- AI-enabled software to help major oil and gas producers unlock power of additive manufacturing, helping them to reduce costs and emissions throughout the value chain.
- New software has been used to assess more than 1 million parts for multinational andlarge corporations.
Immensa is set to invest more than $6 million in enhancing its recently launched AI-enabled software, promising to help energy companies create more efficient, sustainable and resilient supply chains in the region.
Immensa360, an end-to-end solution designed to assess and digitize inventories for major oil and gas producers, can help companies unlock the transformative potential of digital supply chain by using additive manufacturing and other on-demand production methods. With its new investment, Immensa will enhance Immensa360’s capabilities and incorporate machine learning into its core functionalities.
Additive manufacturing is becoming a booming industry with the metals share of the market expected to grow at 20% compounded annually, much faster than traditional manufacturing, according to PwC. Its growth is predicted to accelerate as more companies realize its value.
Energy companies spend an estimated $90 billion annually on spare parts procurement. Immensa’s Immensa360 software not only offers cost-saving benefits but also helps achieve significant carbon footprint reduction, empowering energy suppliers to support the UAE’s Net Zero by 2050 strategic initiative. A study by Immensa revealed that adopting additive manufacturing for on-demand spare parts could lower the UAE’s emissions by approximately 3.62%.
Fahmi Al-Shawwa, CEO of Immensa, said: “The Immensa360 software helps energy companies to harness the power of additive and advanced manufacturing in their supply chains. Manufacturing spare parts on-demand is much more efficient, cost-effective and environmentally friendly. We are enabling oil and gas companies to build modern, future-proof supply chains that can help them to operate massive infrastructure portfolios more effectively and reliably at a time when global trade and traditional manufacturing output are under stress. Oil and gas companies are increasingly embracing digital supply chain adoption and Immensa is on track for rapid expansion and service enhancement, which began in Q4 2023.”
“Our enhanced software facilitates the entire digital asset lifecycle from assessment to ordering and production without the need to send data or files outside the single platform. This helps ensure data security and quality control, processing vast amounts of data, and enabling real-time decision making.”
The Immensa360 software has been used to assess more than 1 million parts for multinational companies. It has also identified thousands of parts suitable for local on-demand manufacturing through 3D printing, CNC machining, and casting. The technology aims to expediate the transformation of companies supplies chains, reduce procurement costs, and enhance supply chain resilience.
Immensa’s software marks a significant step towards mainstreaming the use of AI technologies in additive manufacturing. As a pioneering force in additive manufacturing across the Energy sector, Immensa aims to accelerate the adoption of digital supply chains across the region and beyond.