• Ocyan concludes investment in Vidya Technology, a Brazilian startup specializing in asset integrity

    DATE: 11/23/2023

    Published by: Ocyan

    Ocyan has entered into an investment agreement with a stake in Vidya Technology, a startup focused on asset integrity. This is the first time that Ocyan has invested in a startup in the form of Venture Capital. Ocyan now holds a minority equity stake in the startup, which in turn will also be able to utilise the company’s assets and technical expertise for the execution of new innovative projects.

    The relationship between Ocyan and Vidya originated from the company’s startup connection programme, the Ocyan Waves Challenge, launched in 2019, with the aim of seeking startups that offered solutions to challenges identified as priorities by the company.  Through the second edition of the program in 2020, Vidya and Ocyan jointly executed two pilot projects: the first scope involved constructing a Digital Twin for BOP (Blowout Preventer), and the other focused on optimising the management of integrity and corrosion of FPSOs. The solution applied in both projects was Vidya’s software platform, which combines 3D models, reality capture, visualization capabilities, data processing, simulations and artificial intelligence, to ingest and contextualize data, solving industrial asset performance challenges. This approach reduces the time for equipment intervention and the need for field personnel, while increasing the efficiency and safety of assets.

    Vidya’s platform has the capacity to visually contextualise operational data and reality capture in the field, inspection processes, maintenance, and engineering, thus reducing equipment intervention time, and significantly decreasing the need for personnel onboard (POB). The adopted technology utilises 3D virtual representation, heat maps, autonomously identifies and classifies anomalies using computer vision, optimises alert management, and integrates into the industrial operation’s technological environment. The results generated in each of the possible applications of the Vidya platform bring a return on investment in just a few months for industrial plant operators.

    The integration of Vidya’s expertise with Ocyan’s operations will provide substantial gains in areas such as predictive maintenance, operational safety and asset management. Furthermore, this partnership reflects Ocyan’s commitment to supporting the Brazilian innovation ecosystem, especially the development of deeptech startups. Vidya is an example of entrepreneurship and innovation in technology in Brazil and Ocyan is thrilled to be part of this trajectory.

    According to Rodrigo Lemos, Vice President of New Energies and Services at Ocyan, the company’s participation is strategic and should contribute to the growth of the startup, as well as the diversification of Ocyan’s businesses. “We are excited about this new stage in our partnership with Vidya and the opportunities it will bring for both companies. This movement demonstrates our commitment to driving innovation and improving our operations, creating value for our Clients and strengthening our position in the Oil, Gas, and Energy industry,” states the executive.

    According to Otávio Correa, CEO of Vidya Technology, in addition to being strategic for the startup’s growth in the national and international market, the partnership should boost the evolution of products, artificial intelligence and operations, which could generate even more gains for all of Vidya’s clients. “Ocyan’s participation is an opportunity for growth and comes at a very opportune moment, providing greater support for the expansion of our operations in the United States,” he said.

    For Correa, the expectation with the expansion is to position the startup with the world’s major oil and gas and energy corporations. “We offer technologies and solutions that are very competitive internationally,” he pointed out.

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