Control Station today announced record growth for the fiscal year ending December 31, 2022. A dramatic increase in licensing of the company’s PlantESP™ platform propelled the company to record full-year total income and profit. The strong financial performance reinforces Control Station’s position as the emergent leader in process analytics and optimization solutions.
The company’s total income increased year-over-year by 65.4% led by a 207.6% increase in revenues from licensing of PlantESP. While revenue from PlantESP-related services grew by a more modest 22.0%, unearned revenue associated with platform-related services swelled by over 400%. The increases in PlantESP licensing and related services were linked to multiple enterprise agreements with market-leading process manufacturers. PlantESP has been successfully deployed at production facilities operated by Top 10 Manufacturers within each of the Basic Materials, Chemicals, Food & Beverage, Pharmaceutical, and Pulp & Paper industries.
“We see growing evidence that the market for PID-related process analytics is on the rise,” remarked Rick Bontatibus, Control Station’s Vice President of Global Sales. “With the industry’s continued commitment to digital transformation, more and more manufacturers recognize the value of PlantESP and its ability to quickly convert their available process data into actionable intelligence.”
PlantESP has rapidly become the preferred solution for plant- and enterprise-wide control loop performance monitoring applications. Powered by a library of key performance indicators and equipped with advanced forensic tools, PlantESP proactively identifies issues that jeopardize production efficiency and throughput. As a platform-agnostic solution, PlantESP is uniquely positioned to support control environments that include content from multiple OEMs. Such environments are typical among large, multi-site manufacturers. PlantESP’s intuitive design and advanced analytical capabilities facilitate increases in throughput and quality and decreases in energy consumption and production-related waste.
“Addressing the market’s need for advanced analytics through product innovation remains a priority for us, and our recent introductions of state-based analytics and a REST API serve as cases in point,” shared Dennis Nash, the company’s President. “With these innovations PlantESP now empowers users to refine their analysis and capitalize on state-specific opportunities for improvement while allowing that same intelligence to be easily consumed by other centralized applications. Meaningful innovations like these drive growth.”
In addition to growth related to the company’s PlantESP platform, Control Station also saw a 38.2% year-over-year increase in revenue from licensing of its LOOP-PRO™ Product Suite. LOOP-PRO remains the only process modeling and PID controller tuning product proven to accurately model non-steady state data that is typical of industrial process control. The LOOP-PRO suite includes offerings that are private-labeled or referenced by leading OEMs, including Rockwell Automation and Yokogawa.
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