This partnership will leverage Immensa's expertise in additive manufacturing and digital inventory solutions with Pelagus 3D's capabilities to enhance services and expand their market presence in the MENA region. Initial operations will focus on the UAE, Saudi Arabia, and Kuwait, with plans for rapid expansion across the broader MENA region. Immensa’s existing customers will now have access to the maritime sector.
Immensa will act as the exclusive distributor for Pelagus 3D’s products in the maritime and offshore sectors within the region. Additionally, it will serve as the exclusive service provider for projects initiated through Pelagus 3D's platform. The primary objectives are to streamline supply chain processes, expand OEM networks, and significantly improve service provision for end users in the MENA region.
The collaboration is exclusive for both parties within the designated territories, ensuring a unified approach to maximising the reach and efficiency of their combined services.
The market conditions are favourable for this partnership between these two companies. The global spare parts market for the energy sector is estimated to be worth over $90 billion, with $18 billion ready for digitisation. The MENA region represents over $4 billion of this market. Immensa and Pelagus 3D estimate that the partnership could unlock at least $2 billion in new, incremental revenues, increasing the regional market potential by over 50%.
"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," said Fahmi AL Shawwa, CEO, Immensa.
“This marks a significant milestone in our mission to drive 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," added Haakon Ellekjaer, Chief Commercial Officer, Pelagus 3D.
Immensa also introduced a new brand name for its AI-enabled software platform, now called Immensa360, which was previously known as DIS-RT. This platform provides an end-to-end solution to assess and digitise inventories.
This announcement is the latest example of Immensa’s commitment to excellence, following the recent appointment of Nabil Habayeb as an independent Non-Executive Director. Habayeb brings extensive experience from his 41 years at GE, where he most recently served as President & CEO of GE International Markets from 2020 to 2023.
The maritime sector relies on capital-intensive assets that operate in highly corrosive environments. Effective maintenance is crucial for safe operations and minimising downtime, which can cause significant revenue losses and safety issues. Additive manufacturing technology in the maritime sector is rapidly growing. A 2022 report by the Maritime Port Authority of Singapore highlighted key drivers, including reduced need for extensive spare parts inventories, addressing parts obsolescence, and shorter turnaround times for obtaining spare parts, reducing the need for prolonged layovers in ports.
