Entering the last weeks before Christmas break, we are closing in to the end of 2020, which has been a challenging and exciting year for Kairos Technology. Among all, the outbreak of Covid-19 has affected all of us, yet we have managed to minimize the impact and adopted new working methods and tools to secure the commitment and engagement with our customers and the market. Our product development is on track according to plans and new exciting projects are initiated.
During this past year, we have strengthened our organization within sales and product development and established cooperation agreements in Asia, with strong local players.
As for our planned major releases of the Control Room Assistant (CRA), the Q2 product release (Birch) was successfully launched in May with introduction of the features (Equipment not in operation, dynamic limits, and observation categorization), and the Q4 release (Lerk) is a few days away.
Our pilot installations, since early 2019, Judy and Dan are the early adopters for our product releases and we're thrilled to be able to test functionality and receive feedback from plants in operation. The onboarding team also have their hands full with the greenfield projects YME and Johan Castberg, where models representing the digitalized process expertise are mainly completed. Both are now entering testing at the Operator Training Simulator (OTS), before commissioning and startup phases.
Backed by funding from Innovation Norway and share issue, we have started the Kairos HAZOP Assistant development project. We have huge expectations that our new product will be a fresh invention to the engineering safety verification process, supporting all players involved in securing industrial plant designs. We are excited to start a JIP project together with a major E&P company and Vysus Group (Ex. Lloyds Register), for providing the HAZOP assistant. The collaboration with Vysus Group will ensure the quality and usability of our new product and ensure global market access.
Next year we will bring our unique technology from O&G and applying it to the renewable sector. The objectives are to support the design and engineering of P2X for reduced verification cost and time. Safe and stable plants are key factors, along with cross-sector collaboration covering the entire value chain.
We want to express our highest gratitude for the market response to our technology approach and we are very pleased with the commitment and engagement all our customer and business partners show within all areas of collaboration. We have high hopes and expectations for 2021 where we see huge potential for expanding the business value to our current and new customers. Our drive is to be able to capture and share even more of the energy market expertise for common benefits to secure the safety, increase performance, and reduce the emissions, while offloading stress and worries from the operations.
We are looking forward to great achievements together with our collaboration partners, and expect great values brought to our clients in the years to come.
Seasons greetings from all of us and best wishes for 2021!
