KCF Technologies reaches $1 Billion in Customer Savings in CY2022

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Jan 18, 2023, 06:50 ET

STATE COLLEGE, Pa., Jan. 18, 2023 /PRNewswire/ -- KCF Technologies, a leading provider of machine health optimization technology and services, announced today a major milestone – $1,001,781,030 in tracked customer savings collectively across all industries they served in 2022, bringing all time savings to over $3.5B.

KCF Technologies customers have collectively saved over $3 Billion dollars as of 2023.

"That's a real number, we have been measuring it the same way for a number of years. For the last three years, we have been trying to get over that $1B dollar per year threshold. Milestones like this would not be possible to accomplish without everyone's contribution, both at customer locations and the technical experts at KCF," said Dr. Jeremy Frank, CEO of KCF Technologies.

The past year faced similar challenges to prior years with skilled labor retiring, labor shortages, and strong economic demand for output in industry, amongst other challenges pushing manufacturers to find efficiencies in their operations, maximize uptime, and reduce operating costs. Predictive maintenance solutions are forecasted to grow 17% year-on-year to combat some of those challenges.

In 2022, the demand for KCF's full machine health platform surpassed industry forecasted growth with 22% growth in site locations, 47% growth in new companies, and 118% growth in international expansion. Whether measuring the impact of complex optimization projects or simple downtime avoidance, this rapid growth and technology adoption continues to scale the impact KCF technologies makes for the domestic community and communities around the globe.

"We are making a big difference in the world; from companies everyone has heard of to those no one's ever heard of. We are working with all the most critical providers of what makes the world go around and we are saving them a tremendous amount of money, reducing injuries, and minimizing waste. We are so proud to be working with these organizations and having such an impact on them," said Dr. Frank.

In December, with only a few days remaining in the year, KCF's partner Covanta became a main contributor to achieving the $1B dollar milestone with a $450k+ event being detected and mediated on a critical application within their Niagara Falls location before it could cause unexpected downtime.

"With the reorganization of the company and the focus on reliability and availability within our facilities, KCF Technologies was able to detect and mediate over 40 instances that otherwise had a high probability of causing expensive downtime. With the use of their system, we now have the ability to plan out and properly schedule downtime to save us on lost revenue.

Whether evaluating downtime hours avoided or dollars saved, our team and KCF's joint efforts have made a strong impact in 2022. In 2023, as we expand KCF's technology to 15 new Covanta locations, we look forward to growing our downtime avoidance," said Eric Way, Maintenance Mechanic at Covanta.

Since formally documenting customer ROI in 2018, in partnership with customers, KCF has helped customers avoid 68,932 hours of downtime, collected over a quarter million years' worth of machine health data, increased overall equipment life expectancy, and produced $3,534,858,399 in documented customer savings.

About KCF Technologies:

KCF Technologies exists to drive sustainability, safety, and competitiveness for our partners and their communities by solving the world's machine health problems. Our team empowers industry to eradicate downtime, waste, and injuries with KCF's Comprehensive Machine Health Platform. We combine condition monitoring data with shop floor insights and maintenance practices to paint a complete picture of the factory environment. Failure is engineered out of the processes using KCF's proprietary machine health optimization solution — made up of hardware, software, and services. Our impact on industry has prevented over $3.5B in unplanned downtime since 2018.

For more information on KCF Technologies, visit www.kcftech.com.

SOURCE KCF Technologies, Inc.