Digital Water Works, Inc. Receives Strategic Investment from Bentley Systems
Bentley Systems’ investment allows Digital Water Works and Bentley to expand their leadership in bringing superior infrastructure digital twin solutions to municipal and investor-owned water and wastewater utilities worldwide.
Denver, Colorado USA, March 1, 2019 – Digital Water Works, a leading global innovator of digital twin solutions for smart wet infrastructure, today announced a strategic investment in the firm by Bentley Systems. The investment allows Digital Water Works and Bentley to expand their leadership in bringing superior infrastructure digital twin solutions to municipal and investor-owned water and wastewater utilities worldwide — solutions with the power to enhance their operational visibility, improve efficiency, optimize capital spending, and lower total cost of ownership of their wet infrastructure.
Digital Water Works’ strategy is to implement its own integrating applications around best-of-breed commercial off-the-shelf (COTS) software such as Bentley Systems’ OpenFlows and iTwin offerings, which Bentley will license directly to Digital Water Works’ customers. The software partnership is not exclusive; Digital Water Works will continue to collaborate with leading software vendors and engineering and technology consulting firms to best serve the water industry. By virtue of the investment, Bentley will be entitled to appoint two directors to the Digital Water Works board.
With deep industry knowledge, world-class capabilities, and cutting-edge technology, Digital Water Works is uniquely positioned to help water and wastewater utilities deploy a scalable, flexible, and holistic digital twin geospatial infrastructure platform based on industry standards and COTS software. This revolutionary geospatial platform enables utilities to operate and sustain more resilient wet infrastructure while maintaining compliance, meeting appropriate levels of service at the lowest total life cycle cost, and increasing customer satisfaction.
Combining real-time intelligence with spatial analytics, digital twins enable pervasive simulation of water distribution and sewer collection systems with immersive visualization and analytics visibility of decision support results for operational performance monitoring and efficiency optimization, powered by artificial intelligence. Digital twins also enable work and asset management (both discrete and linear assets), reliability-centered maintenance with bad actor and root cause analysis, and risk-based strategic lifecycle asset management to optimize life cycle costs, extend infrastructure useful life, and prioritize, manage and deliver capital improvement projects.
“We’re pleased and honored to receive this strategic investment from Bentley,” said Digital Water Works founder and CEO Paul F. Boulos, Ph.D., BCEEM, Hon.D.WRE, Dist.D.NE, Dist.M.ASCE, NAE. “Their global footprint and product leadership in infrastructure digital twins for the power, oil and gas, transportation, and mining sectors are extensive, and our collaboration for the broadened application of their experience and solutions portfolio will greatly benefit the water industry and deliver tremendous value to our customers.”
Boulos said that the infrastructure digital twin product suite would be rolled out in phases during the next five to ten months, and that “Next month, we will launch an early adopter program for progressive water and wastewater utilities and engineering firms who want to help with the product design plans and then beta-test the software.”
Bentley Systems CEO Greg Bentley said, “Bentley Systems’ investment in Digital Water Works signifies our recognition that a specialist ‘digital integrator’ entity will play an indispensable role in helping infrastructure owners to take full advantage of digital twins’ potential. We believe that our industry-leading OpenFlows modeling software and iTwin Services offerings can advantageously anchor water and wastewater utilities’ advancements in going digital. But we believe even more strongly that an open approach, supported by an independent integrator leveraging our unprecedented open-source solution environment, can achieve the greatest benefits for each utility, while accelerating the learning curve for all.
“And given his track record towards digital advancement for the world’s wet infrastructure utilities already, there could be no one more effective than Dr. Paul Boulos in leading their engineers and engineering firms, through Digital Water Works, to realize the unlimited opportunities now opened up by digital twins.”
About Bentley Systems
Bentley Systems is the leading global provider of software solutions to engineers, architects, geospatial professionals, constructors, and owner-operators for the design, construction, and operations of infrastructure. Bentley’s MicroStation-based engineering and BIM applications, and its digital twin cloud services, advance the project delivery (ProjectWise) and the asset performance (AssetWise) of transportation and other public works, utilities, industrial and resources plants, and commercial and institutional facilities.
Bentley Systems employs more than 3,500 colleagues, generates annual revenues of over $700 million in 170 countries, and has invested more than $1 billion in research, development, and acquisitions since 2012. From inception in 1984, the company has remained majority-owned by its five founding Bentley brothers. Bentley shares transact by invitation on the NASDAQ Private Market; strategic partner Siemens AG has accumulated a non-voting minority stake. www.bentley.com
About Digital Water Works
Digital Water Works is a new breed of engineering technology solutions provider dedicated to innovating exclusively for the global water and wastewater industry. The company strategically combines the power of cloud computing, AI, IoT sensors, pervasive engineering simulation, GIS, enterprise asset management and advanced analytics to seamlessly build and implement comprehensive, reliable digital twin solutions for smarter, more sustainable and resilient wet infrastructure. The result is right-time, actionable insights that empower water and wastewater utilities to optimize and transform their businesses and to keep their infrastructure operating well into the future at the lowest life cycle cost. Founded in 2018 by Paul F. Boulos, the Denver-based company is supported by a Board of Directors and an Advisory Board of leading technology, management and engineering experts serving the water industry. For more information, visit www.digital-ww.com or connect with Digital Water Works on Twitter and LinkedIn.