NEW YORK–(BUSINESS WIRE)–The American Society of Mechanical Engineers (ASME) and Black & Veatch announced today the launch of a new joint venture, Twinify Technologies LLC, to provide digital twin solutions serving clients in asset intensive industries. Headquartered in New York, Twinify will operate through a partnership between the International Society of Interdisciplinary Engineers (ISIE) LLC, a for-profit subsidiary of ASME, and Black & Veatch.
“Digital Twin technologies are essential to enhancing competitiveness, efficiency, and scalability for the power, water, and manufacturing sectors as they strive to provide reliable and cost-effective service delivery in a tighter operating and regulatory environment,” says ASME Executive Director/CEO Tom Costabile. “ASME has long been a leader in performance test codes and operating standards that can elevate the performance and capabilities of digital twin services. We are proud to team up with Black & Veatch, a leader in sustainable infrastructure, to build on their existing technology and develop new state-of-the-art digital twin solutions for a diverse range of clients.”
Twinify’s digital twin solutions will focus on improving infrastructure asset efficiency and responsiveness and reducing downtime. Powered by deep industry domain knowledge and a unique combination of domain models and artificial intelligence (AI), the company delivers integrated, OEM agnostic, adaptive planning capabilities that optimize performance and mitigate risk. Twinify will help clients in asset intensive industries to build, deploy and manage real-time digital twins, and develop and deploy digital twin standards and guidelines that address critical design and operational business issues.
“Clients across infrastructure sectors need services that can improve and accelerate how asset-intensive industries design, build, and operate critical assets and processes,” says Marty Travers, executive director of Black & Veatch. “Twinify’s offerings combine ASME’s leadership in bringing standards, best practices, education, and solutions to industry with Black & Veatch’s proven ability to operationalize domain expertise and asset analytics to solve complex industry challenges.”
Peter Marino will join Twinify Technologies as its interim chief executive officer. Most recently, he was senior manager of strategy and special projects for ASME. Marino has been with ASME since 2020. Previously, he was the founder and executive director of the Metropolitan Society for International Affairs in New York and has run technology and finance startups in London and Shanghai. The startup team includes Scott Stallard and Brian Baker, who each have more than 20 years of distinguished service with Black & Veatch and will serve as chief technology officer and chief architect, respectively. Four other Black & Veatch professionals will also join the startup.
“Twinify provides a critical solution at a transformative time for the infrastructure services industry,” says Marino. “The last two years highlight the importance of technology in delivering superior industrial efficiency and coordination in maintaining system stability while delivering economic growth and exceptional returns. The full impact of the digital industrial revolution is just now coming to bear, and Twinify is entering the market at the right moment to help our clients realize more value across their portfolios.”
As part of the new company’s operations, nDimensional, a leader in digital twin enablement, will aid Twinify in the delivery of advanced digital twin solutions.
For more information, visit https://twinify.com and follow Twinify on social media.
- Black & Veatch has deployed ASSET360™ and other asset performance management and data analytics solutions to leading energy, water, and commercial clients seeking optimized performance.
- ASME is globally recognized as the leader in consensus-developed codes and standards in the field of mechanical engineering. The Society’s portfolio includes over 500 standards covering topics from pressure technology, nuclear plants, elevators and escalators to additive manufacturing, energy storage, and robotics.
- ASME regularly convenes experts and tracks the latest developments in digital engineering including AI, IoT, digital twin, simulation, and computer aided design.
About Black & Veatch
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting, and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2021 exceeded US$3.3 billion. Follow us on www.bv.com and on social media.
ASME helps the global engineering community develop solutions to real world challenges. Founded in 1880 as the American Society of Mechanical Engineers, ASME is a not-for-profit professional organization that enables collaboration, knowledge sharing, and skill development across all engineering disciplines, while promoting the vital role of the engineer in society. ASME codes and standards, publications, conferences, continuing education, and professional development programs provide a foundation for advancing technical knowledge and a safer world. In 2020, ASME formed the International Society of Interdisciplinary Engineers (ISIE) LLC, a new for-profit subsidiary to house business ventures that will bring new and innovative products, services, and technologies to the engineering community, and later established the holding company, Global Knowledge Solutions LLC. In 2021, ASME launched a second for-profit subsidiary, Metrix Connect LLC, an industry events and content platform to accelerate digital transformation in the engineering community and an agent for the Mechanical Engineering® brand of media products. For more information, visit www.asme.org.
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