Lumicent launches decision platform for industrial risk

Lumicent has launched a decision intelligence platform for industrial operations, marking its rebrand from CoGo.

The platform is aimed at sectors including mining, oil and gas, and heavy manufacturing. It is designed to help industrial groups identify emerging asset risk, assess the likely business impact and decide which issues need attention first.

The Vancouver-based company says the product combines continuous asset-condition data with what it calls Physical AI and consequence-based analysis. It works alongside systems already used at industrial sites, including SCADA, enterprise asset management software, maintenance management systems, inspection programmes, sensors and condition-monitoring tools.

Chief Executive Officer Andy Pruett said many industrial organisations do not lack data; they struggle to turn warning signs into decisions quickly enough. He founded the business after more than two decades in mining and oil and gas operations.

"Industry does not have a data problem. It has a decision problem," said Andy Pruett, Co-Founder and Chief Executive Officer, Lumicent.

"For more than two decades in industrial operations, I saw warning signs that existed somewhere in the organization but never became clear, consequential or urgent enough to change the outcome. Lumicent is built to help teams understand which risks matter most while there is still time to act, not after the loss has already made the decision for them," Pruett said.

How It Works

Lumicent says its software analyses how assets behave under operating conditions and flags meaningful deviations. It then evaluates the possible effects of those changes across six areas: operations, safety, financial, regulatory compliance, environmental and reputational.

This is intended to help companies distinguish between issues that require immediate intervention and those that can continue to be monitored. The platform also uses agentic workflows to coordinate approved responses across staff, systems and operating processes, while leaving final judgement to human operators.

Pruett said the same physical problem can carry very different consequences depending on where it appears in an operation. A fault on a non-critical or redundant asset may be manageable, while a similar fault at a single point of failure may threaten production, safety or environmental performance.

"The same physical condition does not always create the same business risk," Pruett said.

"A developing issue on a redundant, lower-impact asset may warrant observation. That same issue at a critical single point of failure may demand immediate action because it threatens production, safety, the environment or the bottom line. The goal is not more alerts, but a shared understanding of what could hurt the business most, why it matters and what should happen next," he said.

Industrial Pressure

Industrial operators are under pressure to cut unplanned downtime, extend asset life and manage operational risk with limited maintenance resources. Large sites often produce extensive streams of sensor readings, inspection reports and maintenance records, but those inputs do not always produce a clear ranking of what matters most.

Lumicent says its system is intended to provide that ranking by linking asset condition to business exposure. Depending on the operating environment, asset mix and use case, deployments can support reductions in unplanned downtime of 30% to 50% and cut manual inspection requirements by up to 90%.

The company says its MA1 and AG condition-monitoring products are FM Approved. It added that the decision platform operates independently of industrial control systems, meaning customers do not need to replace existing infrastructure to use it.

The launch comes as industrial losses remain high across energy, resources and manufacturing. Lumicent cited data from Swiss Re Institute showing that natural catastrophes caused an estimated USD $107 billion in insured losses worldwide in 2025, the sixth straight year in which losses exceeded USD $100 billion.

Early Customer

One early user is USA Rare Earth, which is building a domestic supply chain for critical materials. Its manufacturing team said reliability within its own operations is central to avoiding disruption during commissioning and production.

"As we build a more secure domestic supply of critical materials, reliability inside our own operations becomes critical," said David Hess, Director of Manufacturing Supply Chain, USA Rare Earth.

"Lumicent helps us identify issues before they become disruptions to commissioning or production, and gives us greater confidence that we're focusing our people and resources where they can have the greatest impact," Hess said.

Lumicent was founded in Vancouver in 2020 as CoGo. It began by focusing on detecting changes in the condition of critical assets and is now broadening that approach into a wider decision-making system for operations, engineering, risk, finance and executive teams.