KBC Launches New Release of High-Fidelity Analytics Technology for Optimal Operation of Energy across the Process Industries
KBC (A Yokogawa Company) today announced the release of a new high-fidelity analytics technology, VM-MPO 6. It will allow scheduling engineers and operators to incorporate more precise forecasts into the decision making process, over various time horizons when dealing with multiple time-dependent constraints, resulting in increased optimization benefits of their energy systems.
Changes in electricity price contracts (e.g. real-time pricing, time of use pricing, critical peak pricing), variability of natural gas prices, and the capability of process plants to become electricity providers to the grid while managing a wide variety of energy sources (fossil fuels, renewables, etc.), impose unprecedented challenges to scheduling engineers that aim to deliver the most economic dispatch of energy to meet demand.
With this release, KBC’s first-to-market integrated optimal scheduling and real-time optimization offering for energy systems now has seamless integration with analytics platforms and external data analytics services to better predict unmodelled variables. The improved forecasts generated by these new capabilities result in users now being able to trigger more aggressive optimal actions, realizing additional benefits available in the system.
“Within any business decision, uncertainty exists due to time-related assumptions,” comments Andy Howell, CEO of KBC. “We are very excited to release VM-MPO 6 to make the process industries smarter, more real-time, nimble and agile, and in doing so, accelerate customers’ ability to save energy, achieve sustainability, and deliver operational excellence.”
VM-MPO 6 brings together data analytics, first principles and multi-period constraints in a purpose-built mixed integer optimization to continually ensure that the right decisions are made about which generation assets to start up, shut down and where to deploy energy at lowest economic cost. Case studies have demonstrated this new release’s ability to improve optimization benefits by 5 per cent.
VM-MPO 6 constitutes a major upgrade of already proven technology that enhances the industry’s leading real-time optimization technology, Visual MESATM Energy Real-Time Optimizer (VM-ERTO) by adding an upper decision layer where the time-sensitive variables are optimally defined. VM-MPO benefits from enhanced connectivity between data sources, forecasting methods, model structure and multi-period constraint capabilities for solving at speed. This technology further extends Yokogawa’s end-to-end portfolio of energy optimization solutions.
VM-MPO 6 is available today. To find out more please contact KBC directly or contact your local Yokogawa affiliate.
KBC, a wholly-owned subsidiary of Yokogawa Electric Corporation, is all about excellence in the Energy and Chemical industry. We make excellence real for our customers through the actions of our people fused with our technology and best practices. We provide leading software and expert services, powered by the cloud, to assure process operations achieve their full potential. Our customers achieve operating performance that surpasses ordinary standards, now and into the future. For more information, visit www.kbc.global.
Aaron Frank / Jennie Armley
Telephone: +44 (0)118 909 0909
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
San Fang Chemical Switches to Rimini Street Support for its Oracle EBS and Oracle Database Software22.8.2019 22:00:00 CEST | Press release
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that San Fang Chemical Co., Ltd., a global manufacturer and distributor of artificial leather products headquartered in Taiwan, has switched to Rimini Street support for its Oracle E-Business Suite application and Oracle Database software. In addition to immediately saving 50% of its annual maintenance costs that they were previously paying the vendor, the company can now maintain its core, robust Oracle system for a minimum of 15 years from the time that they switched to Rimini Street support with no forced upgrades. San Fang Chemical has also been able to liberate its IT resources and divert its substantial cost savings to invest in more forward-looking innovation projects to help pave the way for future growth and competitive advantage. This press release features mu
Gravity Unveils its Future Plans During Gamescom 201922.8.2019 15:46:00 CEST | Press release
