May 23, 2024
(press release)
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$2 billion market opportunity set to open up, as partnership of two global leaders in their respective sectors targets MENA region expansion Pelagus 3D, a joint venture company of thyssenkrupp and Wilhelmsen, announces it has signed a Strategic Collaboration Agreement (“the Partnership”) with Immensa, MENA’s largest digital manufacturer to develop spare parts for the maritime and energy industries. The Partnership will see Pelagus 3D and Immensa combine their respective strengths in additive manufacturing and digital inventory solutions to enhance service offerings and expand their market presence in the Middle East and North Africa (MENA) region. Pelagus 3D’s secure Pelagus platform serves as the main connection between customers such as vessel managers and Original Equipment Manufacturers (OEMs) for on-demand spare parts manufacturing. Immensa will serve as the exclusive service provider for projects initiated through Pelagus 3D's platform in the territory and will also distribute Pelagus 3D’s products within the maritime and energy sectors. The ultimate aims are to (i) streamline supply chain processes (ii) expand OEM networks and (iii) deliver significant improvements in service provision to end users in the MENA region. The Partnership is mutually exclusive for both parties within the designated territories – providing a strong foundation to align efforts – and to maximise the reach and efficiency of the partners’ combined services. The Partnership will broaden Pelagus 3D’s services in the energy sector. "Immensa seeks to be world-class in everything it does: technology, strategy, execution, talent, and its partners. Today’s news brings two world-class partners together and we look forward to working closely with Pelagus 3D – which is developing the largest database of spare parts for additive manufacturing in the maritime and offshore industry - to transform inventory management across sectors,” added Fahmi Al Shawwa, Chief Executive Officer of Immensa. The market environment is ideal for a partnership between two global leaders: Pelagus 3D – the leader of digital inventory in the maritime and offshore industry – and Immensa – the leader in digitising spare parts and additive manufacturing for the energy sector. The global energy sector spare parts market is estimated to be worth over US$90 billion, of which $18 billion is immediately ripe for digitising and converting to a digital supply chain. The MENA region accounts for over $4 billion. Pelagus 3D and Immensa conservatively estimate the Partnership will open up at least $2 billion of new, incremental potential revenues – an increase in the region of over 50%. “This marks a significant milestone in our mission to drive the adoption of on-demand spare parts in the MENA region. Through this partnership, we are offering enhanced additive manufacturing services and technologies for our OEMs and end users, fostering technological advancement in the industry. We look forward to working together with Immensa to further AM innovation and accelerate adoption,” said Haakon Ellekjaer, Chief Commercial Officer of Pelagus 3D. Pelagus 3D remains committed to elevating the Pelagus platform, ensuring timely and quality delivery of spare parts to customers in the region. ### About Pelagus 3D: Pelagus 3D is an on-demand digital manufacturing partner for the maritime and offshore industry. A joint venture company of thyssenkrupp and Wilhelmsen, Pelagus 3D leverages on additive manufacturing to ensure the availability of on-demand spare parts. With our incomparable ecosystem of global partners, a secured digital Pelagus platform, and 3D design expertise, Pelagus 3D is focused on helping customers ensure connectivity and continuity in operations without interruption. Through the Pelagus platform, Pelagus 3D is connecting OEMs, manufacturing partners, and over 4000 participating vessels and oil and gas platforms together, developing the largest database of spare parts available for additive manufacturing. Know more about Pelagus 3D at Pelagus.com. About Immensa: Established in 2016, Immensa has swiftly risen to prominence as the leading AM (Additive Manufacturing) & DIS (Digital Inventory Solutions) service provider in the MENA region. Boasting state-of-the-art centers in the Kingdom of Saudi Arabia and the United Arab Emirates, Immensa serves a prominent client base that includes multinational Oil & Gas Original Equipment Manufacturers (OEMs), National Oil Companies, and International Oil Companies. With a formidable team of over 100 AM specialists and engineers, Immensa is the only company that owns and controls the entire digital supply chain, offering turnkey solutions that span assessment, digitization, and production on demand. Companies in the energy & power sectors alone spend over US$90 billion annually on spare parts. Immensa's solution not only offers cost-saving advantages but also addresses pressing environmental concerns. According to various studies, the adoption of AM for on-demand spare parts production could lower the carbon emissions by 12.39%. Together, AM and DIS are more than just innovations; they represent a clear, vital pathway to a sustainable industrial future. To unlock the full potential of AM, we need to consider the transformative power of Digital Inventory Solutions. By storing digital twins of spare parts, DIS enables on-demand, localized production, eliminating substantial shipping needs. This synergy amplifies the environmental benefits of AM, shaping a new paradigm in manufacturing that aligns perfectly with global sustainability goals. Immensa is poised to redefine the future of digital supply chains with its adoption of additive manufacturing and its innovative Immensa360 platform. By solving the key challenges of AM process integration, Immensa is catalyzing faster adoption rates, not just in the MENA region but globally. For more information: https://immensa.io/
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