Operating in support of Strategia Worldwide, a leading UK strategic risk management company, Stonehaven Technology has completed an engagement with an international mining company in Latin America. The overall aim of the project was to protect client value and enable the achievement of the client’s long term vision through integrated risk management. The focus for Stonehaven Technology was assessing the state of maturity of License to Operate Digitization and Information Management procedures, then creating an all-encompassing strategic plan, around the fundamentals of people, information, tools and procedures.
In 2016, Stonehaven Technology took part in a collaborative academic research project with the School of Mechanical, Electrical and Manufacturing Engineering at Loughborough University. The success of the project was such that the Student leading the project, was subsequently taken on as a full time employee by Stonehaven Technology.
Being based at the University of Essex affords Stonehaven Technology natural opportunities for academic collaboration. In 2015, the Essex Business School building opened, a unique zero-carbon building, complete with a trading floor mock up. The core themes of the MBA are; entrepreneurship, innovation, internationalisation and sustainability and this attract students from countries all over the world. Today, Jonathan Crook, a Director of Stonehaven Technology presented a number of the company’s enterprise software applications and explained how businesses achieved benefits through their use. Jonathan also articulated the advantages for both businesses and academia in conducting collaborative research and presented a specific current opportunity the company has for a research project.
Essex Business School
Stonehaven Technology are currently undertaking a number of research and development projects and encourage Students and Universities who wish to collaborate, to get in touch.
Stonehaven Technology attended an Innovation Meeting at the Digital Catapult at King’s Cross, London and presented on our development of enterprise applications. Interesting to note the number of companies with an interest in the Health Sector and a great view!
View from Digital Catapult, London
Through the support of the Enterprise Europe Network East of England, Stonehaven Technology obtained an Innovator Stand at the Utility Week show in Barcelona. The show presented a fantastic opportunity for Stonehaven Technology to exhibit its work in Smart Meter Installation Analytics, its Flood and Extreme Weather Risk Management Enterprise Application and its Asset Management Application for Utility Companies. A range of well-established and innovative companies were present, providing many opportunities for animated conversation.
Stonehaven Technology exhibiting at Utility Week Barcelona
No matter the European country, all Utilities have a regulatory responsibility to mitigate the risk of flooding and extreme weather and to reduce the physical risk to assets to be as low as reasonably possible. The growing numbers of Smart Meters across Europe is demonstrative of the increased tempo of the transition to a smart grid, which in turn will bring more complexity and the need for digitised processes.
As part of the Energy Innovation Centre’s ‘Innovation Zone,’ Stonehaven Technology exhibited their innovative enterprise software application for asset management for utility companies.
Stonehaven Technology at the 2016 Utility Show
The application enables Utility Companies to understand the Regulatory Value at Risk for individual assets, through a sophisticated algorithm and then provides the digitised business processes for managing delivery of investment in the assets. The application also has functionality to identify enduring and dynamic risk of flooding and extreme weather, with critical information automatically disseminated across users.
Physical interference with the assets of utility companies costs millions of pounds, through stolen infrastructure, abstracted electricity, gas and water and damages to the network. In 2015, the Energy Networks Association put the headline cost of metal theft across its electricity distribution members as £3 million. In 2013, Ofgem identified the cost of abstractions to each law abiding household as being at least £7. Stonehaven Technology’s enterprise application integrates numerous internal and external sources of data and runs an algorithm on a daily basis to produce a risk score for each individual asset. With a mature understanding of physical risk of individual locations, Utility Companies can then plan, manage and deliver asset enhancements to reduce the risk.
The services provided by Utility Companies form part of key national infrastructure. The widely dispersed geographical locations of utility assets mean that there are naturally occurring risks of flooding by rivers and seas, surface water and ground water. Stonehaven Technology’s enterprise application enable the enduring risk for any individual asset to be identified and critical information for the dynamic risk to an asset to be presented to users for critical decisions to be made.