Senslytics Awarded $500k Grant to Advance AI-driven Corrosion Monitoring Solution for Pipelines

OCAST Grant will expedite the development of Senslytics innovative corrosion monitoring AI application. Additionally, the company plans to expand its workforce in Oklahoma City.

Senslytics, an artificial intelligence startup that provides early identification of risks for energy companies, has been awarded a two-year $500k grant from the Oklahoma Center for the Advancement of Science and Technology (OCAST) to develop a software application for identifying emerging corrosion issues in oil and gas pipelines.

Corrosion causes $2.5 trillion in damages globally, including $12 billion in damages in US oil and gas pipelines. Senslytics’ AI corrosion software solution will aim to reduce corrosion damage, improve maintenance budget efficiency for pipeline companies, and reduce damage to the environment and human safety.

Senslytics aims to achieve several key objectives with the grant:

• Advancement through pilot projects: Senslytics’ project plan calls for collaboration with midstream and pipeline service companies to conduct pilot projects; testing and improving the application's ability to detect corrosion earlier and more accurately than existing methods.
• Develop commercial-ready AI application: The AI will be developed into a cloud-based software application that can scale across assets and customers.

• Talent Acquisition: Senslytics will immediately expand its workforce in Oklahoma City.

Senslytics goal will be to provide reliable conclusions as to the cause of corrosion and its future growth, along with an explanation for these conclusions. The AI software will have future applicability in water and wastewater pipelines, ships, and many other assets affected by corrosion.

"Senslytics' patented technology is a new genre of AI that fills in data gaps using experts’ knowledge. In the context of corrosion monitoring, it specifically focuses on the causes that lead to corrosion, aiming to detect potential problems and providing explanations before they escalate." added Rabi Chakraborty, CTO and President at Senslytics.

The grant is part of the U.S. Treasury’s SSBCI funds administered through OCAST. Senslytics also received votes of confidence in 2023 through equity investments from Oklahoma-based venture capital funds Cortado Ventures and 46 VC.

"We’re pleased to announce our partnership with OCAST, a driving force behind innovation and technological-based advancement. Together, we are shaping a brighter future and making a significant impact in Oklahoma." said Blake Bixler, CEO at Senslytics.

About Senslytics:

Senslytics, a venture capital-backed startup, develops proprietary causal AI software applications for the energy sector. The Senslytics AI platform empowers engineers and energy professionals to improve decision-making in high-impact situations, reducing risks and improving capital efficiency.

About OCAST:

The Oklahoma Center for the Advancement of Science and Technology (OCAST) was established in 1987 by the Oklahoma legislature to grow and diversify the state’s economy through technology development, technology transfer, and technology commercialization.

For further information, please contact Senslytics at info@senslytics.com.