Arria NLG PLC Partnership Agreement with INOVX (7373S)
March 21 2016 - 6:37AM
UK Regulatory
TIDMNLG
RNS Number : 7373S
Arria NLG PLC
21 March 2016
21 March 2016
Arria NLG plc
("Arria NLG", or "the Company")
Partnership Agreement with INOVX
Arria NLG plc (AIM: NLG), a leader in the development and
deployment of Natural Language Generation ("NLG") technologies, is
pleased to announce a new partnership agreement with INOVX
Solutions Inc., a global leader in advanced asset integrity
management software in the Oil and Gas industry.
The partnership will see Arria's unique NLG Platform providing
real-time advanced data analysis and commentary to INOVX's 3D asset
modeling software. Through its 'Asset Virtualization(R) ' INOVX
generates virtual environments to allow field assets to be
monitored and managed through interaction with 3D models. This
partnership will further enhance the INOVX user's experience by
communicating expert insights written up by Arria's NLG Platform in
real time. Work will commence to integrate Arria's software and if
successfully deployed the Company could start receiving licence
revenue during 2017 from INOVX.
Embedded subject matter expertise is a key feature of the Arria
NLG Platform. It enables companies, such as INOVX, to capture years
of specialized field knowledge into software that the company and
its users can then retain for years to come. Arria NLG uses its
patented Natural Language Generation technology to create a
'Virtual Data Scientist' to analyze and communicate what is
happening in the data using the language and terminology specific
to the company and its users.
The partnership joins two leading Artificial Intelligence
technologies at a crucial point of development for 'giving a voice
to the Internet of Things'. With the application of Arria's NLG
Platform, INOVX will make a marked step forward to innovate its
product with the power of advanced NLG from Arria.
Stuart Rogers, Chairman and Chief Executive, Arria NLG
commented: "This is a great application of Arria's core technology.
With INOVX the NLG Platform truly becomes the voice of the
engineering expert monitoring an oil and gas refinery or similar
asset. INOVX allows controllers to swoop through a complex plant
asset in a true virtual representation, allowing incidents and
issues to be quickly identified and acted upon. Our NLG component
tells operators what is happening beyond what they are seeing
virtually, and can even provide recommendations as to what actions
to take next."
John Bell, Chief Executive Officer, INOVX notes: "We
consistently seek compelling technologies that can further improve
the operational efficiency of our customers' critical assets. By
linking INOVX's V-Suite products to Arria's NLG technology we feel
we have a game changer. A true virtual Artificial Intelligence
monitoring and informing controllers as to the state of both their
downstream and upstream assets."
For further information, please visit www.arria.com or
contact:
Arria NLG plc Tel +44 (0)20 7100 4540
Stuart Rogers
Chairman and Chief Executive
----------------------------- ---------------------------------------
Allenby Capital (Nominated Tel: +44 (0)20 3328 5656
Adviser & Joint Broker)
Nick Naylor
Jeremy Porter
James Reeve
----------------------------- ---------------------------------------
MSL Capital Markets Tel: +64 (0)4 472 2716
(Lead Manager)
Andrew McDouall
Justine Dunnett
Peter Lynds
----------------------------- ---------------------------------------
Stockdale Securities Tel: +44 (0)20 7601 6100
(Joint Broker)
Antonio Bossi
Robert Finlay
----------------------------- ---------------------------------------
IFC Advisory (Financial Tel: +44 (0)20 3053 8671
PR and IR) tim.metcalfe@investor-focus.co.uk
Tim Metcalfe graham.herring@investor-focus.co.uk
Graham Herring heather.armstrong@investor-focus.co.uk
Heather Armstrong
----------------------------- ---------------------------------------
Ruder Finn (PR USA)
Scott Beaver (West Coast) Tel: +1 541-326-5847
Brianna Mulligan (East Tel: +1 203-246-1304
Coast)
----------------------------- ---------------------------------------
Arria NLG
Arria NLG's core product is known as the Arria NLG Platform, a
form of artificial intelligence software, specialized in extracting
information from complex data sources and communicating that
information in natural language (i.e. as if written by a human).
The scientific foundation for the Arria NLG Platform is based on
more than 30 years of research and development by the Data2Text
Founders at the University of Aberdeen. For additional information,
visit www.arria.com. Follow Arria NLG on Twitter, LinkedIn, Google+
and YouTube.
About INOVX:
INOVX, founded in 1999, provides a platform and solutions for
Asset Virtualization(R) to companies in the process industries
worldwide. INOVX's RealityLINx(R) product enables the creation,
management and access to high fidelity three dimensional views of
plant assets. These views are used in daily work practices to
better communicate and navigate all asset information. INOVX
solutions support many plant functions such as reliability, safety,
operations, maintenance, inspection, and engineering. INOVX is a
pioneer and thought leader in the application of laser scanning
technology for the creation of accurate and precise three
dimensional models of existing facilities. This Asset Documentation
Service offers a reliable and proven way of creating and
maintaining the three-dimension asset models. INOVX is
headquartered in Irvine, California. For more information please
visit www.INOVX.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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