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Advanced Blockchain AG
Regulatory Filings • Oct 2, 2020
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Corporate | 2 October 2020 08:55
Advanced Blockchain AG invests in Tracebloc GmbH, a company using machine learning
DGAP-News: Advanced Blockchain AG / Key word(s): Investment/Cryptocurrency / Blockchain
02.10.2020 / 08:55
The issuer is solely responsible for the content of this announcement.
Advanced Blockchain AG invests in Tracebloc GmbH, a company using machine learning to reduce scrap in the manufacturing industry
Advanced Blockchain (Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is excited to announce that it is backing Tracebloc GmbH, a German-based company in the smart manufacturing space using Blockchain to enable industrial data with ‘compute-to-data’ and Machine Learning to reduce scrap on the shop floor ( www.tracebloc.io ). ‘It is difficult to keep the scrap rate at a low level at all times, but it is even more difficult to understand why the scrap rate shows outliers. Tracebloc has not only helped us to reduce scrap, but also to generate additional revenue by allowing our business partners to train their models on our data’ reports one of Tracebloc’s clients who does not want to be named.
Tracebloc GmbH was founded by Lukas Wuttke, CEO, in 2019, who is an entrepreneur with a background in tech-consulting and research. He is joined by Farhan Nawaz, Lead Engineer, who is an experienced software engineer that has won various hackathons and other awards.
Tracebloc is helping their customers by taking them on a data enablement journey, which ultimately saves production costs and generates additional revenue. The first phase of the journey consists of a six weeks long data assessment where the production line data is collected and analyzed. Goal is to provide hands-on instruction to optimize the production line and estimate the potential of data-driven production line optimization. Manufacturing execution systems (MES) comprise the second phase, where machine learning-enabled solutions act to reduce scrap. Clients will be able to monetize their own data in this phase. Finally, the third phase involves the implementation of manufacturing agents at specific process steps to autonomously set control parameters. The result is the data-driven steering of production lines.
Tracebloc has a solid and proven business model, and achieved profitability in its first year. Overall, Tracebloc is posed to be a sound investment for ABAG, and through its acceleration process, ABAG believes Tracebloc will achieve continued success and growth. Further information on Advanced Blockchain AG and its investments is available on its website, www.advancedblockchain.com .
02.10.2020 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | Advanced Blockchain AG |
| Chausseestraße 86 | |
| 10115 Berlin | |
| Germany | |
| Phone: | 030403669510 |
| Fax: | 030403669511 |
| E-mail: | [email protected] |
| Internet: | www.advancedblockchain.com |
| ISIN: | DE000A0M93V6 |
| WKN: | A0M93V |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt, Munich, Stuttgart |
| EQS News ID: | 1138456 |
| End of News | DGAP News Service |