Assaf Almagor (photograph by Sagi Moran)
Yokneam-based FeelIt, founded in 2017 by Dr. Gadi Konvelina, Dr. Mittal Segev-Bar and Prof. Hussam Hayek of the Technion, operates in the field of ‘predictive maintenance’ and develops sensing solutions that enable real-time insights to improve the way industrial equipment is managed critical in the production processes.
The Bazen Group joins international giants that invested in FeelIt such as the German automotive industry supplier Continental and the German industrial supplier Henkel that invested in the company, as well as the Israeli venture capital fund – Takwin labs. FeelIt’s solution is in the form of a sensor that is printed using nano technology ink that sticks to “dumb” industrial products and allows them to perform preventive maintenance, with the help of advance detection of faults and automatic alerts on future failures in real time.
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In fact, from the moment the sensor is connected to the equipment, it becomes “smart” through which the condition of the equipment can be diagnosed on an ongoing basis and receive warnings about future malfunctions, and thus, industrial equipment such as pipes, becomes part of the smart industry revolution (Industry 4.0) with the help of the FeelIt system that combines sensors based on Nanomaterial and artificial intelligence.
For Bezan, the use of FeelIt’s system called RetroFeel™ will help reduce cases of unplanned downtime, resource optimization, safety risks and energy waste, while maintaining the maximization of the systems for optimal functioning. In addition, FeelIt will help Bezan to develop products that reduce breakdowns and save operating costs through predictive and preventive maintenance of various facilities and systems.
Besides the financial investment, Bazen will help FeelIt by conducting pilots in its facilities with the aim of developing products that are specifically suited to the refining and petrochemical industry while sharing a lot of information and engineering knowledge. The pilots will be carried out in five of Bazen’s facilities.
Assaf Almagor, CEO of the Bazen Group, stated that “the collaboration with FeelIt is part of our vision for the future in the field of energy and leading a responsible, sustainability and innovation-oriented transformation. Implementing advanced technologies and innovative solutions in the production processes are part of the strategic goals that allow us to continue providing energy and energy security, today and in the future.”
Dr. Gadi Konvelina, CEO and co-founder stated that “It is very exciting to join hands with an amazing partner like the Bezen Group, which has become a leader in the application of innovation and smart industry approaches. I am sure that this partnership will not only serve both companies in achieving their ESG goals , but will also help create a greener future for us and our children.”
Dr. Mittal Segev-Bar, chief technology officer and co-founder stated that “I am excited to announce that the Bazen Group has invested in FeelIt Technologies after working together for more than a year. Our collaboration has allowed us to adapt the development of our product to the specific needs of the industry. We look forward to continued work and our shared future.”
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