Samotics Secures €20 Million EIB Financing to Accelerate AI-Driven Energy Efficiency and Reliability Solutions

Samotics Secures €20 Million EIB Financing to Accelerate AI-Driven Energy Efficiency and Reliability Solutions

(IN BRIEF) Samotics, a leading Dutch company in electrical data analytics, has secured €20 million in financing from the European Investment Bank (EIB) to accelerate its research and development on AI-driven technology designed to enhance the reliability and energy efficiency of electrical motors. The investment, supported by the European Commission’s InvestEU initiative, will help Samotics advance its machine health and energy efficiency monitoring systems. The company’s approach, using Electrical Signature Analysis (ESA), detects early signs of motor failure and identifies energy inefficiencies, significantly reducing operating costs. This funding demonstrates the growing importance of AI and energy efficiency in Europe’s green and digital transitions.

(PRESS RELEASE) LUXEMBOURG, 28-Jan-2025 — /EuropaWire/ — Samotics, a Dutch leader in electrical data analytics for condition monitoring and energy efficiency, has secured €20 million in financing from the European Investment Bank (EIB). This funding will be directed towards accelerating the company’s research and development efforts, particularly on its AI-powered technology designed to improve the reliability and energy efficiency of electrical motors. The EIB’s investment is part of the European Commission’s InvestEU initiative and aligns with Samotics’ goal to drive sustainability and efficiency across industrial sectors.

The EIB financing is expected to enhance Samotics’ solutions for monitoring machine health and energy efficiency, with a particular focus on the launch of its next-generation integrated system later this year. This investment supports the company’s mission to improve operational reliability while minimizing energy consumption across industries.

The European Investment Bank has been actively promoting digital innovation in Industry 4.0 technologies, such as AI and microchips, recognizing their critical role in Europe’s green and digital transitions. By supporting companies like Samotics, the EIB aims to contribute to decarbonization efforts and bolster Europe’s technological autonomy. The funding, backed by the “Future Tech” guarantee under the InvestEU initiative, is a clear endorsement of the vital role of energy efficiency in Europe’s public and private sustainability goals.

Robert de Groot, Vice President of the EIB, remarked, “This is a prime example of how artificial intelligence can address modern challenges. By proactively identifying potential problems and optimizing energy use, Samotics plays an important role in Europe’s decarbonization efforts. We are proud to support this innovative technology as it advances Europe’s competitive edge.”

Jasper Hoogeweegen, CEO of Samotics, expressed enthusiasm about the new funding, saying, “This investment is a significant vote of confidence in our technology. It enables us to accelerate our growth and continue revolutionizing industrial reliability and sustainability.”

Samotics’ approach uses Electrical Signature Analysis (ESA) to detect early signs of failure in electric motors. By analyzing changes in operational characteristics—such as the motor’s magnetic field, supply voltage, and current—the system predicts potential faults before they occur. This enables proactive maintenance, ensuring motors remain operational and energy-efficient, especially in critical infrastructure where unplanned downtime can be costly. The system also provides actionable insights to address energy inefficiencies, significantly reducing 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.

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SOURCE: European Investment Bank