Flotek Industries, Inc. Releases AIDA, an Advanced Machine Learning Application to Reduce Transmix-Related Costs

Rhea-AI Summary

Flotek Industries, via its subsidiary JP3 Measurement, launched the AIDA application, enhancing real-time detection of interfaces in liquid pipelines. This patent-pending algorithm allows operators to detect product interfaces in 60 seconds, minimizing transmix and product downgrades, thus potentially increasing profit margins. The AIDA application is compatible with existing Verax analyzers, which improve measurement efficiency and reduce maintenance costs. This innovation aligns with sustainability goals, decreasing the energy needed for transporting and reprocessing products.

Positive

• Launch of AIDA, enhancing pipeline efficiency with 60-second detection.
• Potential for reduced product downgrades and increased profit margins.
• Compatibility with existing Verax analyzers, enhancing operational efficiency.
• Aligns with ESG goals by reducing energy consumption.

Negative

• None.

AUSTIN, Texas, Oct. 15, 2021 /PRNewswire/ -- JP3 Measurement, LLC ("JP3"), a wholly-owned subsidiary of Flotek Industries, Inc. (NYSE: FTK) today announced the release of AIDA, a revolutionary new patent pending application for its line of Verax^TM near infrared real-time analyzers. Short for "Automated Interface Detection Algorithm," the AIDA application provides real-time detection of interfaces in a liquids pipeline.  Rapidly deployable on Verax^TM analyzers without the need for additional sampling or chemometric modeling, the AIDA application can identify products such as refined fuels, crude and NGLs with its advanced machine learning algorithms that detect interfaces within 60 seconds.  This allows operators to cut batches quickly and accurately, reduce the mixing of two separate products (known as "transmix") and minimize off-spec product that requires downgrades.

"The AIDA application is a game-changer in transportation of multiple products in a common pipeline," said TengBeng Koid, JP3's President. "The rapid identification of batch interfaces allows operators to reduce product downgrades and transmix significantly and hence increase their profit margins. It can also reduce their carbon footprint, as a reduction in transmix means less energy is needed for transportation and reprocessing of transmix, thus enhancing their ESG scorecard." 

The AIDA application is compatible with all JP3 Verax^TM analyzers.  Verax^TM analyzers can measure hydrocarbon composition, vapor pressure, boiling point, flash point, API gravity and other physical properties in seconds. Verax^TM analyzers have no moving parts, no consumables, and no sample conditioning system, which extends system life and reduces maintenance costs.

To learn more about technical aspects of AIDA, please visit https://www.jp3.com/products/aida-application or contact sales@jp3.com.

About JP3 Measurement, LLC

Headquartered in Austin, Texas, JP3 Measurement, LLC was founded in 2005 and provides the industry's only field deployable, real time, in-line optical analyzer for both liquid and natural gas measurement. With hundreds of measurement points in the field, JP3 is focused on improving the quality of hydrocarbon measurement and process control for the oil & gas industry. JP3 has been a wholly owned subsidiary of Flotek since May 2020. For additional information, please visit www.JP3.com.

About Flotek Industries, Inc.

Flotek Industries, Inc. creates solutions to reduce the environmental impact of energy on air, water, land and people. A technology-driven, specialty green chemistry and data company, Flotek helps customers across industrial, commercial, and consumer markets improve their Environmental, Social, and Governance performance. Flotek's Chemistry Technologies segment develops, manufactures, packages, distributes, delivers, and markets high-quality cleaning, disinfecting and sanitizing products for commercial, governmental and personal consumer use.  Additionally, Flotek empowers the energy industry to maximize the value of their hydrocarbon streams and improve return on invested capital through its green chemistry technologies and JP3's real-time data platforms.  Flotek serves downstream, midstream, and upstream customers, both domestic and international.  Flotek is a publicly traded company headquartered in Houston, Texas, and its common shares are traded on the New York Stock Exchange under the ticker symbol "FTK." For additional information, please visit www.flotekind.com.

 

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SOURCE Flotek Industries, Inc.

FAQ

What is the AIDA application from Flotek Industries (FTK)?

The AIDA application is a new machine learning tool for real-time detection of interfaces in liquid pipelines, minimizing product downgrades.

How does AIDA improve operational efficiency for FTK?

AIDA allows for rapid detection of batch interfaces in 60 seconds, reducing transmix and enhancing profit margins.

When was the AIDA application released by Flotek Industries (FTK)?

The AIDA application was released on October 15, 2021.

What benefits does AIDA provide to operators using FTK's products?

The application helps reduce mixing of products, cuts down on off-spec product, and improves ESG performance by lowering energy usage.