting the remaining lifespan of mission-critical assets, thereby preventing unplanned downtime and its associated economic and safety impacts. Novity's technology integrates seamlessly with existing workflows and infrastructure, utilizing IoT sensors and scalable models to deliver accurate prognostics out of the box. The business model revolves around providing a subscription-based service that offers clients real-time insights into the health of their equipment, enabling them to make informed decisions and maintain continuous operations. Novity serves operators of chemical plants and other process industries, helping them achieve increased productivity and improved environmental and safety performance. The company generates revenue through subscriptions to its predictive maintenance platform, which includes intuitive dashboards and data visualizations for clear and actionable insights.

Keywords: predictive maintenance, process industries, Chemicals, Oil & Gas, IoT sensors, prognostics, unplanned downtime, asset lifespan, safety performance, subscription-based.