Palantir Comments on Rio Tinto's Kemano T2 Project Breakthrough
November 08 2021 - 6:59AM
Business Wire
Palantir Technologies Inc. (NYSE:PLTR) comments today on
news announced by Rio Tinto in October that a major milestone had
been reached at its Kemano T2 (“KT2”) tunnel project in British
Columbia, Canada. The tunnel boring machine (“TBM”) had broken
through to complete the excavation stage of a second tunnel to
carry water into the Kemano Powerhouse. This second tunnel ensures
the long-term reliability of the power supply for Rio Tinto’s
British Columbia (BC) Works smelter in Kitimat and will allow Rio
Tinto to conduct repairs and maintenance on the existing tunnel
without shutting down operations. The project, expected to be
finished in the second half of 2022, allows Rio Tinto to continue
to produce some of the world's lowest carbon aluminum.
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the full release here:
https://www.businesswire.com/news/home/20211108005256/en/
BC Works, Aerial Shot, Canada (Source:
Rio Tinto Brand Bank Copyright © 2021 Rio Tinto)
Effective tunnel boring relies heavily on sensor data and the
close management of boring advance rates and tunnel ring-building
for the structure of the newly excavated area. There needs to be
continuous communication, transferred through shift handovers,
between on-the-ground teams and the control room. Palantir’s
Foundry platform integrates this diverse data, in near real time,
into a common operating picture for the various teams. Beyond
translating TBM sensor data into actionable insights, Palantir
Foundry allows the Kemano site teams to understand the cause of a
number of delays at a glance.
In the three months preceding the completion of the excavation
stage, and after a pause in work necessitated by COVID-19, Rio
Tinto deployed Palantir Foundry to help achieve a 150% improvement
on its excavation rate (measured in meters daily) - a significant
productivity improvement. Palantir Foundry has helped the Kemano
site teams improve their operational processes - with ring-build
times significantly reduced by the end of the project and
materially decreasing excavation delays by optimizing cycle
times.
Palantir Foundry is also hosting and operationalizing three
third-party machine learning vision models. These models, developed
for Rio Tinto, help predict the arrival times of the train
servicing the TBM. Integrating these models into the common
operating picture enables Rio Tinto’s engineers to optimize the
timing of maintenance.
About the Kemano Tunnel 2 (KT2)
The Kemano Tunnel 2 (KT2) tunnel is 7.6 km long, and is
excavated by a 6.56-meter-diameter Herrenknecht Tunnel Boring
Machine. A Rio Tinto video of the excavation breakthrough at Kemano
may be viewed online at https://www.youtube.com/watch?v=ZXSBVWfkSWw
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About the Rio Tinto-Palantir Enterprise Relationship
The deployment of Palantir Foundry at Kemano is one of many
projects taking place within the multi-year enterprise contract
announced by Rio Tinto and Palantir in February this year -
https://www.businesswire.com/news/home/20210128005373/en/Palantir-Technologies-and-Rio-Tinto-Sign-Multi-Year-Enterprise-Partnership
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About Palantir Technologies
Palantir Technologies Inc. builds and deploys operating systems
for the modern enterprise. Additional information is available at
https://www.palantir.com.
Who dares, wins.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements may relate to, but are not limited to,
Palantir’s expectations regarding the amount and the terms of the
contract and the expected benefits of our software platforms.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified.
Forward-looking statements are based on information available at
the time those statements are made and were based on current
expectations as well as the beliefs and assumptions of management
as of that time with respect to future events. These statements are
subject to risks and uncertainties, many of which involve factors
or circumstances that are beyond our control. These risks and
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perform as desired; the frequency or severity of any software and
implementation errors; our platforms’ reliability; and our
customer’s ability to modify or terminate the contract. Additional
information regarding these and other risks and uncertainties is
included in the filings we make with the Securities and Exchange
Commission from time to time. Except as required by law, we do not
undertake any obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20211108005256/en/
Lisa Gordon media@palantir.com
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