Asia Industrial AI Press Release

Preferred Networks and Mitsui Establish Joint Venture for Deep Learning-Based Subsurface Structure Analysis

Preferred Networks announced that PFN and Mitsui established a new joint venture Mit-PFN Energy to develop and commercialize a deep learning-based AI solution for subsurface structure analysis.

Content provided by Preferred Networks, Inc.

Preferred Networks, Inc. (PFN) announced that PFN and Mitsui & Co. (Mitsui) established a new joint venture Mit-PFN Energy Co., Ltd. on August 31, 2020 to develop and commercialize a deep learning-based AI solution for subsurface structure analysis.

The Tokyo-based joint venture aims to apply deep learning technology to seismic analysis, a common method to find underground oil and gas reservoirs using artificially induced shock waves. By using PFN’s supercomputer for large-scale simulation of seismic wave propagation, Mit-PFN Energy aims to develop a solution that accurately estimates geological structure for efficient utilization of subsurface resources.

In addition to oil and gas, the new joint venture also plans to use its solution for subsurface carbon capture and storage (CCS) as well as renewable energy including geothermal.

Mit-PFN Energy is 51 percent owned by Mitsui and 49 percent by PFN, and headed by Haruaki Moritani.

Going forward, PFN and Mitsui will continue to build business models using deep learning technology while collaborating with partner companies and utilizing the Mitsui & Co. Group’s wide-ranging business assets.


We know you don’t want to miss any latest news or research breakthroughs. Subscribe to our popular newsletter Synced Global AI Weekly to get weekly AI updates.

1 comment on “Preferred Networks and Mitsui Establish Joint Venture for Deep Learning-Based Subsurface Structure Analysis

  1. Pingback: Preferred Networks and Mitsui Establish Joint Venture for Deep Learning-Based Subsurface Structure Analysis – IAM Network

Leave a Reply

Your email address will not be published.

%d bloggers like this: