Zapata AI Joins KT Consortium to Help Transform Chemical Engineering Processes Using Generative AI

Rhea-AI Summary

Zapata AI has announced its membership in the KT Consortium, a collaborative group of global chemical and biochemical manufacturers. This partnership allows Zapata AI to work with industry leaders such as Henkel, Mitsubishi Chemical, and Total Energy to advance chemical compound development using generative AI and quantum techniques. The consortium, which includes companies generating over USD $100 billion annually, aims to leverage Zapata AI's optimization, predictive modeling, and virtual sensor capabilities to enhance manufacturing processes. CEO Christopher Savoie highlighted the potential for transformative technology applications in the industry. Zapata AI's membership follows its history of successful collaborations with top-tier manufacturers and research in quantum algorithms. The KT Consortium focuses on state-of-the-art chemical and biochemical engineering methods, aiming to reduce costs and accelerate development timelines.

Positive

• Zapata AI joins KT Consortium, partnering with global industry leaders.
• Consortium members generate over USD $100 billion annually.
• Zapata AI to enhance chemical manufacturing using generative AI and quantum techniques.
• Potential for significant efficiencies and cost reductions in chemical development.
• Partnership provides Zapata AI with access to top decision-makers in the industry.
• Zapata AI has a strong history of successful collaborations with industry leaders.

Negative

• None.

Membership in the consortium will enable Zapata AI to collaborate directly with the world’s foremost chemical and biochemical manufacturers.

BOSTON, June 24, 2024 (GLOBE NEWSWIRE) -- Zapata Computing Holdings Inc. (“Zapata AI” or the “Company”) (Nasdaq: ZPTA), the Industrial Generative AI company, today announced that it has joined the KT Consortium, a collaborative body connecting global industry leaders in chemical and biochemical manufacturing with the state-of-the-art technologies emerging from academia. As consortium members, Zapata AI will collaborate with some of the world’s leading chemical and biochemical manufacturers — members include Henkel, Mitsubishi Chemical, Neste, Total Energy, Syngenta, Arkema among other leaders — leveraging its optimization, virtual sensor, predictive modeling, and generative AI capabilities to accelerate chemical compound development and manufacturing at scale. Collectively, KT Consortium member companies generate more than USD $100 billion in annual revenue, and produce compounds that make everyday life possible for consumers around the globe, from pharmaceuticals to crop protection, energy, and laundry detergent.

“The KT Consortium represents some of the world’s foremost innovators in the chemical and biochemical industries and we are proud to be selected for membership,” said Christopher Savoie, CEO and co-founder of Zapata AI. “Industrial generative AI has the potential to be a transformative technology for the chemical and biochemical industries, even more so with the addition of quantum techniques. Working directly with these industry leaders will give us unparalleled insight into how these technologies can help solve their most complex challenges and deliver a competitive advantage. Joining the consortium is a testament to our technological leadership, world-class research team, and industry-leading expertise in generative AI and quantum.”

Zapata has an extensive history of successful partnerships with leading chemical and biochemical manufacturers, with clients including BASF and BP, and a track record of published research in quantum algorithms for chemical discovery. Joining the KT Consortium provides Zapata AI with the opportunity to work closely with top decision makers at the world-renowned chemical and biochemical manufacturers that make up the consortium, leveraging its hardware- and software-agnostic platform, quantum algorithms, and generative AI capabilities to generate significant value and efficiencies for the industry.

“Zapata AI has long been a reliable research partner with a strong track record of applying the latest innovations in AI and quantum to complex industrial challenges,” said Seyed Soheil Mansouri, Associate Professor at the Technical University of Denmark (DTU) Department of Chemical and Biochemical Engineering. The consortium is associated with the department, which Zapata AI has been partnered with since 2023 to apply quantum-enhanced generative AI to pharmaceutical manufacturing. “The Consortium selected Zapata for membership because of its breadth of capabilities, from the Orquesta platform, to its innovative scientific solutions, to its industry-leading generative AI and quantum expertise. We look forward to bringing Zapata's technologies to global leaders in the chemical and biochemical manufacturing industries.”

