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July 11, 2012
Satoil Technology Invest Partners with Numascale
July 11 -- After successful testing of Numascale’s innovative technology for large-scale real shared memory systems under Statoil’s LOOP program, Numascale announces that Statoil Technology Invest is a new partner in Numascale. ProVenture and Investinor co-invests with Statoil and all Numascale shareholders have been invited to participate. The investment is divided in two tranches and the total amount of the first tranche of the share issue in Numascale is closing today at about NOK 21 000 000.
Statoil has applications with extremely large memory requirements with a corresponding interest in the capability to directly address and access very large amounts of data. With the NumaConnect™ technology applications can have effective and cached access of up to 256 TeraBytes of main memory data, the world’s largest addressing capability. Numascale’s product has been tested with some of Statoil’s codes in the LOOP program and has proven to be promising in regards to providing Statoil with very cost effective and energy saving processing capacity.
Advanced and high capacity seismic data processing is a key factor in oil exploration and the continued development in this field will be important. Some of the last large discoveries can be linked directly to the data processing methods and this is a trend that is likely to continue.
"The collaboration with Statoil has already given very valuable feedback on our product. A stronger relation to an advanced player like Statoil in an important application field for our technology is extremely positive for our technical and commercial development." Said Kåre Løchsen, Numascale CEO.
“The new equity will strengthen our financial position significantly and enable Numascale to execute on its ambitious plan to become an important player in the huge and fast-growing market that supercomputing represents.” Said Hans Olav Torsen, Chairman of the Numascale Board and Partner in ProVenture Management.
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Source: Numascale
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