In its effort to enhance industrial efficiency and sustainability, European Investment Bank Group (EIB Group) has committed to a €20 million financing deal with Samotics. This strategic investment will further enhance Samotics’ artificial intelligence-driven solutions for monitoring machine health and optimizing energy efficiency, contributing significantly to Europe’s digital and green transitions.

About SAMOTICS

Based in the Netherlands, Samotics is an electrical data analytics company specializing in condition monitoring and energy efficiency for industrial electric motor systems. The flagship technology developed by this company applies AI to predict equipment malfunctions, detects areas of energy inefficiency, and suggests applicable prescriptions that prevent unplanned downtime and reduce operational costs.

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EIB Financing Agreement

€20 million financing by EIB for speeding up Samotics’ R&D. It would be particularly invested in:

• Enhancing Machine Health Monitoring: Development of more precise predictive algorithms based on AI, predicting more precise failures.
• Optimizing Energy Efficiency: Further development of sophisticated analytics, aiming to determine the locations of potential losses in energy processes in the industrial sectors.
• Development of Next Generation of Integrated Solutions: Speed up development of full solutions integrated without creating disruptions into already established industrial structures.

This investment fits within the European Investment Bank’s mandate to promote digitalization and innovation in Industry 4.0 technologies, given their significant role in the green and digital transitions in Europe.

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The Role of AI in Industrial Efficiency

Artificial intelligence is increasingly a mainstay in the reinvention of industrial practices. Samotics focuses its AI-driven system on:

• Predictive Maintenance: Using AI to predict when equipment might break down to schedule preventive maintenance and thereby minimize unplanned stoppages.
• Energy Efficiency Optimisation: Examination of electrical data for any inefficiencies to make recommendations on corrective actions, which may result in significant saving in energy.

By adopting these AI solutions, industries can benefit more from increased reliability, reduced operating costs, and a smaller carbon footprint. Statements of Key Stakeholders

Robert de Groot EIB Vice-President underlined the importance of this investment: “This is one of those applications where the use of artificial intelligence can really make a difference. It highlights that modern challenges require modern solutions, and this intelligent way of pre-empting problems and optimizing energy efficiency is an important element in our decarbonization journey.” 

Jasper Hoogeweegen, CEO of Samotics, commented: “We are very excited about the collaboration. This funding from the EIB reflects the confidence in our technology and its potential to revolutionize industrial reliability and sustainability. It’s a defining moment for Samotics as we further accelerate our growth and innovation journey.”

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Working in line with European Initiatives

The EIB financing is covered by the “Future Tech” guarantee under the European Commission’s InvestEU initiative. The support emphasizes the EU’s commitment to further technological development which, in its opinion, would prove vital to its competitiveness and strategic autonomy. Reliability and energy efficiency are two main factors for public and private initiatives within Europe on decarbonization and sustainability.

The EIB support will definitely be the kick that Samotics needs to leap ahead in revolutionizing industrial activities. Its AI-based offerings will establish the benchmark for monitoring machine health and energy efficiency while creating more sustainable and reliable industries.

In times when industries face major digitalization and decarbonization hurdles, advanced AI technology integration, which Samotics spearheads, is likely to make a big difference in meeting the targets.