Akselos, a leader in physics-based Digital Twins, has deployed its software for over 40 customers worldwide. With the closing of a $16.5 million funding round, the company has strengthened its position to drive future growth.
Participants in the round include AT Capital Group, Future Energy Ventures, Japan Energy Fund and Shell Ventures. The funds will enable Akselos to boost its ongoing global growth, enabling it to scale both its team and solutions to optimise the energy industry’s existing infrastructure and accelerate the large-scale deployment of renewable energy. This is a crucial step toward the company’s aim of providing technology to enable the energy transition in line with Akselos’ commitment to the IEA Net Zero 2050 roadmap.
Since its inception in 2012, Akselos and its team of 90 employees provide engineering simulation software that is 1000X faster and 10x more accurate than legacy approaches when modelling large-scale assets. Based on patented algorithms developed over 15 years of research at MIT and funded by the US Department of Defense, the solution simulates exact virtual replicas, or predictive and accurate Digital Twins, of energy assets such as offshore wind turbine and their foundations. The company’s products help to optimize clients’ designs at an unprecedented scale, run condition-based monitoring and predictive maintenance programs, and safely extend the life of their assets, from wind turbines, and pressure vessels to large floating structures.
With operations in Europe, the USA, and SouthEast Asia, Akselos serves more than 40 companies worldwide, including some of the largest companies in the energy sector that use Akselos’ physics-based digital twin software, Akselos Integra & Akselos Innovate, to protect their most critical assets, learn from the Digital Twins and design the next generation of assets.
(Press release/RAN)
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