Flutura and JAG Group join forces to speed digital ‘AI and IIoT revolution’ into oil and gas market
Flutura, an artificial intelligence (AI) start-up focused on impacting outcomes in the energy, manufacturing and engineering industries, is partnering with the Jerry Allen Group (JAG Resources) in Houston, Texas to accelerate its growth.
The partnership will focus on utilising Flutura’s Cerebra IIoT platform for the benefit of the strategic oil and gas industry.
Given today’s evolving economic landscape, the oil and gas industry has begun looking at next generation digital tools such as AI to transform upstream, midstream and downstream operations. Flutura’s Cerebra allows advanced diagnostic algorithms for equipment health episode detection and provides OEMs the ability to scale value added offerings across varied equipment classes.
“The next generation of competitive advantage in the energy marketplace will go to forward thinking players who invest a lot on digital IoT and artificial intelligence capabilities like Cerebra from Flutura,” said Archie W. Dunham, JAG advisor, chairman emeritus and former independent non-executive chairman of Chesapeake Energy in Oklahoma City and retired chairman of ConocoPhillips. “For upstream, midstream, downstream and the machinery manufacturers the risk of digital inaction is greater than the risk of digital failure. IoT & AI are the future and it is coming.”
Flutura, with its AI-led industrial Internet of Things (IIoT) platform Cerebra, is used by customers such as Henkel, Stewart & Stevenson and Sodexo. The company is backed by venture capital firms Vertex Ventures of Singapore, Lumis Partners of Connecticut and Silicon Valley’s The Hive.
“In the energy industry, we have seen a lot of innovations that gave American companies superior competitive advantage over others. AI capabilities will define the next frontiers in innovation,” said Jerry Allen, chairman of JAG Resources LLC, designated chairman of the Flutura-JAG partnership and a veteran in the energy space.
“We evaluated various solutions in the market and found Flutura’s Cerebra unique in that it is far more advanced than other providers in this space. The next-generation functional features, rapid implementation approach and the ‘scale-as-you-go’ pricing model are game changers in today’s world of reduced barrel prices.”
JAG Resources LLC, based in Houston, the energy capital of the world, boasts a wide array of esteemed leaders in the energy space as its core advisors. JAG counts Archie Dunham, Gordon Bethune, former CEO of Continental Airlines and board member at Sprint and Honeywell, Duane Wilson, ex-VP RMS&T ConocoPhilips among other industry luminaries listed on its roles.
“JAG brings extensive knowledge of the energy industry,” said Krishnan Raman, CEO of Flutura. “Cerebra was envisioned and developed as a revolutionary AI led IIoT platform. Leveraging the power of Cerebra in concert with the extensive and broad-based industrial experience of JAG, will create a strong and game changing solution to enable the inevitable digital transformations on the horizon for energy companies.”