Flowserve Launches RedRaven IoT Services Platform Giving Companies Remote Control Over Critical Aspects of Operations

Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today the launch of a revolutionary IoT service suite to help production facilities monitor their assets remotely, predict equipment failures before they happen and take preventive measures to avoid business disruptions. Called RedRaven, the new platform supports any flow control equipment regardless of manufacturer, opening the door for companies to quickly realize the full benefits of IoT and predictive analytics without major infrastructure changes.

IIoT-based predictive maintenance solutions are expected to reduce factory equipment maintenance costs by 40%, according to Deloitte. Predictive maintenance can also reduce safety, health, environment and quality risks by 14% and extend the life of an aging asset by 20%, according to PwC.

“We’re betting big on IoT to help companies avoid costly downtime, which is not feasible in today’s world,” said Scott Rowe, Flowserve president and chief executive officer. “The COVID-19 pandemic illustrated the critical importance of digitization in production facilities for business continuity, and RedRaven can help companies accelerate their digital transformation to start reaping the numerous productivity and profitability benefits of IoT.”

RedRaven is a services platform that takes a systems approach. Available with wireless or wired options based on applications, it includes sensors that are placed on industrial equipment and gateways that collect data from assets and then transmit it to the cloud with a secure, data-encrypted solution. Companies can access critical data on their equipment performance via Flowserve’s secure Insight Portal dashboard. A big differentiator in the marketplace is Flowserve’s dedicated remote monitoring facility, which is staffed by a team of technical specialists who don’t just identify problems, but also tell companies how to fix the issues and support them throughout their entire IoT journey. RedRaven works for any company with flow control equipment such as those in the oil and gas, water, chemical, power, food and beverage and mining industries, among many others.