The Elements of Innovation Discovered
The Elements of Innovation Discovered
Seequent parent to pay C$1M for geological modeling software Metal Tech News - December 7, 2022
Minerva Intelligence has developed AI-driven software for geological modeling and climate change risk evaluation.
Seequent, the geodata company that offers powerful earth modeling solutions such as the Leapfrog Geo 3D modeling software for mining and mineral exploration, has added an artificial intelligence-driven geological modeling tool to its portfolio.
Seequent's parent company, Bentley Systems Inc., acquired the geological division of Minerva Intelligence Inc., an AI software company that has developed tools for climate risk evaluation and geological modeling, for C$1 million (US$740,000).
Minerva's geological division is anchored by DRIVER, a proprietary AI-driven tool developed to allow mining and mineral exploration companies to better understand and evaluate drill data to pinpoint superior targets for further evaluation.
"DRIVER and our entire geology division has built a world class tool over the past three years, and I am so proud of the team and what they have accomplished," said Minerva Intelligence CEO Scott Tillman.
The company, however, has opted to sell off DRIVER in order to focus its work on climate85, an AI-driven tool that provides climate and socioeconomic data to deliver forward-looking physical risk ratings linked to climate change up to the year 2100.
Business owners and investors can use climate85 to protect their assets from extreme weather, wildfires, floods, and other climate events.
"Interest in our climate85 platform is growing and we intend to focus on the development of the platform as a valuable tool to address the adverse impacts of climate change globally," said Tillman. "Our goal is to arm businesses and communities with the tools they need to be prepared and resilient in face of the growing threats to the planet due to climate change."
To follow this path, Minerva will use the cash it receives from the sale of its geological division to advance the development and marketing of its climate85 multi-hazard interface for Canada.
It is expected that Seequent will incorporate DRIVER and related software solutions included in Minerva's geological division into its own suite of geoscience software for the mining sector.
"Bentley and the Seequent team are the perfect home to take DRIVER to the next level," Tillman added.
With more than 16 years of covering mining, Shane is renowned for his insights and and in-depth analysis of mining, mineral exploration and technology metals.
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