OpenSpace | September 29, 2022
OpenSpace, the global leader in 360° jobsite capture and AI-powered analytics, shared that European software procurement platform QBS Software is joining its Partner Network. With more than 10,000 software publishers on its platform and expert customer service, QBS's reseller network will widen access to OpenSpace throughout the EMEA construction, banking, insurance, facilities management, and retail industries, improving onsite visibility and efficiency.
With OpenSpace Capture, builders or site managers can fully document their jobsite while walking the site as they normally would with a mobile device or an off-the-shelf, consumer 360° camera that can be attached to their hardhat. Once the video is uploaded to the cloud, OpenSpace's computer vision technology stitches images together and pins all the images to the floor plan, creating a trusted visual record of site status. Powered by the company's Vision Engine, the site image map is typically ready to view in about 15 minutes after upload. In a survey of OpenSpace's community and customers, it was found that on average 67% of customers reported saving thousands of dollars on project costs, while 74% saved multiple hours per week. Through this partnership, QBS will be able to expand its portfolio and enable its enterprise customers to benefit from these cost and time savings.
"Our focus is on providing innovative and top-of-the-line software that creates opportunities for our customers and partners. With OpenSpace we are able to bring an industry-leading solution in the Architecture, Engineering, and Construction (AEC) space, With OpenSpace, we're able to bring an industry-leading and easy-to-use solution that improves coordination and efficiency of builders, project managers, owners, contractors, and sub-contractors throughout a wide variety of industries."
-Dave Stevinson,CEO QBS Technology Group.
OpenSpace is used today on projects in 86 different countries around the world, and has seen growing momentum in the EMEA region recently, with a 300% year-over-year increase on-platform in 360° imagery capture. Regional customers include JLL, Skanska, VINCI, and Unispace, among others. With QBS joining the OpenSpace Partner Network, even more builders, owners, and property managers will have easy access to OpenSpace's site capture and analysis technology.
"Having worked with QBS Software for 20 years, I've experienced firsthand the amazing support that they provide to technology resellers, We are thrilled to be partnering with QBS to bring OpenSpace to any project, regardless of the industry, and believe that with the breadth of the QBS partner base, we'll be able to bring this technology across all EMEA."
-Andrea Brown Head of Channel and Partnerships OpenSpace.
By having a historical visual record of the site, OpenSpace makes it easier for projects to stay on budget and on time, as well as enabling smoother remote collaboration among stakeholders. OpenSpace's technology can also mitigate risk, as the 360° image captures serve as a time machine that can be used to go back and view historical site status. In terms of project analysis, OpenSpace offers automated progress tracking technology, which measures the percent of work completed for key pathways like walls, mechanical, electrical, and more. Customers can also use the platform to create 3D scans of certain areas onsite, using LiDAR-powered iPhones and iPads.
Founded in 2017, OpenSpace is an AI technology company on a mission to bring new levels of transparency and efficiency to construction and real estate. With our platform, builders automatically capture a complete visual record of the construction site, providing a single source of truth that increases coordination, drives accountability, and simplifies dispute resolution. To date, our customers have used OpenSpace to capture more than ten billion square feet of imagery from active construction projects across thousands of sites in over eighty-six countries.
About QBS Technology Group:
Established in 1987, QBS Technology Group (including QBS Software) provides a platform for software companies and channel partners to increase efficiency and achieve growth. With a focus on innovative software – covering the enterprise, cloud, and consumer markets – QBS Technology Group combines experience, specialist skills, local presence and trusted relationships.
The Timken Company | September 07, 2022
The Timken Company, a global leader in engineered bearings and industrial motion products, has reached an agreement to acquire GGB Bearing Technology (GGB), a division of Enpro, Industries (including exclusive negotiations with respect to the French operations of GGB). Founded in 1899, GGB serves a variety of diverse customers, markets, geographies and applications with a product portfolio that complements existing Timken industry-leading engineered bearing solutions. GGB revenue is expected to be around $200 million in fiscal year 2022.
"GGB has a strong heritage of delivering high-performance products to well-established customers who are leaders in their respective industries, This acquisition provides strong synergies and meaningfully expands our business by adding complementary products with a solid growth outlook. GGB's leading portfolio of metal-polymer bearings will further Timken's ability to deliver the best solution to our customers' most challenging friction management applications. GGB also presents an excellent cultural fit for Timken, including a commitment to corporate social responsibility with a portfolio of environmentally sustainable solutions."
-Richard G. Kyle, Timken president and chief executive officer.
