DENVER--(BUSINESS WIRE)--Plutoshift, the leader in data intelligence for industrial processes, and Water Foundry, a global advisor in solving water-related challenges and driving technology innovation, today announced a new partnership to develop and implement digital strategies for businesses that rely on water in their operations. Business Water refers to the use of critical assets and resources to strategically value and manage water in industrial operations. The underlying dimensions of Business Water are value, full cost, waste, efficiency, reuse and supply of water, making it one of the biggest challenges in industrial operations.
“Plutoshift’s unique approach of applying AI in a practical and focused way — we call it ‘Grounded AI’— and Water Foundry’s unparalleled expertise in corporate water strategy and adoption of innovative digital technologies together make for a powerful combination. Joining forces will allow us to drive change, engage in strategic thought leadership and deliver real value to companies that face Business Water challenges,” said Prateek Joshi, CEO and founder of Plutoshift.
Plutoshift’s specialized view of process performance for industrial companies creates a unified window and insight into manufacturing operations through sophisticated software that leverages the Grounded AI framework to drive action and quantitative return on investment (ROI) outcomes.
Water Foundry works with many of the world's most recognized brands on mitigating water-related risks. The company is committed to building an ecosystem of partners with a shared vision that collectively we can ensure a future where water is abundant for economic development, business growth and social well-being.
“New digital technologies are enabling water utilities and industries across the world to extract greater information and efficiencies from legacy water infrastructure. This means enhanced decision-making, greater promotion of water conservation, the building of twenty-first century water infrastructure, and — perhaps most importantly — increasing the value and benefits of the global water infrastructure network,” said Will Sarni, founder and CEO of Water Foundry. “The issues surrounding water can’t be solved by one stakeholder. Only when we bring together thought leaders and visionaries that can solve different parts of the puzzle can we truly make an impact.”
To kick off the partnership, Joshi will be participating in the Digital Water Technology Workshop for the Colorado River Basin, designed and convened by Water Foundry and the Environmental Law Institute on October 23 in Denver. The workshop will highlight challenges in the Colorado River Basin that could be addressed through digital solutions, map and prioritize feasible technological solutions for the basin, and identify and define two to three digital technology pilot projects to implement in the Colorado River Basin.
In order to address water scarcity and quality issues, manufacturing companies and other industry players need to be more efficient with their resources and reduce waste. This means adopting new tools, technologies and processes. According to a recent Plutoshift survey of manufacturing companies, nearly half (48 percent) of companies still use spreadsheets or other manual data entry documents. As a result, only 12 percent are able to take action on their data insights automatically. Plutoshift and Water Foundry’s partnership will allow companies encountering barriers to using their data to get a holistic view of their operations, leading to more efficient use of resources.
Prateek Joshi founded Plutoshift in 2016 with the vision of connecting the constantly changing realities of the physical world with the monitoring power of intelligent software. This effort resulted in helping industrial operators harness the power of existing plant data related to operations, finances, and maintenance spread across different systems. Plutoshift is the leader in data intelligence for industrial processes. Their cloud-based solution offers real-time tracking of process metrics and proactive management of resources for manufacturing businesses. Plutoshift’s Grounded AI technology transforms passive legacy monitoring systems to active performance monitoring in industries like water, food, beverage, brewing, chemicals, and energy. This enables operators to automatically monitor critical processes and have access to actionable information in real-time. Plutoshift has offices in Palo Alto and Denver.
About Water Foundry
Water Foundry creates working water strategies for US and non-US multinationals, non-governmental organizations and the public sector. These strategies range from initial water strategy efforts to moving companies to more advanced water stewardship strategies and validating program performance. The company has been at the forefront in working on collective action programs with diverse stakeholder groups and quantifying the business value of water strategies. Water Foundry was founded by Will Sarni, an internationally recognized thought leader on water strategy and innovation. Learn more at www.waterfoundry.com.