Gravity Interactive, Inc., a subsidiary of Gravity Co., Ltd. (NASDAQ: GRVY) which is a leading global game company, participated in Gamescom which is one of the three largest game fairs in the world, held in Cologne, Germany from August 20th to 24th. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190822005507/en/ Gravity Interactive, Inc., a subsidiary of Gravity Co., Ltd. (NASDAQ: GRVY) which is a leading global game company, participated in Gamescom which is one of the three largest game fairs in the world, held in Cologne, Germany. At the fair, Gravity announced that it plans to launch ‘Ragnarok M: Eternal Love’ in the European region on September 4th 2019. ‘Ragnarok M: Eternal Love’ will be launched in Russia and Turkey, as well as Europe and it will be serviced in seven languages including English, Portuguese, Spanish, Russian, German, French, and Turkish. (Photo: Business Wire) On August 20th, Gravity held a presentati
RoboSense and Aidrivers Announce a Partnership to Deliver Superior Autonomous Solutions for Industrial Transportation22.8.2019 14:55:00 CEST | Press release
RoboSense, the leading supplier of LiDAR perception system solutions, and Aidrivers, the UK's leading provider of autonomous mobility solutions for industrial applications announced today a partnership in system integration. Aidrivers will integrate RoboSense Smart LiDAR Sensor System into their own Autonomous Driving Systems. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190822005468/en/ RoboSense and Aidrivers announce a partnership to deliver superior autonomous solutions for industrial transportation Aidrivers is delivering a fully autonomous natural navigation system that meets industrial safety standards to seaports, particularly for horizontal transportation, aimed for improving operation efficiency and leading the way in industrial autonomous mobility automation. Their solution can work under all harsh weather conditions by achieving true 3D mapping and localization for precision positioning and situation cognisance
Alight to Acquire NGA Human Resources, One of the Largest Multi-Country Payroll and HR Solutions Providers in the World22.8.2019 14:00:00 CEST | Press release
Alight Solutions, a leader in technology-enabled health, wealth and human capital management (HCM) and financial management solutions, today announced it has signed a definitive agreement to acquire NGA Human Resources, a leading provider of digital HR and multi-country payroll services. The proposed transaction is subject to customary closing conditions. With a nearly 50-year history, NGA HR brings innovation, high-quality service, HR and payroll expertise to its more than 250 clients, representing three million employees. As one of the largest multinational payroll providers, NGA HR is enabled to deliver HR & payroll services across more than 188 countries. Underpinning NGA HR’s HR and payroll expertise is its industry leading technology platforms including hrX, which provides companies with a centralized point to access their payroll and HR solutions including analytics; and its euHReka multi-tenant cloud payroll platform, which is localized to support payroll in 51 different countr
Andersen Global Premieres in Colombia22.8.2019 13:30:00 CEST | Press release
Andersen Global is proud to announce a collaboration agreement with a law firm in Colombia. Bogotá D.C.- based Jiménez, Higuita, Rodríguez & Asociados (JHR Corp.) is the first firm with which Andersen Global has developed a presence in the country. Colombia is the tenth country in Latin America in which Andersen Global has a presence with nearly 900 total professionals in the region. JHR, founded in 2017, employs approximately 50 legal and tax professionals, each with deep legal experience within accounting. JHR provides services to national and foreign companies, both private and public, and specializes in tax, customs, and exchange law. “We are a young firm, but we have a desire to be the very best in Colombia,” said Julián Jiménez Mejía, JHR Office Managing Director. “That drive has enabled us to grow so quickly and double our size in just two years. Our ambitions for our firm continue to increase, and we look forward to broadening our service capabilities and ability to provide sea
Mary Kay Appoints Katherine Weng General Manager for China22.8.2019 13:00:00 CEST | Press release
Mary Kay Inc., a leading corporate advocate of women’s empowerment and entrepreneurship, announced the appointment of Katherine Weng as General Manager for Mary Kay (China) Co., Ltd. Based in Shanghai, Weng will report directly to Mary Kay’s Asia Pacific Region President, KK Chua. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190822005337/en/ Katherine Weng, General Manager for Mary Kay China. (Photo: Mary Kay Inc.) “Katherine’s tireless work ethic, strategic mindset, and ability to forge long-term relationships have enabled Mary Kay China to reach new heights,” says Chua. “She is passionate about our mission to enrich women’s lives. She understands our Independent Beauty Consultants’ needs and works hard to fulfill those needs to support their businesses. Within the company, she has successfully created a seamless link between sales, marketing and operations. We look forward to continued growth in China under her leadershi