KYield and Praxis form Strategic Alliance to Convert Oil & Gas Platforms for Offshore Aquaculture and Renewable Energy Production
RIO RANCHO, N.M. and HOUSTON, Texas, June 28, 2022 (SEND2PRESS NEWSWIRE) — KYield, Inc. announced today a strategic alliance with Praxis Drilling and Completion, LLC, for the purpose of converting offshore oil and gas platforms to sustainable food and energy production.
Image Caption: KYield logo.
“KYield has performed deep dives in AI for most industries, including energy and offshore platforms following the Deepwater Horizon oil spill,” said Mark Montgomery, founder and CEO of KYield. “We’re pleased to form a strategic alliance with Praxis to apply our KOS as the AI OS for offshore platforms.”
The KOS is a data-centric AI OS with embedded governance, security, prevention, and automation. The modular system design is universal and can be applied at any scale, from the largest enterprise to small teams or industrial applications.
Praxis is an experienced offshore specialist based in Texas. The company is in discussions to convert existing platforms to aquaculture and low-carbon energy production. The alliance agreement provides limited exclusivity for the KOS to be used for offshore platform conversions, and extends a minority equity position to KYield in a new entity that will own and operate the platforms.
“We anticipate extensive use of automation for cost savings made possible with the KOS, and to aid in health, safety, environment, and quality,” said Robert Young, CEO of Praxis. “There are over 5,000 offshore platforms to be decommissioned. Our aim is to recycle platforms for social benefit in developing nations by producing sustainable food and energy.”
The initial focus for the alliance is to convert idle offshore platforms to other uses, including for off-shore fish farming and renewable energy such as green hydrogen. KYield will provide precision third-party analytics, monitoring, and reporting to blue and green bondholders, and for ESG certification.
KYield is a pioneer in AI systems with 25 years of research and development. The KOS is a data-centric AI OS with a patented core that is ready to scale. The Synthetic Genius Machine (SGM) is a patent-pending AI system that will provide specific superintelligence as a service when commercialized. More information about KYield is available at https://kyield.com.
Praxis is a trusted technical advisor to some of the world’s most dynamic exploration and production companies. Visit www.PraxisEP.com to learn more.
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News Source: KYield Inc.