SmartSignal Corporation Announces Major Investment from Fortune 200 Company; ECM Software Receives a $1,000,000 Endorsement from ADM.Business Editors LISLE, Ill.--(BUSINESS WIRE)--Nov. 20, 2000 SmartSignal Corporation announced a $1 million investment from Archer Daniels Midland The Archer Daniels Midland Company (NYSE: ADM), is a conglomeration based in Decatur, Illinois. ADMoperates more than 270 plants worldwide, where cereal grains and oilseeds are processed into numerous products used in food, beverage, nutraceutical, industrial and animal feed Company (NYSE NYSE See: New York Stock Exchange : ADM See add/drop multiplexer. (language) ADM - A picture query language, extension of Sequel2. ["An Image-Oriented Database System", Y. Takao et al, in Database Techniques for Pictorial Applications, A. Blaser ed, pp. 527-538]. ). The investment comes on the heels of two purchased licenses of SmartSignal Plant Equipment Condition Monitoring Condition monitoring is the process of monitoring a parameter of condition in machinery, such that a significant change is indicative of a developing failure. It is a major component of predictive maintenance. , (ECM (1) (Enterprise Change Management) See version control and configuration management. (2) (Error Correcting Mode) A Group 3 fax capability that can test for errors within a row of pixels and request retransmission. ) software in June of this year. SmartSignal's patented ECM software will allow ADM to monitor equipment and processes for upsets that cause downtime. By understanding the complex relationship between multiple sensors, SmartSignal's ECM provides a quantum leap quantum leap n. An abrupt change or step, especially in method, information, or knowledge: "War was going to take a quantum leap; it would never be the same" Garry Wills. in early detection of abnormal machine behavior and represents a profound advancement over traditional Condition Monitoring (CM) systems. ECM technology could save millions in asset productivity. "We are delighted to have this opportunity to acquire a stake in SmartSignal," said Mr. G. Allen Andreas, Chairman and Chief Executive of ADM. "We were so excited about the potential of SmartSignal's Plant ECM software at ADM, that we wanted a piece of the company." "Quality and efficiency in operations are corporate imperatives for ADM" Mr. Andreas added. "SmartSignal's advanced fault detection software will allow us to make further improvements against both objectives" "We couldn't be happier with this strategically important investment" proclaimed Mr. Gary Conkright, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of SmartSignal Corporation. "The investment verifies the unlimited potential for both SmartSignal the company, as well as SmartSignal's advanced fault detection products. The enthusiasm and credibility generated by an investment from a Fortune 200 company like ADM is unbelievable." SmartSignal is a venture-backed start-up software company based in Lisle, IL. The company received its initial VC funding on March 17, 1999. The core technology, originally developed at Argonne National Laboratory Argonne National Laboratory, research center, based in Argonne, Ill., 27 mi (43 km) SW of downtown Chicago, with other facilities at the Idaho National Engineering Laboratory, 50 mi (80 km) W of Idaho Falls, Idaho. Founded in 1946 by the U.S. , is the result of a multimillion-dollar U.S. Department of Energy (DOE) research effort. SmartSignal has twenty-five issued or licensed patents pending/owned and broad foreign coverage. In 1998, the early warning fault technology won an R&D Magazine "R&D 100 Award" for its signal analysis and fault prediction capabilities. More information about SmartSignal is available at www.smartsignal.com. A Fortune 200 company, Archer Daniels Midlands is the world's largest fully integrated food processing and distribution network. ADM serves food processors and feed manufacturers by producing a wide range of quality ingredients at a low cost. ADM's corporate emphasis on quality and efficiency in its operations has led it to become recognized as a worldwide leader in using advanced technologies to improve operations. |
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