Business Wire

FutureOn Secures Investment from the Bentley Acceleration Fund for Oil & Gas Digitalization

Share

FutureOn, the fast-growing Norwegian software company that works with an expanding portfolio of global energy companies, announced today that it has secured an investment from the Bentley Acceleration Fund and established a strategic partnership with US-based Bentley Systems to accelerate the digitalization of the oil and gas industry.

FutureOn and Bentley Systems (Nasdaq: BSY), the infrastructure engineering software company, will combine FutureOn’s award-winning field design application (FieldAP) and its API-centric collaboration platform (FieldTwin) with Bentley’s iTwin platform to provide customers a next-generation digital twin solution capable of driving design methodologies in upstream project development for the next decade. Both FutureOn and Bentley platforms use open web standards to facilitate complex integration and customization, and the combined offerings are already being implemented in exploration and production workflows.

“This is a significant milestone for FutureOn which will greatly drive the growth of our business by extending its reach,” said FutureOn CEO Paal Roppen. “Also, while we will work closely with Bentley we will maintain our neutrality as an independent software vendor with a clear mandate to provide our customers a fully open and standards-driven digital platform. This flexibility supports our customers’ desire for remote collaborative decision making at a critical time for the oil and gas industry.”

FutureOn emerged from the highly respected 3D visualization agency Xvision with over 20 years of visual engineering experience specifically in the oil and gas subsea domain. In 2019 FutureOn’s FieldAP received the OTC Spotlight on New Technology Award for best software innovation in the oil and gas industry. Most recently, the company has launched the cloud-based data platform FieldTwin, which offers centralized API integrations to many of the leading engineering simulation and data analysis tools. When combined with FieldTwin, FieldAP enables cross-discipline remote collaboration for design and development of subsea digital twins.

“FutureOn has grown quickly and taken an industry-leading position in very short time thanks to bold moves like this,” added Roppen. “Today, digitalization is more important than ever for the oil and gas industry as challenging market conditions persist. Innovative and disruptive technologies such as those we develop alongside Bentley will fill an emerging void.”

“We are excited for this new opportunity to collaborate with FutureOn to provide advanced digital twin technology for the oil and gas industry, and especially for the addition of subsea expertise,” said Ken Adamson, Bentley vice president, design integration. “Combining our design, modeling, and analysis experience with FutureOn’s data management and visualization acumen to help build subsea digital twins will enable our users to further enhance their engineering performance, operations and profitability.”

For more information about FutureOn, its FieldTwin platform or the company’s work with Bentley Systems please visit www.futureon.com.

About Bentley Systems’ Acceleration Fund

Bentley Systems’ Acceleration Fund was founded in 2020 to invest in new and incremental participants in open ecosystems to advance infrastructure digital twins. The Bentley Systems Acceleration Fund is chartered to accelerate the creation and curation of digital twins, and to foster technologies and innovations so enabled, by nurturing new ventures, making minority investments, and acquiring and expanding digital integrators. Investments to date include Digital Water Works, Digital Construction Works, Virtuosity, and The Cohesive Companies. Chief Acceleration Officer Santanu Das welcomes queries from potential ecosystem participants at www.bentleyaccelerationfund.com.

About FutureOn

FutureOn is an agile young Norwegian software company with a passion for innovation and a head full of creative ideas. They bring along a bench of smart thinkers who have been providing appealing visual content to the oil and gas industry for many years and have now turned that creative ability into a software platform. That platform called FieldTwin is changing the way oil and gas engineers are seeing their whole world and collaborating in ways they have never even considered in the past. For more information, please visit www.futureon.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

FutureOn
Morgan Moritz
Pierpont Communications
+ 1 512 745-2575
mmoritz@piercom.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

HCL Technologies Named a Leader in 2021 Gartner® Magic Quadrant™ for Public Cloud IT Transformation Services5.8.2021 23:20:00 CEST | Press release

HCL Technologies (HCL), a leading global technology company, has been recognized by Gartner, a company that delivers actionable, objective insight to executives and their teams, as a leader in its 2021 Magic Quadrant for Public Cloud IT Transformation Services. The report evaluates companies that provide transformational IT outcomes and services, built and delivered with native Public Cloud infrastructure and platform services. HCL differentiated itself from the competition with its customized approach and breadth of offerings. With deep vertical capabilities and the ability to co-create solutions for industry clients, HCL helped its clients achieve IT transformation. HCL’s heavy investments in start-ups to help drive innovation, IP and vertical solutions with speed and agility is also a key reason 100 percent of client references recommend HCL for Public Cloud IT Transformation Services. HCL views this recognition as a validation of its strong cloud culture, solutions, experience and

PCT International Awarded Advanced Shielding Patent5.8.2021 22:43:00 CEST | Press release

