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OneSoft / OneBridge Information Synopsis
July 2022
History and Progress - 2015 to 2020
- OneBridge Solutions, Inc. is owned by OneSoft Solutions Inc., a microcap public company that trades on the Toronto Venture (TSX-V:”OSS”) and OTC-QB (“OSSIF”) stock exchanges. Our management team previously founded the Serenic Software companies, which were grown from start-up to $12 million in revenue and divested in mid-2014. Most of the gain on sale was distributed to shareholders, for value approximating double the market cap at the time the sale transaction was negotiated. This was done as part of our strategy to reorganize to pursue and focus solely on born-in-the-cloud software opportunities.
Public disclosures of OSS have been filed on SEDAR and can be accessed here. - OneBridge Solutions Inc. was established as a wholly owned subsidiary of OneSoft in mid-2015 to develop revolutionary SaaS solutions for the oil and gas pipeline industry, to leverage a recurring revenue business model.
- In December 2015 OneBridge was selected as 1 of the 9 companies (from 721 applicants world-wide) to participate in Microsoft's first Accelerator for machine learning and data science, which Microsoft Ventures hosted in Seattle during the first half of 2016.
- OneBridge subsequently developed Cognitive Integrity ManagementTM (“CIM”), the first pipeline integrity management SaaS solution based on machine learning and Microsoft's Azure cloud platform, which now assists oil and gas pipeline operators to achieve their objective of zero pipeline failures. We continue to enjoy first mover advantage, and are unaware of no other machine learning solution that competes with CIM today, world-wide.
- Our first client, Phillips 66, commenced using CIM on a commercial basis in January 2017. In January 2018, after experiencing first-hand the advantages and benefits that machine learning and cloud computing provide that legacy on-premise solutions cannot replicate, Phillips 66 provided their intellectual property associated with their Oracle-based integrity management solution that had been under development for more than a decade, to OneBridge.
- OneBridge re-developed the Phillips IP functionality to operate on the cloud as integrated components of CIM, with assistance from Microsoft and two additional pipeline operators. The latest version of CIM, which includes the integrated cloud versions of the Phillips 66 components, was launched in late 2018. OneBridge owns all intellectual property and rights associated with CIM, which now has horizontal feature parity that encompasses end-to-end integrity management business processes typically required by most midstream operators.
- CIM essentially disrupts legacy pipeline integrity management systems and processes through use of machine learning, advanced data science, predictive analytics and digital transformation. We have achieved multiple successes with our clients in assisting them to reduce pipeline failures, save significant costs and better manage their pipelines as smart infrastructure.
- We increased our clients from 2 in 2018, to 6 Fortune 100/500 companies in 2019 (including one of the industry super-majors)and to 14 as at March 2022, who have all validated our solution and entered into multi-year SaaS license agreements (contracts range from 3 to 10 years). CIM Production Trials and/or sales efforts are currently underway in the U.S.A., Canada, Australia, LATAM and EMEA regions.
- CIM is currently contracted for approximately 150,000miles of pipelines, of which about 100,000 are piggable. We initially focused on ILI data and are now adding capability to ingest and analyze other data sets to address CIS, ACVG, DCVG, NDE, atmospheric, soils, roads, water, etc.
- Comprehensive probabilistic risk and corrosion (chemical mitigation) solutions are now in development and through our Innovation Lab we are also investigating Geohazard, IoT and full EPC opportunities. Our view is to accommodate integrity management of all O&G pipelines, including infrastructure for which ILI data has not been collected – i.e., pipelines managed under “Direct Assessment” or “DA” methodologies. While we have focused on midstream to date, we also believe that our technology can be applied to other markets, including upstream and downstream O&G, water and waste-water, and certain other steel industries.
- OneSoft conducted a $9.2 million raise in April 2019, to fund accelerated commercialization efforts and R&D to maintain and increase our competitive moat. We have sufficient cash (and no debt) to execute our intended strategies and business plan without requirement to raise additional capital
- We believe we have already aggregated the most extensive feature data applicable to pipeline integrity, and our proprietary algorithms have generated significant learnings from advanced predictive analytics based on tens of thousands of miles of O&G pipelines and more than 60 million features that contribute to pipe deterioration and eventual failure.
- CIM is currently contracted for approximately 150,000miles of pipelines, of which about 100,000 are piggable. We initially focused on ILI data and are now adding capability to ingest and analyze other data sets to address CIS, ACVG, DCVG, NDE, atmospheric, soils, roads, water, etc.
Management Overivew
Management believes that our solutions align with several disruptive technology trends that enhance future opportunity and value creation, including the following:
- Customers must keep pace with the digital world – real time, on demand and data driven. OneSoft’s “software-as-a-service” technology model drives cost-effective efficiencies for operational efficiency.
- Our AI/ML platform captures and leverages data to drive actionable analytics and replaces legacy systems and processes. Adoption of new CIM-type technology is no longer optional for customers who want to operate competitively.
- COVID-19 and “the great resignation” have changed employment patterns at a fundamental level, which drives more dependence on technologies that enhance automation and efficiencies, particularly with CIM functionality that enables less experienced workers to perform tasks that traditionally required deep expertise and more experienced workers to perform higher value work.
- Much of the increasingly specialized services expertise can be automated with CIM technology, rather than hiring additional services personnel to do the work manually, as has been done historically.
2021 Milestones
- In April 2021 Phillips 66 was granted the 2020 Distinguished Pipeline Safety Award by the American Petroleum Institute, whose objective is to accelerate environmental and safety progress by fostering new technologies and transparent reporting. P66 was recognized for the award in the large operator category after recording an outstanding year in employee safety and operational excellence. The company’s use of comprehensive risk modelling and its health, safety and environment management system resulted in recording zero pipeline system release events, zero recordable employee injuries and zero significant vehicle accidents in 2020. Additionally, Phillips 66’s commitment to cutting-edge research and development was recognized for its potential to improve pipeline safety for the entire industry. The Company’s CIM platform contributed to this achievement.
- On April 27, 2021 the Company announced a joint initiative to deploy C-FER’s risk models on the CIM platform, whose well-tested probabilistic algorithms have been cited by PHMSA as examples of best practices to support all pipeline risk management decisions. Management believes that incorporation of risk algorithms using machine learning will render the CIM platform as the most advanced integrity and quantitative risk management solutions available worldwide today. CIM allows operators to remain vendor-agnostic with respect to data that is ingested, normalized and processed, an important distinction for pipeline operators who vigorously guard confidentiality of their data and also benefit through shared learning amongst other operators.
- The Company added 7 new clients in 2021, including the first major CIM project with an Australian pipeline operator and the U.S. Midstream Energy leader.
2022 Milestones
- On January 18, 2022 the Company announced its teaming agreement with Entegra, the first ILI tool vendor to integrate CIM functionality into its services offerings for O&G pipeline operators.
- On March 23, 2022 the Company announced the addition of a U.S. cooperative who entered into a multi-year agreement to use CIM.
- On June 23, 2022 the Company announced the acquisition of Bass Engineering’s Integrity Management business operations, including RIPL risk and high consequence area management software solutions.
- On June 29, 2022 the Company released a new Internal Corrosion SaaS Solution for the general market.
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Office In
New York
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phone number
+1 111 000 111
Email
info@norma.io
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Office In
London
phone number
+1 111 000 111
Email
info@norma.io
Office In
Milano
phone number
+1 111 000 111
Email
info@norma.io
Office In
Melbourne
phone number
+1 111 000 111
Email
info@norma.io
e: info@onesoft.ca
p: 1 (800) 270 - 5024
f: 1 (866) 315 - 7135
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