ACE Sign Strategic Commercial Partnership with SRJ

SRJ Technologies Group (ASX:SRJ; “SRJ” or “the Company”) is pleased to announce a three-year Global Collaboration Agreement with Air Control Entech Limited (“ACE”).

Established and headquartered in the UK, ACE is a global specialist provider of advanced robotic inspection services to the energy sector, including unmanned aerial vehicles and remote operating vehicles. ACE has developed ‘industry-first’ technologies focused on delivering efficient and cost-effective solutions for digitisation of clients’ Asset Integrity Management, which can reduce emissions and increase safety.

The strategic partnership will allow both entities to collaborate on developing new products and services, using the latest innovative technology. This significant partnership will also leverage access to each parties’ customer base with the expectation of incremental revenues for existing products and services.

SRJ and ACE’s inter-company synergy will be another building block for SRJ’s stated strategy to build a fully integrated digital Asset Integrity Management business. This strategic direction is based on strong customer feedback signalling the accelerated move to the adoption of advanced digital platforms for analysis and visualisation of inspection data.

This world-class service will deliver value for customers, by increasing safety, reducing costs and the need for staff support, while maintaining regulatory compliance and confidence in business continuity. SRJ and ACE already have an opportunity to trial a class inspection for a Floating Production Storage and Offloading vessel in Nigeria, with proposed rollout for the entire fleet valued at AUD$15m (£8m) per annum, over a five-year class cycle. At present the inspection is a trial only.

The partnership agreement will also allow SRJ and ACE to rapidly deploy services and solutions into key global energy markets, initially targeting Australia, Pacific, and the Far East. The structuring of projects and subsequent profit allocation will be determined on a case-by-case basis on the project’s nature and input of each entity. At present, the collaboration is an agreement to work together on opportunities.

Alexander Wood, Chief Executive Officer, SRJ said:

“This strategic partnership marks a major milestone for SRJ, and we are excited to embark on this new journey with ACE.”

“ACE’s reputation for innovation, market awareness and delivery of customer value, aligns perfectly with our vision for the creation of a world-class business in digital Asset Integrity Management.”

“SRJ and ACE’s shared vision for the future of this service, as well as a strong alignment of technical skills and know-how, helped lay the foundation for this partnership.”

“The transformation to managing complex assets using digital platforms is gathering pace, driven by high demand for advanced inspection, data analytics and data visualisation technologies.”

“As a collaboration of new, fast-moving, entrepreneurial technology businesses, the partnership between SRJ and ACE will supply our customers with the tools to execute and manage this transformation.”

Kieran Hope, Founder and Chief Operating Officer, ACE said:

“Collaborating with SRJ opens the door to a world of possibilities, as our shared vision and complementary strengths undoubtedly lead to extraordinary achievements in our market expansion efforts.”

“Combining ACE’s industry-leading technologies with SRJ’s technology portfolio, I am confident that we will continue to add value to all of our customers.”

“This partnership represents an exciting chapter for both companies, and we look forward to the opportunities it will create as we venture into new territories.”