Join our daily newsletter At The Bell to receive exclusive market insights
- RemSense Technologies (REM) wins a multi-year contract from AGC Industries to carry out its Virtualplant scanning of further liquefied natural gas (LNG) facilities
- This contract comes courtesy of Chevron Australia and is worth around $2 million
- It follows the successful Virtualplant screening of some of Chevron’s assets last year
- REM Managing Director Steve Brown says it marks a “significant milestone” for the company, with the new contract the “largest single commitment for Virtualplant scanning”
- Shares in REM are down 6 per cent to 9.4 cents at 11:44 am AEDT
RemSense Technologies (REM) has won a multi-year contract from AGC Industries to carry out Virtualplant scanning of further liquefied natural gas (LNG) facilities.
The contract, on behalf of Chevron Australia, marks the “largest single commitment for Virtualplant scanning”.
“It’s a great example of the maturing of enterprise sales opportunities started in 2022 by our business development team, led by Anthony Roe,” RemSense Managing Director Steve Brown said.
“The team has been steadily building opportunities in parallel to the development of Virtualplant products and services with our global partners.”
According to RemSense, Virtualplant is a visualisation tool that offers remote viewing of physical assets. It offers businesses the ability to carry out powerful audit records of their assets.
Some of its key benefits include accelerating digital transformation, improved planning and maintenance efficiency, driving net zero, reducing risks and cost savings.
The contract, which lasts through 2023 and 2024, is estimated to be worth around $2 million.
RemSense said it continued to progress with other prospects across markets in Australia and overseas in the meantime.
Shares in REM were down 6 per cent to 9.4 cents at 11:44 am AEDT.
