LyondellBasell Signs Five-Year Expanded Contract with C3 AI to Accelerate Enterprise AI

Rhea-AI Summary

C3 AI (NYSE: AI) and LyondellBasell (NYSE: LYB) have expanded their strategic partnership for an additional five years to enhance the deployment of AI applications on the C3 AI Suite. Since their collaboration began in 2020, they have focused on optimizing asset management, supply chains, and plant reliability. C3 AI aims to revolutionize LyondellBasell's operations, boosting shareholder value and advancing competitiveness in the chemicals sector. This partnership underscores the commitment to enterprise digital transformation.

Positive

• Five-year expansion of strategic partnership between C3 AI and LyondellBasell to deploy AI solutions.
• Collaboration has resulted in improved asset and supply chain optimization since 2020.
• LyondellBasell aims to enhance operational efficiency and shareholder value using C3 AI's platform.

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• None.

REDWOOD CITY, Calif., HOUSTON & LONDON--(BUSINESS WIRE)-- C3 AI (NYSE: AI), the leading Enterprise AI software provider, and LyondellBasell (NYSE:LYB), a leader in the global chemical industry, today announced a five-year expansion of their strategic agreement to accelerate the deployment of enterprise, data-driven AI and machine-learning applications on the C3 AI® Suite across LyondellBasell.

Since the start of their collaboration in 2020, LyondellBasell and C3 AI have accelerated value creation by developing solutions to improve asset optimization, supply chain optimization, and plant reliability for the company.

“LyondellBasell is a global showcase success story in large-scale enterprise digital transformation,” said C3 AI CEO Thomas M. Siebel. “Our work with LyondellBasell is extraordinarily innovative in the digital space. We believe our close collaboration will shape the global market for enterprise AI applications in the chemicals industry.”

Building on a strong culture of operational excellence, LyondellBasell will utilize C3 AI’s cutting-edge technology and real-time data management platform to transform the company’s operations, generate value for its shareholders and customers, and advance competitiveness. The synergistic alliance will enable LyondellBasell to achieve the next level of performance and on its path to become the enterprise of the future.

“C3 AI is at the core of LyondellBasell’s digital transformation,” said Anup Sharma, SVP Global Business Services, LyondellBasell. “Through an industry leading approach, we will leverage strategic relationships to accelerate our journey and continue to unlock trapped value, improve the safety and reliability of our assets, and increase efficiency across the entire value chain.”

For more information on C3 AI and Enterprise AI solutions, visit https://c3.ai/what-is-enterprise-ai/.

About C3 AI

C3 AI is the Enterprise AI application software company. C3 AI delivers a family of fully integrated products including the C3 AI Suite, an end-to-end platform for developing, deploying, and operating enterprise AI applications and C3 AI Applications, a portfolio of industry-specific SaaS enterprise AI applications that enable the digital transformation of organizations globally.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220307005336/en/

C3 AI Public Relations

Edelman

Lisa Kennedy

415-914-8336

pr@c3.ai

Investor Relations

ir@c3.ai

Source: C3.ai

FAQ

What is the significance of the C3 AI and LyondellBasell partnership?

The partnership focuses on enhancing AI applications to optimize asset management and supply chains, significantly improving operational efficiency.

How long is the new agreement between C3 AI and LyondellBasell?

The recent expansion of their strategic agreement lasts for five years.

What outcomes have been achieved since C3 AI and LyondellBasell started collaborating?

They have achieved improvements in asset optimization, supply chain management, and plant reliability since their collaboration began in 2020.

What is C3 AI's role in LyondellBasell's operations?

C3 AI provides advanced AI technology to transform LyondellBasell's operations, aiming to improve efficiency and increase shareholder value.