Finance Derivative Magazine Issue 4

Page 63

Technology

HOW VIRTUAL REALITY AND DIGITAL TWINS ARE TRANSFORMING TUNNELLING

N

ew tunnelling technology company hyperTunnel is revolutionising an industry which has seen little in the way of fundamental change in 130 years. Through technology transfer and digital transformation, this British startup is completely changing the way underground spaces are built, maintained, enlarged, and monitored. As a result, tunnelling projects are set to become more sustainable, less expensive, less time-consuming and commercially less risky – significant advantages when the world’s growing population has increasing need of underground transport and utilities infrastructure. hyperTunnel’s innovative new approach is made possible by adapting technologies from industries such as Formula 1, mining, oil and gas, chemistry and surveying. This lateral thinking comes directly from the company’s leaders, who possess expertise not only in civil and structural engineering, but also a broad range of other industries.

In fact, hyperTunnel co-founders Steve Jordan and Jeremy Hammond first saw the need to modernise tunnelling when jointly exploring a new approach to tidal-range energy. My professional experience encompasses nearly 20 years in top-level motorsport, working with the most advanced race car simulations, building digital twins for vehicle development and race strategy. And the chair of hyperTunnel’s technical board, Peter O’Riordan, led development of London’s Crossrail 2 scheme, the London section of the HS2 project, and the redevelopment and refurbishment of London’s St Pancras Station as part of HS1. The founders and staff majority-own hyperTunnel. Following a successful convertible loan note (CLN) offering earlier this year, the company is seeking further large-scale investment to develop the business globally. Swarming hyperBots hyperTunnel’s most radical departure

from convention is perhaps also its most surprising: whereas the age-old approach is to dig a hole and then build the tunnel, hyperTunnel first builds the tunnel, then digs the hole. The tunnel’s structural shell is constructed by sending hyperBots (semi-autonomous robots) into horizontal direction drilled (HDD) bores, where they perform tasks including data-gathering, drilling, spoil removal, and the deployment of composite construction material in an additive manufacturing process using the same principle as 3D printing. By using swarm construction techniques, hundreds or even thousands of hyperBots can work simultaneously at different locations, with the ability to pass each other to move freely. They work to a construction plan created by Artificial Intelligence which provides all key construction data, such as material strength, chemical volume, and location. This radically new approach results in extremely high productivity. VR and a digital twin All this is made possible by first gathering data to create a digital twin of the tunnel. This twin can be viewed in great detail and high-resolution through virtual reality (VR) on computer screens. And by using augmented reality (AR), it could be possible to attend a meeting in a room thousands of miles away from the tunnel to view its interior and see live data about the condition of the structure and surrounding geology. But we’re getting ahead of ourselves, because VR’s greatest value is in the preparation phase, and there’s nothing more important. As I learned in motor racing: ‘Remember the 63


Turn static files into dynamic content formats.

Create a flipbook

Articles inside

“Everyone can be a fintech”. Behind the Banking-as-a Service Boom.

4min
pages 82-84

CI Asset Management

1min
pages 78-79

Natural gas or green hydrogen heating? It’s not that simple

4min
pages 76-77

Bank guarantees: levelling up in the new digital age

5min
pages 72-75

Why the future city is AI

4min
pages 80-81

How European Merchants can take advantage of QR Code

4min
pages 66-67

How to grow wealth by using the stock market

7min
pages 68-71

The Fintech Revolution - How New Tech Can Transform

7min
pages 60-62

How virtual reality and digital twins are transforming

5min
pages 63-65

The importance of the CFO in investment and raising

4min
pages 58-59

The rising importance of software quality assurance in fintech

4min
pages 50-51

Automating business processes is essential to digital

4min
pages 46-47

Why should financial services choose cloud native?

4min
pages 48-49

Why technology is the key to improving agility for retail

5min
pages 42-45

The five tenets of an effective cybersecurity programme

4min
pages 36-39

Cash industry on road to sustainability

5min
pages 40-41

Network visibility: how banks can transform their IT

4min
pages 34-35

How to embed ESG into your M&A deal

4min
pages 32-33

How digital invoicing can help offer a better e-commerce experience

4min
pages 29-31

Transforming the reporting process for success

4min
pages 20-21

Digital Currencies: The next big financial experiment?

3min
pages 10-11

Business sustainability: is it too late for a business to

4min
pages 7-8

Interview with Dr. Herbert Wigwe,GMD/CEO, Access Bank Plc.

11min
pages 22-28

Unlocking the Power of Hyperautomation in Finance

5min
pages 16-19

Delivering an Effective Cybersecurity Strategy

6min
pages 14-15

Is cryptocurrency the new ‘digital gold?’

5min
pages 12-13

Sustainable investing. Can social aims and financial aims go hand in hand?

3min
page 9
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.