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Home » Immensa and DNV Launch Transformative, Global Guideline for the Energy Spare Parts Market
July 4, 2024
Press Release

Immensa and DNV Launch Transformative, Global Guideline for the Energy Spare Parts Market

Breakthrough innovation in global best practice, a first for industry

Immensa and DNV Launch Transformative, Global Guideline for the Energy Spare Parts Market

Immensa (“the Company”), MENA’s largest digital manufacturer, announces – in collaboration with DNV (Det Norske Veritas) – the world’s first guideline on the digitization of spare parts.

The new guideline is a breakthrough innovation, and with the energy spare parts market valued at $91 billion globally – it is pivotal for the energy sector.

It will significantly complement various national industrial initiatives in the Gulf region, stimulating sustainable economic growth and enhancing the global competitiveness of industrial bases amid the Fourth Industrial Revolution.

The guideline will support customers – international energy players, as well as industrial manufacturing companies – to embark on the advanced manufacturing journey via a clear, streamlined step-by-step process focused on solving challenges in supply chain and inventory management making it more efficient and flexible.

Fahmi Al Shawwa, CEO of Immensa, said:

“We are thrilled to set a new benchmark in the digital transformation of industry alongside our world-class partners at DNV – and today’s news is a game-changer for global supply chains and asset security.”

“Energy companies are demanding the very latest cutting-edge innovation to produce parts locally, and national industrial strategies are focused on the same goal for their wider manufacturing sectors. We are delighted to support the Middle East’s rapid growth, and to be a pivotal player in the $91 billion global energy spare parts market.”

This world-first guideline– is a milestone in digitization of industrial spare parts. The disruptive qualities of a Digital Inventory bring established guidelines on data capture of spare parts, a defined digital asset concept, and standardized approach for creating digital assets.

While the guideline is a certification for the wider manufacturing industry to adopt, Immensa is implementing it today with global customers – a major competitive differentiator. For customers seeking to start their advanced manufacturing journey today,
Fahmi added, “We can conduct AI-enabled assessment for 500,000 parts in 24 hours – customers can start now with this first step.”

Energy companies, globally, experience ‘unnecessary losses’ of c. $30 billion annually related to inventory management, thus making digitized inventories and on-demand manufacturing a high priority. Immensa believes that in a decade, or less, 80% of spare parts manufacturing will be done this way – rendering traditional legacy models obsolete.

A dedicated team of 10 experts, from Immensa and DNV, spent five months working to establish the guideline – pooling their knowledge of additive manufacturing, digital warehousing, and quality assurance. The guideline also reflects customer insight to ensure rigorous technical depth – but effective and accessible criteria for purchasers and manufacturers to consult.

Dr. Sastry Kandukuri, Global AM Practice Lead & Technical Authority for AM Certification at DNV Energy Systems, commented:

“We, at the DNV AM team, are delighted to reflect on our successful collaboration with Immensa on this groundbreaking project. The unveiling of the industry’s first-ever guideline on Digital Inventory Readiness Levels marks a significant milestone in additive manufacturing, setting a new benchmark and paving the way for future innovations and collaborations.”

The guideline’s framework includes: (i) assessing physical parts for digitizing potential; (ii) converting selected physical parts into digital twin, and inclusion in a Digital Inventory system; and (iii) On-demand Manufacturing – recommendations for its use as a viable spare parts strategy, for timely delivery and high-quality standards.

It follows recent strategic partnerships expanding Immensa’s global footprint, including Pelagus 3D – to capture a new US$2 billion market opportunity in the maritime vertical. In December 2023, Immensa received its milestone DNV Certification, the global gold-standard – the first company in MENA to have achieved it.

About DNV

DNV is an independent assurance and risk management provider, operating in more than 100 countries. Through its broad experience and deep expertise DNV advances safety and sustainable performance, sets industry standards, and inspires and invents solutions.

Whether assessing a new ship design, qualifying technology for a floating wind farm, analyzing sensor data from a gas pipeline or certifying a food company’s supply chain, DNV enables its customers and their stakeholders to manage technological and regulatory complexity with confidence.

Driven by its purpose, to safeguard life, property, and the environment, DNV helps its customers seize opportunities and tackle the risks arising from global transformations. DNV is a trusted voice for many of the world’s most successful and forward-thinking companies.

In the Energy Industry

DNV provides assurance to the entire energy value chain through its advisory, monitoring, verification, and certification services.  As the world’s leading resource of independent energy experts and technical advisors, the assurance provider helps industries and governments to navigate the many complex, interrelated transitions taking place globally and regionally, in the energy industry. DNV is committed to realizing the goals of the Paris Agreement, and supports customers to transition faster to a deeply decarbonized energy system.