KT Consortium is a unique industry-academia collaboration where members are provided collaboration opportunities focused on state-of-the-art methods and tools for chemical and biochemical engineering, with an emphasis on Process Systems Engineering (PSE), applied thermodynamics, and property prediction.

“We are thrilled to welcome Zapata AI to the KT Consortium,” said Georgios Kontogeorgis, KT Consortium Head and Professor at the DTU Department of Chemical and Biochemical Engineering. “Zapata’s cutting-edge advancements in quantum generative AI represent a significant leap forward for our industry partners, with the potential to dramatically reduce the costs and time associated with chemical and biochemical development and manufacturing. Together, we are poised to drive transformative progress and set new standards in the industry.”

About Zapata AI
Zapata AI is the Industrial Generative AI company, revolutionizing how enterprises solve complex operational challenges with its powerful suite of generative AI software applications and cutting-edge reference architecture. By combining numerical and text-based generative AI models and custom software applications to power industrial-scale solutions, Zapata AI enables enterprises and government entities to drive growth, cost savings through operational efficiencies, and critical operational insights. With its proprietary data science and engineering techniques, and the Orquestra^® platform, Zapata AI is accelerating Generative AI’s impact across industries by delivering solutions which are higher performing, less costly, and more accurate and expressive than current, classical approaches to AI. The Company was founded in 2017 and is headquartered in Boston, Massachusetts.

About KT Consortium
KT Consortium is an industry-academia collaboration where members are provided networking opportunities and state-of-the-art methods and tools for chemical and biochemical engineering with emphasis in Process Systems Engineering (PSE), applied thermodynamics and property prediction. Our objectives are to develop generic methods and tools using computer aided systems approach to solve and analyze problems related to product-process modelling, simulation, synthesis, design, analysis, control, & operation for companies operating within the areas of chemical, pharmaceutical, agrochemical, food and biochemical industry.

Forward Looking Statements
Certain statements made herein are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding future events and other statements that are not historical facts. These statements are based on the current expectations of Zapata AI’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. These statements are subject to a number of risks and uncertainties regarding Zapata AI’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, Zapata AI’s ability to attract new customers, retain existing customers, and grow; competition in the generative AI industry; Zapata AI’s ability to raise additional capital on non-dilutive terms or at all; Zapata AI’s failure to maintain and enhance awareness of its brand; and the risks and uncertainties discussed in the Company’s filings with the Securities and Exchange Commission (including those described in the Risk Factors section in the Company’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q).

While Zapata AI may elect to update these forward-looking statements at some point in the future, Zapata AI specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Zapata AI’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts:
Media: press@zapata.ai or zapataai@icrinc.com
Investors: investors@zapata.ai

FAQ

What is the KT Consortium that Zapata AI joined?

The KT Consortium is a collaborative group connecting global industry leaders in chemical and biochemical manufacturing with emerging state-of-the-art technologies.

How will Zapata AI benefit from joining the KT Consortium?

Zapata AI will collaborate with leading chemical and biochemical manufacturers to leverage generative AI and quantum techniques to enhance manufacturing processes and compound development.

Which companies are part of the KT Consortium with Zapata AI?

The KT Consortium includes companies such as Henkel, Mitsubishi Chemical, Neste, Total Energy, Syngenta, and Arkema, among others.

What is the financial impact of the KT Consortium members?

KT Consortium member companies collectively generate more than USD $100 billion in annual revenue.

What technologies will Zapata AI bring to the KT Consortium?

Zapata AI will contribute its expertise in optimization, virtual sensor, predictive modeling, and generative AI capabilities.

How does the KT Consortium aim to improve chemical and biochemical engineering?

The consortium focuses on state-of-the-art methods and tools for chemical and biochemical engineering, emphasizing Process Systems Engineering, applied thermodynamics, and property prediction.

When did Zapata AI start its partnership with DTU?

Zapata AI has been partnered with the Technical University of Denmark (DTU) since 2023 to apply quantum-enhanced generative AI to pharmaceutical manufacturing.