PCT International has received a new coaxial cable patent from the USPTO, patent #US11,037,703. This innovative patent provides enhanced shielding tape for PCT’s Coaxial Cable Products. Enhanced shielding protects the signals in the cable from outside interference and helps prevent signal leakage. Superior shielding is required to support the expanding broadband internet demands consumers require for personal and business uses. This new patented technology applies to multiple types of cables within the home, such as broadband coaxial, security, Ethernet, and HDMI. Existing installations with obsolete, poorly shielded coaxial cable will suffer more and more as bandwidths used for broadband telecommunications networks expand to allow the 10G services being developed today. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210805006158/en/ (Graphic: Business Wire) PCT’s continued commitment to innovation via PCT Labs development a

IFF Reports Second Quarter 2021 Results5.8.2021 22:15:00 CEST | Press release

International Flavors & Fragrances Inc. (NYSE: IFF) reported financial results for the second quarter ended June 30, 2021. Management Commentary "We delivered a strong second quarter performance, with double-digit sales growth and a solid improvement in overall profitability," said IFF Chairman and CEO Andreas Fibig. “Both businesses performed well – with legacy IFF growing strong double-digits and legacy N&B improving mid-single digits – all while we continue to successfully integrate two great organizations. Our synergy realization is on track and the overall business performance underscores the strength and diversity of our portfolio as well as our position as an essential partner to our customers." IFF Executive Vice President and CFO, Rustom Jilla commented, “Profit and free cash flow were both solid in the second quarter, with broad-based improvements versus the year-ago period. We continued to optimize our cost structure, implement price increases and capture cost synergies to s

Rollic Surpasses 1 Billion Total Downloads Worldwide5.8.2021 22:08:00 CEST | Press release

Rollic, a subsidiary of Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment, announced today a studio milestone of surpassing 1 billion downloads across its diverse portfolio of hyper-casual games. As one of the largest hyper-casual publishers in the world, Rollic has created a unique development process that leverages data insights and rigorous testing to repeatedly design and publish hit hyper-casual titles. Rollic’s process generates universally fun game concepts that resonate in pop culture and quickly spread on leading social media networks like TikTok. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210805005074/en/ Rollic Surpasses 1 Billion Total Downloads Worldwide Rollic’s fast-growing portfolio includes 15 titles that have reached the #1 or #2 top free downloaded games position in the U.S. App Store. Breakout hits Hair Challenge, High Heels! and Tangle Master 3D have each generated over 100 mill

Zynga Enters Into Agreement to Acquire Mobile Game Developer StarLark, Team Behind the Hit Franchise, Golf Rival5.8.2021 22:07:00 CEST | Press release

Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment, today announced it has entered into a definitive agreement to acquire StarLark, developer of the fast-growing and second-largest mobile golf game in the world, Golf Rival, from Betta Games for $525 million in cash and stock. This acquisition brings to Zynga a talented development team with the proven ability to create a global hit and additional projects in early development. StarLark also expands Zynga’s international presence by establishing a China-based studio with access to the region’s creative talent base. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210805005098/en/ Zynga Enters Into Agreement to Acquire Mobile Game Developer StarLark, Team Behind the Hit Franchise, Golf Rival (Graphic: Business Wire) In Golf Rival, players of all skill levels compete in real-time player-versus-player matches, including multiplayer tournaments on spectacular c

Zynga Announces Second Quarter 2021 Financial Results5.8.2021 22:05:00 CEST | Press release

Zynga Inc. (Nasdaq: ZNGA) today released financial results for its first quarter ending June 30, 2021 by posting management’s Q2 2021 Quarterly Earnings Letter to its Investor Relations website. Please refer to the attached Quarterly Earnings Letter or visit http://investor.zynga.com/financial-information/quarterly-results. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210805005959/en/ ZYNGA ANNOUNCES SECOND QUARTER 2021 FINANCIAL RESULTS (Graphic: Business Wire) “We completed a strong first half of 2021, delivering Q2 results ahead of our guidance, including our best-ever Q2 revenue, bookings and operating cash flow. Our multi-year strategy of growing our live services, launching new games and investing in global expansion continues to position Zynga for growth,” said Frank Gibeau, Chief Executive Officer of Zynga. “Today, we are thrilled to officially welcome the Chartboost team to Zynga, as well as announce an agreement

UAVita Systems Together With Nova Poshta Successfully Completed the World’s First Civilian Long Range Intercity Autonomous Drone Flight5.8.2021 21:58:00 CEST | Press release

On July 29, 2021, UAVita Systems made history with a world aviation industry first – autonomous drone delivery of commercial packages between two major cities. The Nova poshta commercial flight of UAVita’s DISCOVERY D-80 drone between Kyiv and Kharkiv, two major cities in Ukraine, was 480 km between takeoff and landing and carried a load of five parcels for delivery. The flight was fully autonomous from takeoff to waypoint navigation to landing and crossed several rivers, highways, avoiding populated areas, infrastructure objects and restricted airspace. Airspace for the flight was reserved with local air traffic control, state air services, and several military authorities. The flight was operated by UAVita’s local Ukraine company, Aerodrone. "The flight went exactly as planned," said Yuri Pederiy, CTO of UAVita. "Nova poshta was very pleased with the results." DISCOVERY’s average air speed was 100 kph, with an altitude of 300 meters and total flight time was 4:45 hours a full hour ah

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom