Invent 2016 qual

Editor's Notes

• #2: Hi, I’m Joe a forecasting analyst with on of the largest energy suppliers in Ireland. This is Jing a postdoc in QUB and our academic advisor is Prof Kang Li. Both of us have conducted our Phd study under the supervision of Prof Kang Li. As a result of the work being conducted in our Energy Power and Intelligent Control cluster, we have developed, tested and are currently deploying Point Energy Technology. By using our little box of electronic tricks, we can make dumb machines smart. Our concept enables manufacturers to understand what their equipment is doing and how it is behaving right down to the component level.
• #3: Our solution targets an extremely large pain point for our customers. In the manufacturing industry, energy costs are a huge problem. This is especially true for manufacturers in Northern Ireland, with many jobs being lost and international competitiveness being impacted. And you know it’s a problem even when Stormont admit to it! Reductions in energy usage translates directly into increased profit margins and business outlook. But how can businesses reduce their energy useage if they don’t know where the energy is going as soon as it goes behind the meter? Lack of clear insight into what their machines are doing limits any potential ability to unlock savings. That’s where we come in.
• #4: If you cant measure it, you can’t improve it. Our solution gives clients unparalleled insight into their energy use. We monitor the power being drawn by each component of every machine. Since its not the machine using the enrgy, it’s the components, we enable a new level of cost reduction to be achieved by our clients. This enables targeted analysis of energy intensive components rather than machines and long term condition monitoring. Furthermore, targeted improvement projects can be carried out, the success of which can be easily identified.
• #5: Energy Cost Reduction (Get) Monitors energy usage at a component level Understanding = Reduction Condition Monitoring (Keep) Energy consumptio is like a blood test for compoents. We can learn so much about a compnents behaviour by monitoring over time. Energy consumption infers machine health Identifying faulty compontnets and replacing them beofre they break or continue to cost money Reduces machinery downtime Productivity Improvement (Grow) Ultimately we have the potential to deliver a very sophisticated productivity improvement tool for high volume manufacturing. Component Interaction Enables process and line optimization A further tranche of cost reduction possible!
• #6: What evidence to we have? Well, our technology works. We are currently collecting data. We are installed in two pilot sites. We have already delivered energy reduction for both clients. Our hardware has gone through extensive development. It is ready and working the way we want it to. We are currently working on the analytic offering (shown here) and believe this is where out value lies. Hardware is important but is only a vehicle from which we can deliver our offering. But we are not happy and just reducing out clients energy needs. We see long term value in our condition monitoring capability and are currently developing the software analytics and reporting required to easily inform our clients about what their components are doing and improvements need to be made. We’d love to get further in this competition so our potential can be unlocked across the globe. (so things can continue to be “Made in NI”). Energy reduction is the headline, but we ultimately see ourselves as the lean manufacturing energy and condition monitoring consultant for our clients.