One of the department's spin-off companies, Verdande Technology AS (former Volve), has been given a status update in the March issue of the GEO magazine (pdf).
Verdande Technology was founded in 2004, and currently employs 16 people full time. The company was founded by people from our department and the Department of Petroleum Engineering and Applied Geophysics, together with students from NTNU's School of Entrepreneurship.
The company's core technology combines the AI method case-based reasoning (CBR) with analysis and structuring of oil well drilling data and human experiences, in order to in real time warn drilling operators about occuring problems and inform about possible remedies.
Verdande Technology's software solutions are primarly aimed at the oil and gas industry, but the company in co-operation with IDI is also breaching the technology frontier in other domains - using CBR in a medical application project.