Netherlands-based electrical data analytics company Samotics has signed a €20 million financing
agreement with the European Investment Bank (EIB) to accelerate its research and development activities. The
EIB’s investment will enhance the company’s solutions regarding the monitoring of machine health and
energy efficiency, while accelerating work on its next-generation integrated solution, planned for launch
this year. The funding aligns with Samotics’ mission to make industries more reliable, efficient, and
sustainable.
The EIB Group wants to accelerate digitalisation and innovation in Industry 4.0 related technology, such
as artificial intelligence and microchips, as this kind of innovation is key to Europe’s green and digital
transitions, and crucial in ensuring its technological and strategic autonomy. Reliability and energy
efficiency are instrumental for Europe’s public and private efforts for decarbonisation and sustainability
across different sectors. The EIB’s financing benefits from the backing of the “Future Tech” guarantee
within the InvestEU initiative of the European Commission.
“This is one those applications where the use of artificial intelligence can really make a difference.“ stated
EIB Vice President Robert de Groot. “It highlights that modern challenges require modern solutions, and
this intelligent way to pre-empting problems and optimising energy efficiency is an important element in
our decarbonisation journey. As part of our commitment to supporting technology and innovations critical
for Europe’s competitiveness, we are proud to back Samotics.”
“This funding from the EIB highlights the trust placed in our technology and its potential to revolutionise
industrial reliability and sustainability. It’s a defining moment for Samotics as we further accelerate our
growth and innovation journey,” said Jasper Hoogeweegen, CEO of Samotics.
The electrical signature analysis (ESA) that Samotics technology applies, relies on the principle that
subtle changes in the operational characteristics of an electrical motor, often occurring before a failure,
impact the machine’s magnetic field. This affects the supply voltage and operating current, and by using
various analytical techniques, ESA provides a comprehensive overview of the entire powertrain, from
motor to transmission to load, to accurately predict faults.
Samotics’ system specifically focuses on AI driven monitoring and analysis to predict malfunctioning,
detect energy inefficiencies and provide actionable recommendations. The system can be installed
directly in the electric cabinet, avoiding the need to access the often-inaccessible motors. The predictive
analytics for malfunction detection are vital, as these motors typically support critical infrastructure
where unplanned downtime is unacceptable, and the costs of complete failure are high. Additionally,
identifying and correcting energy inefficiencies can significantly reduce operating costs.
Background Information:
The European Investment Bank (EIB) is the long-term lending institution of the European Union,
owned by its Member States. The Netherlands owns a 5,2% share of the EIB. It makes long-term finance
available for sound investment in order to contribute towards EU policy goals and national priorities.
More than 90% of its activity is in Europe. Over the last ten years, the EIB has made available more than
€27 billion in financing for Dutch projects in various sectors, including research & development,
sustainable mobility, drinking water, healthcare and SMEs. The EIB will announce its 2024 annual figures
on January 30th 2025.
The InvestEU programme provides the European Union with crucial long-term funding by leveraging
substantial private and public funds in support of a sustainable recovery. It also helps mobilise private
investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU
brings together under one roof the multitude of EU financial instruments previously available to support
investment in the European Union, making funding for investment projects in Europe simpler, more
efficient and more flexible. The programme consists of three components: the InvestEU Fund, the
InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is deployed through implementing
partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget
guarantee will back the investment projects of the implementing partners, increase their risk-bearing
capacity and thus mobilise at least €372 billion in additional investment.
Samotics is a leading company in electrical data analytics for condition and energy efficiency
monitoring. It has developed a predictive maintenance and energy efficiency optimisation solution for
industrial companies based on Electrical Signature Analysis. The company’s system specifically focuses
on monitoring and analysing electric motors to detect energy inefficiencies and predict malfunctioning
through Artificial Intelligence driven recommendations.
