Fluitec Wind CEO Frank Magnotti is Scheduled to Speak at the SXSWEco Conference in Austin Today
Fluitec Wind is one of six finalists in the Cleanweb category and will share its proprietary Big Data Analytic Platform for Wind Turbines.
Jersey City, NJ (PRWEB) October 08, 2013
Fluitec Wind CEO Frank Magnotti is scheduled to speak at the SXSWEco Conference in Austin, TX today. As one of the six finalists in the Cleanweb category, Fluitec will share its proprietary Big Data Analytic Platform for Wind Turbines.
The SXSWEco conference is centered on furthering innovation and action around sustainability initiatives. In the same way that other SXSW events have influenced tech trends, debuted Oscar-winning films and launched globally successful musical artists, SXSWEco aims to lead the way to innovative business solutions around sustainability and climate change.
Fluitec Wind is a clean technology company focused on decreasing the cost of wind turbine operations and maintenance through advanced data analytics. Fluitec has amassed a global database of operational, genetic and diagnostic data from turbines representing 10GW or 25,000 turbine years. Without any additional capital expense, without any new sensors and monitoring systems, and with the massive existing data a turbine operator has, Fluitec can predict specific failures to within 3 months. This allows for significant reduction in costly unscheduled maintenance and more effective scheduled maintenance.
"The typical return on this kind of an investment is 5-10 x, and with the savings gained working with us, can add 1-2% profitability to the bottom line of turbine operators,” Magnotti said.
Fluitec Wind's parent company, Fluitec, SA, provides condition monitoring, advanced filtration equipment and additives to extend the life of lubricants and increase the availability of rotating machinery. Fluitec products are in nuclear, coal, and gas power generation facilities in over 40 countries.
Fluitec Wind is a rapidly growing technology company with a well-defined mission, a defined niche, and a passion to execute. The company has been awarded $3.3 million in funding from the State of New Jersey through the Clean Energy Manufacturing Fund (CEMF). In addition, in 2012 the company won an award at the prestigious Castrol 20/20 initiative in recognition of its innovation in the use of lubricants.
Fluitec Wind is a wholly owned subsidiary of Fluitec. Fluitec's expert team comprises recognized thought leaders in the lubrication world. The parent company was voted top awards at the Cleantech Forums in Paris and New York in 2010.
Fluitec, based in Jersey City, New Jersey is a privately-held company. It provides customers in over 40 countries leading edge technologies and knowledge to realize optimum reliability and productivity of their lubricating assets. In 2010, Fluitec received an award for the “Most Promising Innovation” from Cleantech in New York City. Its business has averaged 70% annual growth over the last four years. Fluitec has developed several technologies to monitor and maintain lubricants. One of FLUITEC’s flagship condition monitoring products, the RULER™, is a patented technology to determine the remaining useful life of lubricants. The company has also developed the industry's leading, patent-pending lubricant varnish mitigation technology called Electrophysical Separation Process™.
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