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Augury and Grundfos Enter into Strategic Partnership

September 25, 2018

NEW YORK--(BUSINESS WIRE)--Sep 25, 2018--Grundfos, a world leading pump and water technology company, and Augury, a leading AI-based mechanical diagnostics provider are partnering to change the way the world accesses water, enabling even more reliable and sustainable water services to their customers.

Grundfos and Augury are partnering to bring continuous diagnostics to Grundfos’ current and coming customers as well as co-developing smart diagnostics capabilities in future products. The partnership will combine Augury’s unique knowledge within algorithm powered machine listening, with the deep expertise in water technology and pump systems of Grundfos to create ready-to-implement, world-class condition monitoring services and solutions. Ultimately presenting the companies’ customers across the globe with new, digitally enabled, resilient and reliable offerings with best in class competencies, technologies and market propositions.

“Artificial Intelligence (AI) and Machine Learning are transforming how we access and consume water,” said Fredrik Östbye, Group Vice President, Head of Digital Transformation at Grundfos. “We’re excited about our new partnership with Augury and together we will make water and pump systems more reliable, sustainable and resilient for years to come. Furthermore, together we can use our capabilities to create something new, adding more value to our customers based on our joint expertise.”

For Augury, this cooperation widens market access and provides exposure to Grundfos’ broad experience in the pump business. With Grundfos, Augury expects to further fine-tune its algorithms leading to the creation of new and innovative solutions - which will solidify Augury’s position as a leader in the predictive analytics market.

“We’re thrilled to be working with Grundfos,” said Saar Yoskovitz, Co-Founder and CEO of Augury. “Together we are in a unique position to shape the emerging market of connected devices as it introduces new business models that provide more value to end users. Our mission is to make machines more reliable while reducing their environmental impact and this partnership is a significant step to achieving that goal.”

The combination of Grundfos’ leading water and pump system expertise and Augury’s unique predictive analytics technology will create world-class condition monitoring services and solutions. This partnership will provide Grundfos’ current and future customers new, digitally enabled offerings that will transform the way they purchase, maintain and operate pumps.

“This partnership will accelerate and digitally enable our service offerings,” said Thomas Rosenkilde Anderson, Group Vice President, Grundfos Service & Solutions. “It will allow us to continue doing what we do best, providing great water solutions and services. Augury will bolster our capabilities to provide our customers solutions that detect problems before they cause loss of production and allow response time to fix them.”

This new strategic and co-development partnership is strengthening the business relationship, originally initiated in the United States of America, two years ago. Grundfos’ customers are already reaping the benefits of this sophisticated condition monitoring system, backed by a strong service agreement, allowing them to optimize productivity and protect their most valuable assets.

About Grundfos

Grundfos is a global leader in advanced pump solutions and a trendsetter in water technology. The company contributes to global sustainability by pioneering technologies that improve quality of life for people and care for the planet. As such its core activity aligns closely with the sustainability aspects of how we use water and manage water quality. Grundfos has over 18,000 employees working out of 56 countries all around the world. For more information, visit www.grundfos.com, follow @grundfos on Twitter, or visit our Facebook-page at www.facebook.com/Grundfos/.

About Augury

Augury is making machines more reliable by combining two key shifts in the industry: artificial intelligence and the Internet of Things. The intersection of these trends allows Augury to provide machines with a mechanical nervous system and the awareness to optimize their own health, thereby accelerating human productivity and safety. To learn more about Augury, visit www.augury.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180925005013/en/

CONTACT: Treble

Ethan Parker, 512-960-8222

augury@treblepr.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK MIDDLE EAST ISRAEL

INDUSTRY KEYWORD: TECHNOLOGY HARDWARE OTHER TECHNOLOGY MANUFACTURING OTHER MANUFACTURING NATURAL RESOURCES MINING/MINERALS

SOURCE: Augury

Copyright Business Wire 2018.

PUB: 09/25/2018 07:00 AM/DISC: 09/25/2018 07:01 AM

http://www.businesswire.com/news/home/20180925005013/en

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