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Neural Grader

Neural Grader - Digitizing the Wood Industry

Total Cost €

EC-Contrib. €

Partnership

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Outcomes and
results

Neural Grader project word cloud

Explore the words cloud of the Neural Grader project. It provides you a very rough idea of what is the project "Neural Grader" about.

automated million market efficiency expensive competitors quality 200 cameras industry clients start america digital images 2020 sent respectively platform competitive errors artificial computes commands solution cutting specialized industrial revenue optimal overly lines buying b2b environmental newest grads creation lies survival digitization overwhelmed 2022 speed finance 12 too disrupting 29 inventory wood accuracy preventing sends defects employees capture companies 4 classifies north urgent grow price accessible lumber expenses letters boards 2019 grader dominated intelligence exceeds poses board job annex neural affordability sawmills sa waste machine innovation enormous global advantages detects smes accurately 2021 full fordaq base almost economic

Project "Neural Grader" data sheet

The following table provides information about the project.

Coordinator	FORDAQ Organization address address: AVENUE LOUISE 523 city: BRUXELLES postcode: 1050 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.
Coordinator Country	Belgium [BE]
Project website	https://www.neuralgrader.com
Total cost	71˙429 €
EC max contribution	50˙000 € (70%)
Programme	1. H2020-EU.3. (PRIORITY 'Societal challenges) 2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs) 3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
Code Call	H2020-SMEInst-2018-2020-1
Funding Scheme	SME-1
Starting year	2019
Duration (year-month-day)	from 2019-02-01 to 2019-07-31

Partnership

Take a look of project's partnership.

#	participants	country	role	EC contrib. [€]
1	FORDAQ FORDAQ Organization address address: AVENUE LOUISE 523 city: BRUXELLES postcode: 1050 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	BE (BRUXELLES)	coordinator	50˙000.00

Map

Project objective

Fordaq SA has been leading the wood products B2B global market for almost 20 years. We provide our 200.000 user companies with a specialized digital platform for buying products. We have observed how low digitization of the wood industry poses problems for success & often survival for SMEs. There is an urgent need of an automated solution for processing lumber. The current methods are too expensive for SMEs and in practice lead to errors, enormous economic & environmental waste.

Our newest product - Neural Grader is the solution to this problem, having the potential of disrupting the European and global wood industry. Its innovation lies in the industrial cameras that capture images of each board and, using state-of-the-art Artificial Intelligence methods, accurately classifies wood quality. Neural Grader also computes the optimal way for cutting the boards and sends commands to the cutting machine, preventing wood waste.

Competitive advantages: - Efficiency: it detects defects and grads lumber at high speed, with accuracy that exceeds the one of existing systems; - Affordability: the price will be 1/4 of the price of our competitors’ products, making it accessible for the SMEs, who are currently overwhelmed by overly expensive technology and dominated by large companies; - Full-control of production: companies can manage the production lines and inventory and focus on quality.

We have a large base of existing clients and 10 sawmills in Europe & North America sent us Letters of Support (ANNEX 1).

Finance: We expect revenue growth of €1.2, €4.4 and €8.3 million in 2020, 2021 and 2022, respectively. Job creation increases from 12 to 29 employees. Operating expenses start at €0.9 million in 2019 and grow to € 2.3 million in 2022.

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The information about "NEURAL GRADER" are provided by the European Opendata Portal: CORDIS opendata.

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