This post originally appeared in Purdue University Office of Technology Commercialization on September 23, 2014.
WEST LAFAYETTE, Ind. – An official of an industrial technology startup based on a Purdue University innovation says his company could predict failure in industrial rotating machinery, reduce maintenance expenditures and improve worker safety.
Anurag Garg, co-founder and CEO at Bearing Analytics, said rotating systems are prone to unexpected failure in industrial settings. These systems are fundamental to the manufacturing industries, power generation, chemical and process plants, and transportation and aviation systems to name a few.
“These failures routinely lead to expensive interruption and downtime that cost industrial operators millions of dollars each year,” he said. “Workers’ safety also is at risk when machines unexpectedly fail.”
Researchers in the Purdue School of Electrical and Computer Engineering developed sensor technologies that monitor real-time performance of these systems. Garg said these innovations drive Bearing Analytics’ ability to develop next-generation failure prediction capabilities for rotating systems. The technology has been exclusively licensed to Bearing Analytics through the Purdue Office of Technology Commercialization. A video about Bearing Analytics and the technology is available at http://youtu.be/XiHg6KjRBd0
Lokesh Gupta, vice president of research and development, said Bearing Analytics continues to innovate on novel sensor technologies that provide an improvement over others available on the market today.
“These sensors monitor the bearings, gears, seals, couplers and lubricants in real-time – information that can be used to infer the health of machines and predict failure,” he said. “Our end-to-end solutions provide the seamless continuity of sensors, networking, flexible and scalable cloud software, and analytics. We generate actionable information that maintenance engineers can act upon – what machine will fail, when it will fail and how it will fail.”
Garg said Bearing Analytics is installing its solutions throughout the country.
“We have several systems out in the field already and are currently seeking more customers for our full-feature solution launching next month,” he said. “We have listened very closely to the industry over the past year and a half to understand what the unmet needs are – we’ve developed just what the maintenance industry has been looking for, and are very excited to roll it out next month.”
Bearing Analytics officials have worked closely with Purdue Foundry, Purdue Office of Technology Commercialization, Birck Nanotechnology Center and the Burton D. Morgan Center for Entrepreneurship in Purdue’s Discovery Park. Garg said the relationship with Purdue has been essential in the company’s continued progress.
“Purdue has supported Bearing Analytics every step of the way, from providing travel grants through the College of Engineering and the School of Electrical and Computer Engineering, to accelerating the licensing process through the Office of Technology Commercialization,” Garg said. “Officials at the Purdue Foundry and Burton D. Morgan Center for Entrepreneurship have assisted with customer development, strategy development and investor connections. These initiatives and organizations play an important role in helping student-launched startups to commercialize their own ideas as well as Purdue technology.”
Bearing Analytics has received a $100,000 grant from FOUNDER.org, a global student entrepreneur investor and company building program. The company is a part of the FOUNDER.org Class of 2015, where the company receives mentoring from world-class mentors on the 8D company-building program. Bearing Analytics officials also won $100,000 in the Clean Energy Trust’s 2013 Clean Energy Challenge and $30,000 at Purdue’s Burton D. Morgan Business Plan Competition.
Bearing Analytics is one of more than 20 startups based on Purdue intellectual property that were launched in the 2014 fiscal year. For information about leadership positions, investing in a Purdue startup or licensing a Purdue innovation, visit http://www.purduefoundry.com
About Bearing Analytics
Bearing Analytics offers industrial system owners the most accurate rotating equipment monitoring and failure prediction solutions available, improving asset management and operational efficiency, while decreasing downtime and business interruption cost.
About Purdue Office of Technology Commercialization
The Purdue Office of Technology Commercialization operates one of the most comprehensive technology-transfer programs among leading research universities in the United States. Services provided by this office support the economic development initiatives of Purdue University and benefit the university’s academic activities. The office is managed by the Purdue Research Foundation, which received the 2014 Incubator Network of the Year from the National Business Incubation Association for its work in entrepreneurship. For more information about funding and investment opportunities in startups based on a Purdue innovation, contact the Purdue Foundry at firstname.lastname@example.org
Purdue Research Foundation contact: Steve Martin, 765-588-3342, email@example.com
Source: Anurag Garg, 856-366-5368, firstname.lastname@example.org