Flowserve Expands its RedRaven IoT Solutions for Valves

Rhea-AI Summary

Flowserve Corporation (NYSE: FLS) has expanded its RedRaven industrial IoT service suite to include valve-specific capabilities, enhancing monitoring of flow control systems. This upgrade allows companies to proactively track valve health, reducing downtime by alerting users to performance deviations. The RedRaven system is manufacturer agnostic, facilitating compatibility with existing infrastructure at lower costs. This development aims to improve operational efficiency and support sustainability goals through better energy management and increased uptime.

Positive

• Expansion of RedRaven IoT service suite to include valve monitoring.
• Proactive identification and resolution of valve issues to minimize downtime.
• Manufacturer agnostic system compatible with existing digital positioners, reducing infrastructure costs.
• Increased energy efficiency and support for sustainability goals.

Negative

• None.

Allows users to proactively monitor valves, helping improve uptime and productivity

DALLAS--(BUSINESS WIRE)-- Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today it has expanded its revolutionary industrial IoT service suite, RedRaven – giving companies even greater insight into the performance of their flow control systems by now offering valve-specific capabilities.

With RedRaven IoT solutions available for both pumps and valves, companies can now monitor valve health to proactively identify and address issues before they cause downtime.

Using multiple connectivity options, RedRaven monitors valve performance trends and alerts users when a valve deviates from normal operating conditions. The RedRaven solution is also manufacturer agnostic and works with most plant’s existing digital positioners – meaning it can monitor hundreds of valves across large industrial facilities without expensive infrastructure, installation and/or additional hardware costs.

“We understand that companies around the world are looking for ways to streamline their operations while balancing the challenges associated with aging equipment, complex datasets, and limited equipment-specific expertise and maintenance personnel,” said Tauseef Salma, Vice President, Global Marketing & Technology. “With RedRaven’s capabilities for both pump and valve equipment now, companies can have greater insight into their holistic flow control system while also better meeting their sustainability goals through increased energy efficiency and uptime.”

RedRaven communicates both the health and performance of valves throughout a facility. Equipped with data-enabled insights across multiple locations, users can make significant improvements to enhance equipment efficiency and reduce associated carbon emissions.

RedRaven valve services also provide insight monitoring, which gives users a detailed view of valve health through an online cloud portal and offers users greater access to experienced Flowserve technical and service professionals. With RedRaven’s expanded capabilities and increased span of monitoring for both pump and valve equipment, companies can have a more comprehensive view of their flow control system, helping to further increase uptime, lower maintenance costs, and improve safety and reliability.

For more information, visit https://www.flowserve.com/IOT.

About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.

Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; our ability to execute and realize the expected financial benefits from our strategic manufacturing optimization and realignment initiatives; economic, political and other risks associated with our international operations, including military actions or trade embargoes that could affect customer markets, particularly Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela; our furnishing of products and services to nuclear power plant facilities and other critical processes; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; a foreign government investigation regarding our participation in the United Nations Oil-for-Food Program; expectations regarding acquisitions and the integration of acquired businesses; our ability to anticipate and manage cybersecurity risk, including the risk of potential business disruptions or financial losses; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; and other factors described from time to time in our filings with the Securities and Exchange Commission.

All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211103006271/en/

Investor Contacts:

Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560

Mike Mullin, Director, Investor Relations, (972) 443-6636



Media Contact:

Lars Rosene, Vice President, Corporate Communications & Public Affairs, (972) 443-6644

Source: Flowserve Corporation

FAQ

What new capabilities has Flowserve added to its RedRaven IoT service suite?

Flowserve has expanded its RedRaven IoT service suite to include valve-specific capabilities, allowing for proactive monitoring and management of valve health.

How does the RedRaven system help companies?

The RedRaven system alerts users to performance deviations in valves, helping to reduce downtime and improve the overall efficiency of flow control systems.

Is RedRaven compatible with existing infrastructure?

Yes, RedRaven is manufacturer agnostic, meaning it can work with most existing digital positioners, avoiding costly infrastructure upgrades.

What are the sustainability benefits of the new RedRaven capabilities?

The enhanced monitoring capabilities support sustainability goals by improving energy efficiency and increasing uptime.

What is the stock symbol for Flowserve Corporation?

The stock symbol for Flowserve Corporation is FLS.