FutureMain Co., Ltd. (CEO Sun-hwi Lee) participated in the ‘Korea-U.S. STARTUP SUMMIT’ held at Pier 17, New York, United States from September 20th (Tue) to 21st (Wed, local time).
FutureMain is a global engineering&IT company with professional engineering technology and specialized facility diagnosis and evaluation technology that creates a safer and more valuable future. They are providing ‘optimal facility management & predictive maintenance solution’ by monitoring machine facilities in real time and automatically diagnoses and informs defects in facilities through convergence of cutting-edge ICT technology based on engineering big data accumulated over 36 years in the field of noise and vibration data analysis of machine facilities.
An official explained that this technology will make it possible to optimally manage the facility only with internal personnel without getting artificial intelligence and big data analysis experts in the factory. An official from FutureMain said, “In particular, we have secured data on normal and defects of bearings, gears, pumps, fans, and belts, which are key parts that make up facilities that are difficult to obtain even for global companies. We provide a one-click-diagnostic database for diagnosing 85 defects which are really common defects on facilities including unbalance, resonance and bearing defect with just a click.”
Based on such technology and amount of DB, they succeeded in attracting 4.8 billion KRW in Series A investment in 2021, and is now starting to attract Series B investment for strategic investment.
FutureMain’s equipment defect automatic diagnosis predictive maintenance solution, ExRBM (Expert Reliability Based Maintenance Solution), is used for a power plant, oil·chemical, oil·gas, heavy industry, energy, secondary battery and battery plants, where they can sustain large amount of damage when the facilities in the plant is stopped or plants without spare facilities. This solution will not only monitor facilities, but also automatically diagnoses and informs early defects. This enables optimal maintenance and management of ‘facilities’, which are an important asset of a manufacturing company.
In addition, ExRBM Lite version can be used as SaaS-type services by syncing with Cloud Server, and this service is mainly targeting manufacturing companies and factories in various industries such as logistics centers, automobile production, shipbuilding, aviation, food, cosmetics, and pharmaceutical production. ExRBM Portable+ is a very necessary product for small and medium-sized enterprises and factories to collect data from various facilities at a reasonable price and diagnose it on the spot. As such, FutureMain provides a variety of solutions, services and products for domestic and foreign manufacturing companies that desire to transform themselves into smart factories through digital innovation.
Sun-hwi Lee, founder and CEO of FutureMain, said, “After getting a bachelor’s degree and a master’s degree from Hanyang University for electrical engineering, I worked as a researcher at the Korea Institute of Machinery and Materials. My main duty was to diagnosis defects on machines for long time. The current foreign-style diagnosis method transmits facility data in real time, but the amount of data was huge enough to generate hundreds of graphs for over a week, and experts had to diagnose them one by one based on this data.”
He continued, “By observing problems in the field where the cause of the defect cannot be easily identified with the insufficient diagnostic manpower, we have developed a software solution that can automate the diagnosis of defects by installing sensors on the machine and deliver a message that informs the cause of the defect rather than a graph. We are sure that it would greatly increase productivity and allow companies to retain competitiveness through this software solution, so we have developed predictive maintenance solution, ExRBM.”
FutureMain announced that ExRBM can accurately diagnose defects in facilities in real time and informs the cause and countermeasures of the defect with 98.3% accuracy with artificial intelligence algorithms with big data based on the knowledge of engineering experts.
CEO Sun-hwi Lee said, “Based on our differentiated professional engineering technology, the precision-processed engineering big data has high reliability. In addition, through ‘ExRBM AR+’, a fusion of optimal facility management technology and AR technology, a smart facility that enables facility managers to check and maintain facility conditions in real time on site. It provides smart maintenance and safety management platform where they can perform hazardous area warnings and safety management guidelines.”
Currently, FutureMain’s solution is not only used in domestic power plants, but also Samsung, LG Energy Solution, SK, DSME, and Kimberly-Clark. In addition, after providing facility diagnosis service to Saudi Arabia’s state-owned oil company ARAMCO, positive discussions are underway to introduce a predictive maintenance solution to ARAMCO plant facilities. In addition, they have signed an MOU with Bosch Rexroth of Germany and is in the process of global joint technology development.
In South Korea, large corporations in various fields such as power plants, chemicals, pharmaceuticals, food, cosmetics, shipbuilding, telecommunications, and batteries are using FutureMain’s solutions and they are planning to focus on global expansion to strong manufacturing countries including U.S., Middle East, Europe, Vietnam, and Japan and attract Series B investment.
On the other hand, the Korea-U.S.STARTUP SUMMIT hosted by the Ministry of SMEs and Startups(Minister Young Lee) and supervised by the Korea Institute of Startup & Entrepreneurship Development(Director Yongmoon Kim) and Korea Venture Investment is providing scene of network between South Korean startups and global companies, VC and startups from New York with the nickname Silicon Alley where ecosystem and IT industry are well-developed. Through this event, they are seeking new business models of K-startups and advances into the global market, and promotes domestic investment of global capital. During the event, a corporate PR booth (joint pavilion between large corporation-startup) was set up, and U.S. VC and investment attraction IR, AC, Tech Media, and meetups and seminars were held with companies succeeded to enter the U.S. market.
KOREA – US STARTUP SUMMIT NEWS PAGE : https://url.kr/4cod53