GGB is a global technology and market leader of premium engineered metal-polymer plain bearings with expertise in material science, surface engineering and tribology. With manufacturing facilities across the United States, Europe and China, GGB employs approximately 900 people and has a global engineering, distribution and sales footprint. The company's tribology solutions in plain bearing coatings complements Timken's leading positions in roller and ball bearings. GGB's products are used mainly in industrial applications, including pumps and compressors, HVAC, off-highway, energy, material handling and aerospace.
Timken will fund the transaction with cash on hand and its existing revolving credit facility. The deal is subject to customary closing conditions and is expected to close in the fourth quarter of this year. Timken anticipates the acquisition will be accretive to earnings in the first full quarter after closing.
About The Timken Company:
The Timken Company designs a growing portfolio of engineered bearings and industrial motion products. With more than a century of knowledge and innovation, we continuously improve the reliability and efficiency of global machinery and equipment to move the world forward. Timken posted $4.1 billion in sales in 2021 and employs more than 18,000 people globally, operating from 43 countries. Timken has been recognized among America's Most Responsible Companies by Newsweek, the World's Most Ethical Companies® by Ethisphere, and America's Best Employers, Best Employers for New Graduates and Best Employers for Women by Forbes.
ROBOTICS AND AUTOMATION
AMP Robotics® Corp. | July 05, 2022
AMP Robotics Corp. (“AMP”), a pioneer in AI, robotics, and infrastructure for the waste and recycling industry, has expanded its partnership with Waste Connections, Inc. (TSX/NYSE: WCN), its largest customer. Since late 2020, Waste Connections has booked or deployed 50 of AMP’s high-speed robotics systems on plastic, fiber, and residue lines, becoming the largest operator of AI-guided robotics in the industry.
“It’s gratifying to reach this milestone with a leader in resource recovery like Waste Connections. We’ve worked tirelessly to deliver AI and robotics systems that modernize today’s recycling operations by increasing productivity, stabilizing costs, and improving the quality and value of recycled commodities, We remain committed to the continuous enhancement of our AI and automation solutions to stay ahead of industry challenges, exceed customer expectations, and support the industry’s sustainability and climate goals.”
-Matanya Horowitz, founder and CEO of AMP Robotics.
AMP’s technology identifies and recovers plastics, cardboard, paper, cans, cartons, and many other containers and packaging types reclaimed for raw material processing. For example, AMP recovers a portfolio of #1-#7 plastics in a variety of different form factors, colors, and opacities with high precision and purity. Polyethylene terephthalate (PET) and high-density polyethylene (HDPE) together account for a majority of recycled plastic demand, with growing interest in polypropylene (PP)—a highly recyclable polymer with high demand in food-safe applications and flexibility to accommodate packaging in a variety of shapes and sizes. The ability to precisely separate different plastics and other recyclables with AI-driven sorting is helping recyclers meet the soaring need for sufficient quantities of high-quality recycled content from brands and packaging producers.
“We’re excited to expand our relationship with AMP, We’re impressed by the reliability of the robotics systems and the quality of the end product. We look forward to our continued partnership with AMP as we advance our sustainability initiatives.”
-Dan Kurtz, director of recycling for Waste Connections.
About AMP Robotics® Corp-
AMP Robotics is modernizing the world’s recycling infrastructure by applying AI and automation to increase recycling rates and economically recover recyclables reclaimed as raw materials for the global supply chain. The AMP Cortex™ high-speed robotics system automates the identification and sorting of recyclables from mixed material streams. The AMP Neuron™ AI platform continuously trains itself by recognizing different colors, textures, shapes, sizes, patterns, and even brand labels to identify materials and their recyclability. Neuron then guides robots to pick and place the material to be recycled. Designed to run 24/7, all of this happens at superhuman speed with extremely high accuracy. AMP Clarity™ provides data and material characterization on what recyclables are captured and missed, helping recycling businesses and producers maximize recovery. With deployments across North America, Asia, and Europe, AMP’s technology recovers recyclables from municipal collection, precious commodities from electronic scrap, high-value materials from construction and demolition debris, and valuable feedstocks from organic material.
About Waste Connections-
Waste Connections is an integrated solid waste services company that provides non-hazardous waste collection, transfer and disposal services, along with resource recovery primarily through recycling and renewable fuels generation. Waste Connections serves more than eight million residential, commercial, and industrial customers in mostly exclusive and secondary markets across 44 states in the U.S. and six provinces in Canada. Waste Connections also provides non-hazardous oilfield waste treatment, recovery, and disposal services in several basins across the U.S., as well as intermodal services for the movement of cargo and solid waste containers in the Pacific Northwest. Waste Connections views its Environmental, Social and Governance (“ESG”) efforts as integral to its business, with initiatives consistent with its objective of long-term value creation. The company’s long-term, aspirational ESG targets include the expansion of resource recovery through recyclable commodities.