How RemSense’s Virtualplant Is Transforming Asset Management for Chevron and Beyond
RemSense Technologies closed FY2025 with a positive EBITDA and expanding virtualplant platform usage among major clients, setting the stage for significant growth in FY2026. The company’s strategic hires and new contracts highlight its rising footprint in industrial digital transformation.
- Unaudited underlying cash EBITDA of $594k for FY2025
- Major project delivery for Chevron and renewed Triangle Energy subscription
- Appointment of Commercial Director Leon Morgan and CTO Rory O’Connor
- Advancement in cybersecurity certifications and Defence sector engagement
- Strong sales pipeline with high-value contracts nearing conversion
Strong Financial Foundation and Operational Momentum
RemSense Technologies Limited (ASX – REM) reported a robust finish to FY2025, posting an unaudited underlying cash EBITDA of approximately $594,000. This result reflects disciplined execution and operational resilience amid a challenging market environment. Despite a net operating cash outflow of $366,000 in the June quarter, the company is optimistic about its near-term cash flow outlook, supported by a growing pipeline of commercial opportunities.
Virtualplant Platform Gains Traction with Industry Leaders
The company’s flagship product, virtualplant, a high-resolution 3D photogrammetry asset visualization platform, continues to gain momentum. Notably, RemSense successfully delivered a major immersive 3D visualization training solution for Chevron’s LNG processing module, collaborating with Sentient Computing. This project underscores virtualplant’s capability to enhance operational safety and training through photorealistic digital twins.
Triangle Energy’s renewal of its virtualplant subscription further validates the platform’s value proposition. Additionally, ongoing drone-enabled data acquisition projects with the University of Western Australia and Main Roads Western Australia demonstrate RemSense’s expanding footprint in diverse industrial applications.
Strategic Leadership Appointments Bolster Growth Ambitions
RemSense strengthened its leadership team with the appointment of Leon Morgan as Commercial Director, bringing over two decades of sales and business development expertise in technology-driven markets. His role is pivotal in accelerating revenue growth and capitalizing on the company’s expanding sales pipeline across energy, mining, and industrial sectors.
Complementing this, the promotion of Rory O’Connor to Chief Technical Officer reflects a commitment to innovation and technical excellence. O’Connor’s extensive experience in AI, photogrammetry, and digital visualization positions RemSense to maintain its competitive edge in the evolving digital twin market.
Expanding Market Reach and Compliance Credentials
RemSense is actively pursuing strategic partnerships and international expansion, particularly targeting the United States and African markets. The company is progressing discussions with major clients such as Shell and Newmont, aiming to deploy virtualplant for global asset inspection and remote collaboration.
On the compliance front, RemSense achieved Basic Aviation Risk Standard (BARS) certification, essential for resource sector partnerships, and is advancing towards ISO 27001 and SOC 2 cybersecurity certifications. These efforts reinforce the company’s commitment to operational safety, data security, and regulatory adherence, critical for engagements in sensitive sectors including Defence.
Outlook and Strategic Priorities
Looking ahead, RemSense’s Board expresses confidence in the company’s trajectory, citing a robust sales pipeline and the potential for significant revenue uplift. The company is focused on converting high-value contracts, scaling through reseller networks, and continuously innovating its virtualplant platform to meet evolving client needs.
While cash flow remains a near-term challenge, RemSense’s strategic initiatives and disciplined cost management provide a solid foundation for sustainable growth into FY2026.
Bottom Line?
RemSense’s strategic momentum and expanding client base position it well for growth, but execution on key contracts will be critical to sustain financial health.
Questions in the middle?
- When will the high-value contracts under negotiation convert into revenue?
- How will RemSense manage cash flow pressures while scaling operations internationally?
- What impact will new cybersecurity certifications have on client acquisition in sensitive sectors?
