09/27/2023 | Press release | Distributed by Public on 09/27/2023 08:09
ST. LOUIS (Sept. 27, 2023) - Emerson (NYSE: EMR) today announced it has made a strategic investment through Emerson Ventures, its corporate venture capital arm, in First Resonance, a Los Angeles-based start-up transforming manufacturing with its ION Factory Operating System (OS).
Through Emerson Ventures' value-add strategic investment approach, Emerson's investment will support further growth and development of First Resonance's ION Factory OS, which enables companies across industries to conduct day-to-day operations and connect workflows to power modern operations, from production to supply chain procurement and quality.
"As Emerson continues to accelerate its growth as a leading global automation company, we are constantly searching for innovative companies supporting the development of world-changing software and technologies," said Thurston Cromwell, vice president of development and innovation, and head of Emerson Ventures. "This strategic investment brings together Emerson's deep expertise in automation and First Resonance's operating system that helps companies modernize their technology, automate their processes and build transformational products of the future."
With its discrete manufacturing platform that equips manufacturers with a digital thread, ION helps remove barriers by providing tools to improve collaboration, move information more freely, and use the power of data to deliver insights that result in better quality and faster delivery.
"First Resonance's mission aligns well with Emerson's focus on innovation and its ongoing commitment to support manufacturers building revolutionary products," said Karan Talati, co-founder and chief executive officer of First Resonance. "From climate and energy to new forms of transportation, space exploration and robotics, we are empowering companies to address the most pressing global challenges across both traditional and emerging industries. Through our people, the ION Factory OS, and now with the support of Emerson, we will continue to empower thousands of engineers, operators and manufacturers to connect and supercharge the future."
Emerson (NYSE: EMR) is a global technology and software company providing innovative solutions for the world's essential industries. Through its leading automation portfolio, including its majority stake in AspenTech, Emerson helps hybrid, process and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve their sustainability goals. For more information, visit Emerson.com.
About First Resonance
Used by next generation manufacturers building world-defining hardware like spacecraft, power plants, and robots, First Resonance provides software to visionary companies where flexibility and quality traceability are critical for success. The ION Factory OS by First Resonance makes it possible for engineers to rapidly move from complex prototypes to seamless production, accelerating the development cycle. With ION Analytics, decision-makers get real-time visibility into bottlenecks in the manufacturing process, empowering them to iterate quickly and at scale, resulting in faster time to market. For more information on First Resonance please visit: https://www.firstresonance.io.
Forward-Looking and Cautionary Statements
Statements in this press release that are not strictly historical may be "forward-looking" statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include the Company's ability to successfully complete on the terms and conditions contemplated, and the financial impact of, the proposed National Instruments transaction, the scope, duration and ultimate impacts of the COVID-19 pandemic and the Russia-Ukraine conflict, as well as economic and currency conditions, market demand, including related to the pandemic and oil and gas price declines and volatility, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, inflation, among others, as set forth in the Company's most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.