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RemSense Technologies garners significant purchase order and interest from energy giant Chevron

Published 07/06/2024, 09:27 am
Updated 07/06/2024, 09:30 am
© Reuters.  RemSense Technologies garners significant purchase order and interest from energy giant Chevron

RemSense Technologies Ltd (ASX:REM) has received a Purchase Order from AGC Industries Pty Ltd on behalf of energy giant Chevron (NYSE:CVX) Australia valued at $534,195.33.

The contract is scheduled to start in October this year and is for virtualplant high-resolution photogrammetry scanning and image processing of Chevron’s Gorgon LNG Train 1 located in northwestern Australia.

“This contract award underscores the ongoing recognition of RemSense's innovative solutions and the significant value our technology and services bring to the market,” RemSense CEO Warren Cook said.

“We are excited about the increased interest from companies, large and small, domestically and internationally, across several market sectors.”

The contract follows the successful completion of six previous projects at Chevron’s Wheatstone, Gorgon and Janz-IO facilities.

As it announced in its last quarterly, the company is also in discussion with one of Chevron's overseas business units, which has expressed interest in the scanning of its onshore gas plants.

RemSense's growth strategy

RemSense is actively collaborating with its existing clients to identify additional assets within their portfolios suitable for the implementation of its virtualplant technology.

The company is also engaging with multiple firms in the critical minerals sector, particularly those involved with lithium, to introduce virtualplant for enhancing their processing facilities and refineries. The benefits include the reduction of at-risk activities, improved efficiency in maintenance planning and better contractor estimates.

A core element of RemSense's growth strategy is the formation of strategic partnerships with pioneering technology companies. An example of such a partnership is with a Perth-based technology firm that specialises in AI-driven electrical device monitoring and data platforms.

RemSense believes that integrating its 3D asset visualisation platform (virtualplant) with the monitoring and data platform will offer a compelling solution, delivering significant value and an impressive return on investment.

Read more on Proactive Investors AU


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