OneSoft Solutions Inc.

OneSoft Launches Phase One of Pipeline Integrity as a Service, Machine Learning Corrosion Analysis Automates Manual Work and Reduces Costs

EDMONTON, AB /ACCESSWIRE/September 26, 2022/ OneSoft Solutions Inc. (TSX-V:OSS)(OTCQB:OSSIF) (“OneSoft” Where “Company“) today announced that its wholly-owned subsidiary, OneBridge Solutions Inc. (“OneBridge“), will present its breakthrough corrosion growth analysis solution at the International Pipeline Conference in Calgary, Alberta, September 26-30, 2022. Corrosion Growth Rate Analysis (“CGRS“) is the first component of OneBridge’s Integrity-as-a-Service (“IaaS“) cloud-based solution that will allow integrity engineers to use the company’s Cognitive Integrity Management™ components (“CIM“) solution to drive and automate pipeline integrity processes with features that have been validated and adopted by many enterprise-level pipeline operators for managing their pipeline assets, ultimately using a live environment. self-service line.

Management estimates that approximately 6,500 line inspections (“SG“) passes are performed annually by the Oil and Gas Pipeline Inspection Gauge/Tool (“PIG“) suppliers in the United States, as part of industry efforts to maintain the safe and reliable operation of pipelines. The data is compared to prior ILI datasets that are collected for the same pipeline segment to determine the growth rate of corrosion and other potential pipeline failure threats. This data runs comparisons (“Runcoms“) are typically conducted today by health engineers using Microsoft Excel spreadsheets and legacy systems and processes that involve tedious and extensive manual labor efforts. Due to the very large volumes of data involved, most of data (i.e. 95%) is filtered from the comparison process, with only candidate anomalies and features being analyzed on a pit-to-pit basis And due to the large amount of data involved, only datasets Most recent and subsequent ILIs are typically compared and analyzed, excluding the additional intelligence that more historical data might provide Analysis of limited candidate data is extrapolated to the rest of the pipeline and subjective assumptions such as “6 mm of wall loss per year” or “half-life to failure” predictions are used to make risk predictions. Costs of performing Runcoms by PIG vendors and third-party consultants using legacy methodologies typically range between (USD) $10,000 and $50,000, depending on how my Any potential anomalies are analyzed during the process and typically require weeks or months to complete.

An industry first, OneBridge’s CGRA IaaS solution is revolutionary in that ILI datasets, regardless of PIG vendor or tool technology, can be “dragged and dropped” onto the environment CGRA secure Microsoft cloud. CGRA’s Virtual Integrity Engineering capability will load and align all data, perform 100% pit-to-pit match of all anomalies and features from any number of ILI datasets that are uploaded and corrosion growth rate analysis and reporting occurs within minutes or hours.

OneBridge intends to charge a fixed fee of $4,950 (USD) to perform Runcoms involving two ILI datasets and $500 for each additional historical ILI dataset that is uploaded for analysis. These time and cost savings result from CGRA’s machine learning capabilities, which process large amounts of data using Microsoft’s Azure secure cloud computing platform and require minimal human effort to administration. Operators who choose to use CGRA may be able to expand their use by adopting other CIM functions such as assessment planning, excavation management, threat monitoring, GIS data correlation, management of the logistics system and processes and expanded reporting and data visualization functions as these new components are deployed. in the future on a pay-per-user IaaS basis.

“To date, our strategy has been to focus on selling enterprise systems to industry leaders, whose user feedback and experiences have strongly validated our CIM platform and data analytics approach that leverage machine learning and cloud computing,” said Brandon Taylor, President of OneSoft. “The deployment of corrosion growth rate analysis as the first component of Integrity as a Service demonstrates the scalability of enterprise CIM functionality. Our IaaS approach will enable the more than 1,800 U.S. enterprises that operate less than 1,000 miles of pipeline to utilize and realize the effectiveness of the advanced integrity management methodologies our Fortune 50 and 100 CIM customers have access to, in a cost-effective and affordable manner.”

About OneSoft and OneBridge

OneSoft has developed software technology and products capable of transitioning legacy on-premises licensed software applications to run on the Microsoft Azure Cloud Platform. Our business strategy is to seek opportunities to integrate data science and machine learning, business intelligence and predictive analytics to create cost-effective, subscription-based software-as-a-service solutions. Visit www.onesoft.ca for more information.

OneSoft’s wholly-owned subsidiary, OneBridge Solutions Canada Inc., develops and markets revolutionary new SaaS solutions that use advanced data science and machine learning to analyze big data using predictive analytics to help oil and gas pipeline operators predict pipeline failures to save lives, protect the environment, reduce operating costs and meet regulatory compliance requirements. Visit www.onebridgesolutions.com for more information.

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Forward-looking statements

This press release contains forward-looking statements relating to the future operations and profitability of OneSoft Solutions Inc. (the “Company“) and other statements that are not historical facts. Forward-looking statements are often identified by words such as “may”, “should”, “anticipate”, “expect”, “believe”, ” will”, “intends”, “plans” and similar expressions. All statements contained in this press release that are not statements of historical fact can be considered forward-looking statements. This forward-looking information is provided to provide information about management’s current expectations and plans regarding Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions.

With respect to forward-looking information and statements, the Company has relied on certain assumptions which it believes to be reasonable at this time, including expectations and assumptions regarding, among other things: the impact of Covid-19 on the business operations of the Company and its current and potential customers; availability and cost of labor and services; the effectiveness of its software; our interpretation based on various industry sources of information regarding the total number of miles of pipeline in the United States and around the world and which segments are piggable; our understanding of assessment, inspection and maintenance measures, activities and costs is consistent with various industry sources of information and is reasonably accurate; that counterparties to material agreements will continue to perform in a timely manner; that no unforeseen event prevents the execution of the contracts; that there are no unforeseen physical development or other costs related to ongoing growth projects or ongoing operations; the success of growth projects; future operating costs; interest rate and exchange rate; planned synergies, capital efficiency and cost savings; the adequacy of budgeted capital expenditures for carrying out planned activities; and no change in applicable tax laws. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Because forward-looking information deals with future events and conditions, such information, by its very nature, involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to numerous factors and risks. These include, but are not limited to, risks associated with the industries in which the Company generally operates, such as: costs and expenses; interest rate and currency exchange rate fluctuations; competition; ability to access sufficient capital from internal and external sources; and changes in legislation, including, but not limited to, tax laws.

Readers are cautioned that the above list of factors is not exhaustive. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to publicly update or revise any of the forward-looking statements included, whether as a result of new information, future events or otherwise, except as expressly required by Canadian securities law.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States. The securities offered have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold to United States in the absence of registration or an applicable exemption from registration. requirements of this or other laws.

The TSX Venture Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this release.

THE SOURCE: OneSoft Solutions Inc.

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