The Recycler
  • Katun March Web Advert 2021
  • Ninestar web banner November 2022 Masthead
  • Static Control June 2022 Masthead Ad
  • Biuromax Web banner June 2022

Xerox’s PARC spins out Novity

Xerox’s PARC spins out Novity

November 3, 2022

Xerox has spun out Novity, a start-up founded by Xerox’s Palo Alto Research Centre that has developed and commercialised industrial predictive maintenance technology.

The Novity solution was launched by PARC earlier this year and is an Industrial Internet of Things (IIoT) technology that uses equipment sensors and proprietary algorithms to enable industrial manufacturers to see the future health of their production assets without large amounts of historical data.

“PARC’s goal has always been to incubate, launch and commercialise disruptive technologies, and Novity is an excellent example of this model in action,” said Naresh Shanker, Chief Technology Officer at Xerox and President at PARC. “We are proud of Novity’s success to-date and look forward to following the journey as it grows beyond PARC and brings manufacturers closer to the ultimate goal of zero unplanned downtime.”

The Novity TruPrognostics engine relies on a combination of machine learning and physics-based models of equipment, predicting failures with 90% or better accuracy and lead times of months, not weeks or days.

“Our commitment to existing and future industrial customers is to fundamentally transform the performance of a key part of their operations and ensure that it performs consistently and predictably,” said Markus Larsson, Founder and CEO, Novity. “With the combination of our team and PARC’s IP embedded in the Novity TruPrognostics engine, we’re well on the way to deliver on our mission to make manufacturers operate cleaner, faster and better.”

With the spin out, Xerox said it will maintain a minority stake in Novity.

Categories : City News

Tags : Business Novity Spin out Start-up Xerox

  • GPI November 2022 Web advert
  • Mito December 2022 Web banner
  • Apex Web Ad September 2022
  • GM Tech Web ad September 2022
  • Aster November 2022 Web advert
  • GM Technology Web 2022 Ad
  • Static Control June 2022 Big & Bold Ad
  • IR Italiana Web ad January 2021
  • Ink Tank december 2022 Web Advert
  • PCL Web ad January 2021
  • HYB October 2022 Web banner
  • CET June 2022 Web ad
  • ITP Web ad January 2021
  • CTS New Ad March 2022
  • Zhono Web Ad October 2022
  • PCL Web ad January 2021
  • CTS New Ad March 2022
  • HYB October 2022 Web banner
  • Zhono Web Ad October 2022
  • ITP Web ad January 2021
  • CET June 2022 Web ad
  • PCL Web ad January 2021
  • Zhono Web Ad October 2022
  • CTS New Ad March 2022
  • ITP Web ad January 2021
  • HYB October 2022 Web banner
  • CET June 2022 Web ad

The Recycler, Wittas House, Two Rivers, Station Lane, Witney, OX28 4BH, United Kingdom | Tel: +44 (0) 1993 899800 | Fax : +44 (0) 1993 226899
©2006-2021 The Recycler - Terms & Conditions - Privacy Policy including cookie use

Web design Dorset | Websites by Mark