VTTV: Invests in joint research and innovation with EMERGE

VTT Vasiliko Ltd (VTTV), owner of Vasilikos Terminal Storage and Management Company, has signed a collaboration agreement with the EMERGE Research Team of the Cyprus University of Technology (CUT). This collaboration is part of the company's Corporate Social Responsibility program and its commitment towards delivering quality education through synergies with academic institutions on research and innovation endeavors.

The aim of the collaboration is the "Development of a data management system for monitoring the structural integrity and performance of the coastal structure of jetty, as well as investigating wave effects in the Vasiliko area". The fact that VTTV privately owns key energy facilities at the Vasilikos storage terminal makes it an ideal choice for conducting this research investigation.

On behalf of CUT, the research study is undertaken by Dr. Constantinos Michailidis, Lecturer of Offshore structures, Professor Toula Onoufriou, Professor of Infrastructure Reliability and Management and Dr. Pavlos Christodoulides, Assistant Professor of Applied Mathematics. This long-term research program will also provide the opportunity to undergraduate and postgraduate students of CUT to participate, as well as postdoctoral researchers. VTTV's specialized staff will also be involved in the endeavor.

As part of the partnership, VTTV has invested over € 45,000 to purchase and install monitoring equipment, including a wave monitoring station, state-of-the-art meteorological systems, data processing software, as well as software that will facilitate the visualization of the results obtained from the aforementioned systems. Combined with the specialized expertise and equipment provided by the EMERGE CUT Research Team as well as the computational and mathematical models it develops, the equipment will provide metrics that aid the development of a real-time data management system. This will enable VTTV to improve its management practices of both its onshore and offshore facilities and infrastructures and the efficiency of their maintenance operations, with the ultimate aim of ensuring maximum safety. The monitoring outputs, will be also used to develop a numerical model for predicting wave effects in the area, thus supporting the activities of VTTV and other companies operating in the Vasilikos Energy Center.

The installation of the monitoring equipment will take place in September 2019.

VTTV's Managing Director George Papanastasiou has highlighted the importance of working closely with academic institutions, as it can make a decisive contribution towards improving industry infrastructure while also disseminating know-how to the academic community and industry. "The results of VTTV's cooperation with CUT are expected to contribute substantially to our efforts towards improving our infrastructure and the development of a viable and socially responsible business ", Mr. Papanastasiou noted.