The event for presenting and evaluating top technological projects focused on "digital twin" technology, supported by the Corporate Venture Capital (CVC) fund of Radinas, a subsidiary of the Petrochemical Industries Investment Holding (PIIC Group), took place on November 8 and 9 with the participation of 13 selected technology teams from among 94 participating teams in the call for proposals, at the Innovation and Prosperity Fund of the Presidency.
Purpose of the Event
This event aimed to identify and evaluate technological solutions in the field of digital twins and to explore the development and application capacities of this technology in the petrochemical industry. In this program, managers and experts from the CVC fund of Radinas, the petrochemical company Shimi Baft, and representatives from the Innovation Deputy of Shasta and the PIIC holding were present.
Introduction of Projects and Capabilities
During this event, 13 technology teams that had passed the screening stages and whose qualifications and projects were approved for participation in the final stage introduced their products, achievements, and technological solutions, while explaining the capabilities and application areas of their proposed projects and answering specialized questions from the judges.
Digital twin technology creates a dynamic virtual model of equipment, processes, and the production chain, enabling real-time performance monitoring, simulation of operational scenarios, prediction of equipment failures, optimization of energy consumption, and enhancement of safety levels. In the petrochemical industry, which faces extensive capital assets, complex production processes, and high safety requirements, leveraging this technology can play a significant role in increasing productivity, reducing operational and maintenance costs, improving asset management, and developing data-driven decision-making.
Holding this event can be seen as an effective step towards identifying the technological capacities of the country, evaluating innovative solutions, and providing the groundwork for investment and commercialization of digital twin technology in the petrochemical industry; an action that is pursued in line with the development of the innovation ecosystem, enhancing productivity, and achieving digital transformation in the value chain of this industry.
