IntelliSense.io and BASF Venture Capital (BVC) have announced that BVC is leading a strategic investment round in IntelliSense.io with follow-on participation from a group of U.K.-based technology angel investors including Dr. Steve Garnett and Stephen Kelly. IntelliSense.io is a provider of AI-based solutions for the global mining industry. Its customers include mining majors and diversified mining groups.
IntelliSense.io’s technology will address the two challenges that most mining companies face: of mining companies. First, today’s known ore deposits are increasingly difficult to mine, with declining ore grades and greater environmental challenges. Second, the composition of the orebody is not known with high accuracy. This variability impacts operational conditions and control, as well as plant performance and throughput.
According to the company, IntelliSense.io has combined the disciplines of mining expertise with software engineering and data science, enabling products to be designed by industry experts for end-users in the mining industry. The result is a unified technology platform, including a portfolio of process optimization applications spanning the entire mining value chain, from the mine to the plant and the markets. This is unique in the industry due to its breadth, scope and scale and it helps mining operations to become more efficient, sustainable and safe with accelerated value delivery. The platform also reportedly includes built-in simulation tools that can be used to test alternative operating conditions, train staff and run non-intrusive ‘what if’ scenarios.
In addition to the investment by BASF Venture Capital, BASF Mining Solutions has entered into an exclusive partnership with IntelliSense.io, bringing together their expertise in mineral processing, ore beneficiation chemistry and industrial artificial intelligence technology. The joint offering is called “BASF Intelligent Mine powered by IntelliSense.io” and delivers artificial intelligence solutions embedded with BASF mineral processing and chemical expertise.
“The world is becoming increasingly digital and artificial intelligence can make a vital contribution in many areas,” said Markus Solibieda, managing director of BASF Venture Capital. “The IntelliSense.io team offers a flexible and future-proof system which can help to optimize the metal lifecycle from extraction to processing to disposal. We believe in the IntelliSense.io team and the potential of this technology, and we are happy to support the further development and distribution of this innovative solution with our investment.”
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from American Coatings Association https://www.paint.org/basf-venture-capital-invests-in-intellisense-io/
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