Novity Enters Into a Strategic Partnership with Chiyoda Corporation to Deploy an Integrated Solution in Japan, the Middle East and North America by Combining Novity's TruPrognostics™ AI with Chiyoda's plantOS™ Solution

SAN FRANCISCO, May 20, 2026 /PRNewswire/ -- Novity announced today that it has entered into a Memorandum of Understanding with Chiyoda Corporation (Chiyoda) to jointly deploy an integrated solution combining Novity's truly predictive maintenance AI platform 'TruPrognostics™ AI' with Chiyoda's Operations & Maintenance (O&M) total solution platform 'plantOS™^*'.

Novity and Chiyoda will jointly promote the integrated solution in Japan, the Middle East, and North America, aiming to deliver data–driven maintenance optimization, operational stability and enhanced equipment reliability.

Partnership Addresses Uncertainties Facing the Industrial Sector
Industrial sectors are facing increased challenges such as labor shortages, the transfer of expert skills and the growing requirement for advanced asset management. By combining Novity's accurate hybrid AI-based technology TruPrognostics™ AI with Chiyoda's plantOS™, we can deliver a new, groundbreaking O&M solution, that will provide users with remaining useful life predictions, precise machine diagnostics and actionable maintenance and operational recommendations, altogether enabling O&M excellence and operational predictability at scale.

This partnership will deliver an advanced O&M solution integrating prognostics, diagnostics, anomaly detection, O&M recommendations and operational optimization. The objectives of the partnership are to:

• Create joint Go-to-Market initiatives tailored to the needs of markets in Japan, the Middle East and North America.
• Enhance the safety and reliability of AI and data utilization (strengthening data governance).
• Contribute to improved equipment operational efficiency, reduced downtime, optimized maintenance costs and greater operational safety for customers.

For operators managing aging infrastructure and shrinking maintenance teams, this new integrated solution means fewer emergency callouts, maintenance windows scheduled around actual equipment condition rather than fixed intervals, and institutional knowledge that doesn't walk out the door when an experienced engineer retires.

Chiyoda and Novity plan to jointly establish a complete roadmap, from Proof of Concept (PoC) through to commercial deployment, focusing primarily on LNG facilities, refineries, chemical plants, power plants and infrastructure facilities.

What Sets TruPrognostics Apart
Conventional predictive maintenance tools alert operators to anomalies but cannot answer when failure will occur. The integrated plantOS + TruPrognostics AI solution closes this gap and provides: 

• Hybrid Physics-AI Models — High Accuracy Without Large Historical Datasets: Unlike data-driven tools that require extensive run-to-failure training data, TruPrognostics AI combines physics-based models with machine learning to achieve 90%+ accuracy even with limited historical data.
• End-to-End O&M Integration via plantOS: TruPrognostics AI is embedded directly into plantOS™, connecting Remaining Useful Life (RUL) predictions to maintenance planning and operations in a single integrated workflow.

"Chiyoda brings decades of deep engineering expertise and an established presence in exactly the facilities where Novity's TruPrognostics AI can have the most impact — LNG terminals, refineries, chemical plants," said Markus Larsson, Co-Founder and CEO of Novity. "Together we're giving operators something the industry hasn't had before: not just an alert that something is wrong, but a diagnosis, a timeline, and a clear next action. That's what it actually takes to move from reactive maintenance to truly predictive operations."

"Most predictive maintenance tools on the market stop at anomaly detection and alerts — they cannot answer the fundamental question of what will fail and when," said Mr. Toru Yoneyama Technical Authority, Industrial DX, at Chiyoda. "The integrated solution combining plantOS and Novity TruPrognostics AI represents a fundamentally new approach not yet seen in the market: delivering high-accuracy RUL predictions powered by physics-AI hybrid models, deployable on existing plant infrastructure. Leveraging Chiyoda's engineering expertise and digital platform, we are transforming our customers' O&M into truly predictive operations.

About Novity

Novity provides truly predictive intelligence purpose-built for industrial reliability teams in the energy and process industries. The company's TruPrognostics AI platform combines physics-based models, machine learning, and contextual AI to diagnose faults, forecast remaining useful life, and recommend specific maintenance actions for rotating machinery and other industrial assets. Every model is transparent about what it can detect, what data it needs, and where its limits are. Novity works with data customers already collect, with diagnostic true positive rates routinely above 90% and proven deployments across upstream and midstream oil and gas, LNG terminals, and wastewater operations.

About Chiyoda
Chiyoda Corporation (Chiyoda), headquartered in Yokohama, Japan, is a global engineering and construction company established in 1948. Chiyoda provides integrated services across the project lifecycle, including engineering, procurement, and construction (EPC), serving industries such as energy, chemicals, and infrastructure. 

Building on its extensive EPC experience and global expertise, Chiyoda delivers solutions for plant operation and maintenance with plantOS™ platform, ensuring efficient and reliable performance to clients worldwide.

SOURCE Novity