Platform Gives Companies Remote Control Over Critical Aspects of Operations
RedRaven Delivers the Future of Production to Keep Industries Up and Running
DALLAS, TX — Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today the launch of a revolutionary IoT service suite to help production facilities monitor their assets remotely, predict equipment failures before they happen and take preventive measures to avoid business disruptions. Called RedRaven, the new platform supports any flow control equipment regardless of manufacturer, opening the door for companies to quickly realize the full benefits of IoT and predictive analytics without major infrastructure changes.
IIoT-based predictive maintenance solutions are expected to reduce factory equipment maintenance costs by 40%, according to Deloitte. Predictive maintenance can also reduce safety, health, environment and quality risks by 14% and extend the life of an aging asset by 20%, according to PwC.
“We’re betting big on IoT to help companies avoid costly downtime, which is not feasible in today’s world,” said Scott Rowe, Flowserve president and chief executive officer. “The COVID-19 pandemic illustrated the critical importance of digitization in production facilities for business continuity, and RedRaven can help companies accelerate their digital transformation to start reaping the numerous productivity and profitability benefits of IoT.”
RedRaven is a services platform that takes a systems approach. Available with wireless or wired options based on applications, it includes sensors that are placed on industrial equipment and gateways that collect data from assets and then transmit it to the cloud with a secure, data-encrypted solution. Companies can access critical data on their equipment performance via Flowserve’s secure Insight Portal dashboard. A big differentiator in the marketplace is Flowserve’s dedicated remote monitoring facility, which is staffed by a team of technical specialists who don’t just identify problems, but also tell companies how to fix the issues and support them throughout their entire IoT journey. RedRaven works for any company with flow control equipment such as those in the oil and gas, water, chemical, power, food and beverage and mining industries, among many others.
Key advantages of RedRaven include:
- Reduce expensive downtime and repairs with the ability to predict failures of critical assets before they happen and take preventive action
- Identify and fix issues immediately with near-real-time monitoring from any location
- Improve efficiency, productivity and worker safety with the ability to determine when and where technicians are needed and avoid unnecessary equipment checks
- Gain real insights to make informed decisions that improve plant productivity and profitability
- Run equipment at peak performance and reduce total cost of ownership
The name RedRaven comes from the bird known for its intelligence and insight.
To learn more, visit www.flowserve.com/iot
Jay Roueche, Vice President, Investor Relations, 1+972-443-6560
Mike Mullin, Director, Investor Relations, 1+972-443-6636
Lars Rosene, Vice President, Corporate Communications & Public Affairs, 1+972-443-6644
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 website at www.flowserve.com.
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