Expands MSAI's geographic presence and expected to accelerate both companies' growth in enterprise solutions
HOUSTON, TX / ACCESSWIRE / October 30, 2024 / MultiSensor AI Holdings, Inc. (NASDAQ:MSAI), a leader in the emerging AI-driven condition-based maintenance industry, today announced that it has entered into a formal strategic channel partner relationship with IndustrAI Sàrl (Luxembourg). IndustrAI focuses on developing and implementing sensor-based predictive maintenance solutions, particularly for industrial clients across the European Union.
MSAI and IndustrAI are working together closely to roll out MSAI's multi-sensor solution to a wide range of European customers. IndustrAI's base of industrial clients, and deep expertise with a range of industrial sensors (e.g., vibration monitors, thermal cameras, acoustic imagers) make it an ideal partner for providing next-generation condition-based monitoring and predictive-maintenance solutions. IndustrAI also has long-standing European relationships with MSAI's warehouse and logistics launch customer and with Denali Advanced Integration, another of MSAI's strategic channel partners. These relationships will help MSAI scale faster and more efficiently with existing customers, provide better customer service, and expand into new industrial customers over time. In the medium term MSAI and IndustrAI plan to replicate this collaborative model in the Asia Pacific and Latin America markets.
David Gow, MSAI's Executive Chairman, said: "MSAI is already working extensively in the EU and UK, and IndustrAI is an ideal partner to ramp up our business in these geographies. The depth of IndustrAI's expertise across multiple sensor modalities, particularly vibration monitors, also strengthens MSAI's technical-sale and implementation capabilities. Additionally, we are looking forward to the future expansion opportunities with IndustrAI beyond the European Union."
Marouane Lahmidi, IndustrAI's Managing Director, said: "We are excited to formalize our partnership with MSAI. We know that there are many current and potential European customers who would benefit from implementing MSAI's solutions. Combining IndustrAI's local presence and long-standing relationships with MSAI's best-in-class solutions is a natural fit. We look forward to working with our colleagues from MSAI in the months and years to come."
The strategic channel partnership arrangement goes into effect immediately and is expected to accelerate MSAI's European commercial activity significantly starting in the fourth quarter of fiscal 2024.
Forward Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words such as "will," "believe," "anticipate," "expect," "estimate," "intend," "plan," or their negatives or variations of these words, or similar expressions. All statements contained in this press release that do not strictly relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the expected benefits of MSAI's channel partner relationship with IndustrAI and the timing for realizing such benefits. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond MSAI's control. In addition, these forward-looking statements reflect MSAI's current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, the risk that MSAI and its collaborators are unable to successfully develop and commercialize MSAI's products or services, or experience significant delays in doing so; the risk that MSAI may never achieve or sustain profitability; the risk that MSAI will need to raise additional capital to execute its business plan, which may not be available on acceptable terms or at all; the risk that MSAI experiences difficulties in managing its expected growth and expanding operations; the risk that third party suppliers and manufacturers are not able to fully and timely meet their obligations; the risk that MSAI is unable to secure or protect its intellectual property; and other risks and uncertainties discussed under the "Risk Factors" section of MSAI's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on August 14, 2024, and MSAI's other periodic filings with the SEC. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. Any forward-looking statement made in this press release is based only on information currently available and speaks only as of the date on which it is made. Except as required by applicable law, MSAI expressly disclaims any obligations to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
About MultiSensor AI (MSAI)
MultiSensor AI's SmartIR is an AWS-powered software platform that leverages MSAI-built thermal imaging, acoustic imaging, and vibration sensing devices for condition-based monitoring of critical mechanical and electrical assets and manufactured outputs. MSAI's solutions are deployed by organizations to protect critical assets across a wide range of industries including data centers, distribution & logistics, manufacturing, utilities, and oil & gas. MSAI's sensing solutions are built around high-resolution thermal imaging along with visible, acoustic, vibration and laser spectroscopy imagers and sensors. This full-stack solution measures heat, sound, and gas in the surrounding environment, helping companies gain insight to efficiently manage their most important assets and infrastructure. MSAI designs and manufactures digital thermal sensing solution platforms with edge and cloud-based software.
IndustrAI is a Luxembourg-based consulting firm specializing in empowering industrial companies to achieve full potential within Industry 4.0. Leveraging multiple years of combined Industrial, IT and AI/ML expertise, IndustrAI aids organizations in their digital transformation journey by focusing on predictive and prescriptive maintenance and process strategies powered by AI and ML technologies. Through scalable and cost-effective cloud solutions, IndustrAI provides end-to-end support - from asset connectivity and data collection to decision automation and visualization - ensuring that organizations can optimize processes, reduce costs, and enhance operational efficiency.
Our services include piloting and testing AI/ML solutions in cloud environments, on-site implementation across global sites, and long-term program development, all designed to fit seamlessly with existing infrastructure. By creating actionable insights from data and enabling automated decision-making, IndustrAI supports clients in building robust, future-ready industrial ecosystems. With a commitment to excellence and a track record of success, including substantial ROI achievements for various sectors, we are dedicated to guiding industries through meaningful, sustainable innovation.
