Verdande Technology AS
Verdande develops knowledge based decision tool to provide heads-up warning systems that predict and prevent unwanted events in oil well drilling operations.
Verdande Technology was founded in 2004. The company develops products and services for the automated capture and re-use of business-essential knowledge.
The technology integrates knowledge modelling and data interpretation with the principle of 'case-based reasoning', a process of solving new problems based on the solutions of similar past problems.
The application DrillEdge is developed for oil and gas real-time drilling operations. It is designed to reduce risk, increase rate of penetration and reduce non-productive time while drilling. Operators are able to re-use knowledge in order to diagnose and avoid costly drilling problems before they escalate.
ECM invested in the company in 2006.
Co-investors include Proventure Seed AS
