KYield and Praxis Form Strategic Alliance to Convert Oil and Gas Platforms for Offshore Aquaculture and Renewable Energy Generation
RIO RANCHO, NM and HOUSTON, Texas, June 28, 2022 (SEND2PRESS NEWSWIRE) — KYield, Inc. today announced a strategic alliance with Praxis Drilling and Completion, LLC, to convert offshore oil and gas platforms in sustainable food and energy production.
Image caption: KYield logo.
“KYield has done deep dives into AI for most industries, including energy and offshore platforms in the wake of the Deepwater Horizon oil spill,” said Mark Montgomery, Founder and CEO of KYield. . “We are delighted to form a strategic alliance with Praxis to apply our KOS as an AI operating system for offshore platforms.
The KOS is a data-centric AI operating system with built-in governance, security, prevention, and automation. The modular system design is universal and can be applied at any scale, from the largest enterprise to small teams or industrial applications.
Praxis is an experienced offshore specialist based in Texas. The company is in talks to convert existing rigs to aquaculture and low-carbon power generation. The alliance agreement provides limited exclusivity for the KOS to be used for offshore rig conversions and extends a minority stake to KYield in a new entity that will own and operate the rigs.
“We anticipate heavy use of automation for the cost savings made possible with KOS and to contribute to health, safety, the environment and quality,” said Robert Young, CEO of Praxis. “There are more than 5,000 offshore platforms to dismantle. Our goal is to recycle platforms for social purposes in developing countries by producing sustainable food and energy.
The initial goal of the alliance is to convert inactive offshore platforms to other uses, including offshore fish farming and renewable energy such as green hydrogen. KYield will provide precision third-party analytics, monitoring and reporting to blue and green bondholders, and for ESG certification.
KYield is a pioneer in AI systems with 25 years of research and development. The KOS is a data-centric AI operating system with a patented, scale-ready kernel. The Synthetic Genius Machine (SGM) is a patent-pending AI system that will provide specific superintelligence as a service when released to market. More information about KYield is available at https://kyield.com.
Praxis is a trusted technical advisor to some of the fastest growing exploration and production companies in the world. Visit www.PraxisEP.com to learn more.
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News source: KYield Inc.