Altair Signs MoU with the University of Nottingham to Develop Aerospace Digital Twin Project

Rhea-AI Summary

Altair (Nasdaq: ALTR) has signed a memorandum of understanding (MoU) with the University of Nottingham for a groundbreaking aerospace digital twin project. The project aims to develop a fully-fledged solution for rapidly designing, validating, and testing electric propulsion systems in new aircraft or advanced air mobility vehicles. University researchers will have unlimited access to Altair's HyperWorks and RapidMiner platforms, empowering them with AI-powered multiphysics simulation and data analytics tools.

The collaboration supports the university's new Zero Carbon Innovation Centre, enabling the creation of a complete digital twin for electric propulsion systems. This partnership aligns with Altair's commitment to fostering innovation and sustainability in aerospace and transportation sectors.

Positive

• Partnership with a leading university to develop innovative aerospace technology
• Potential for creating industry-ready solutions for electric propulsion systems
• Expansion of Altair's presence in the aerospace sector
• Alignment with sustainability goals in transportation

Negative

• None.

Financial Analyst

Altair's MoU with the University of Nottingham represents a strategic move that could stimulate long-term shareholder value. The collaboration's focus on digital twin technology for electric propulsion systems is particularly noteworthy. This MoU can place Altair at the forefront of this emerging market, potentially driving future revenue growth through new product offerings and enhanced industry reputation. Such projects often result in intellectual property (IP) creation that can serve as a moat against competitors. Additionally, the partnership strengthens Altair's network in Europe, an important market for aerospace innovations. While the immediate financial impact might be limited, the strategic implications provide a strong foundation for sustainable growth.

Tech Expert

The use of Altair® HyperWorks® and Altair® RapidMiner® platforms in this project highlights their capability in AI-powered multiphysics and multi-domain simulation. These technologies are pivotal for creating a sophisticated digital twin model that can accurately simulate complex systems like electric propulsion. The integration of machine learning and data analytics ensures that the experimental data can be managed effectively, closing the loop between digital and physical models. This partnership validates Altair’s technology as a critical enabler for advanced aerospace applications, potentially leading to new use cases and customer adoption. With the industry's growing focus on electrification and sustainability, this project sets the stage for Altair to become a key contributor to next-gen aerospace innovations.

Market Research Analyst

From a market perspective, this MoU enhances Altair's position in the global aerospace market, which is increasingly focused on digital transformation and sustainability. The project’s aim to decarbonize transportation aligns with broader industry trends and regulatory pressures pushing for greener technologies. By associating with a prestigious institution like the University of Nottingham, Altair not only gains technological advantages but also bolsters its market credibility. This could attract more clients from the aerospace sector and beyond, interested in leveraging digital twin technologies for their sustainability goals. The MoU can be seen as a long-term play to capture market share in a niche but rapidly expanding segment.

University to use the Altair® HyperWorks® and Altair® RapidMiner® platforms in groundbreaking electric propulsion digital twin project

TROY, Mich., July 23, 2024 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational intelligence, has signed a memorandum of understanding (MoU) with the U.K.-based University of Nottingham for a digital twin project within the aerospace sector. The digital twin—set to be the first of its kind—will not merely be a technology demonstrator, but a fully-fledged solution the industry can use to rapidly design, validate, and test the electric propulsion systems of new aircraft or advanced air mobility (AAM) vehicles and/or to evaluate the retrofit of existing ones.

The agreement will give University of Nottingham researchers unlimited access to the Altair® HyperWorks® design and simulation and Altair® RapidMiner® data analytics and artificial intelligence (AI) platforms. The platforms will empower researchers with technology for AI-powered multiphysics and multi-domain simulation, along with full data analytics and machine learning technology to manage experimental data and close the loop between the digital and physical models. In addition, the agreement also provides the university team with access to Altair's high-performance computing (HPC) tools and unlimited training.

"Altair is committed to boosting innovation with a focus on next-generation sustainability in all sectors. This is why we partner with some of the most advanced universities and research centers in the world, like the University of Nottingham," said Dr. Pietro Cervellera, senior vice president of aerospace and defense, Altair. "Through our leading technology and expertise, our ultimate aim is to develop groundbreaking new solutions that open new possibilities and advance sustainability in aerospace, transportation, and beyond."

"We share Altair's vision of accelerating the creation and delivery of innovations that can transform the technologies and systems we use every day," said Chris Gerada, Professor of Electrical Machines and lead for strategic research and innovation initiatives at the University of Nottingham. "Altair's technology will help us to accelerate the translation of zero carbon research into real-world industry solutions that decarbonise transportation. Paired with our leading strengths in electrification, hydrogen and manufacturing, this collaboration increases our capabilities and boosts Altair's status as a key industry partner of choice for the university."

This MoU is a key achievement that supports the capabilities of the university's new Zero Carbon Innovation Centre, co-funded by East Midlands Freeport, to build a complete digital twin of an electric propulsion system. Thanks to the vast possibilities Altair's technology offers, the teams now have technology that spans energy storage (including batteries and fuel cells), power electronics and digital controllers, motors, cables, inverters, and the management of the systems' thermal, power, and electromagnetic interference (EMI).

For nearly 40 years has been a major player in providing software solutions for the aerospace industry. To learn more about Altair's aerospace solutions, visit https://altair.com/aerospace-and-defense.

About Altair

Altair is a global leader in computational intelligence that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. To learn more, please visit www.altair.com.

Media contacts
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SOURCE Altair

FAQ

What is the purpose of Altair's MoU with the University of Nottingham?

The MoU aims to develop a groundbreaking aerospace digital twin project for electric propulsion systems, which will be a fully-fledged solution for rapidly designing, validating, and testing new aircraft or advanced air mobility vehicles.

Which Altair (ALTR) platforms will the University of Nottingham researchers have access to?

Researchers will have unlimited access to Altair HyperWorks for design and simulation, and Altair RapidMiner for data analytics and artificial intelligence.

How does this partnership support Altair's (ALTR) business strategy?

The partnership aligns with Altair's commitment to boosting innovation and sustainability in aerospace and transportation sectors, potentially expanding their market presence and technological capabilities.

What specific capabilities will the digital twin project cover for electric propulsion systems?

The project will cover energy storage (batteries and fuel cells), power electronics, digital controllers, motors, cables, inverters, and management of thermal, power, and electromagnetic interference (EMI) systems.