Industrial News

TechSee , which describes itself as an “intelligent visual assistance” company, today closed a $30 million investment round. A spokesperson for the startup says the capital injection will be used to enter new markets and verticals while expanding TechSee’s product offerings and capabilities. The augmented reality market is estimated to grow from $10.7 billion in 2019 to $72.7 billion by 2024, according to a recent Markets and Markets report . At least a portion of that growth has been driven by field service applications.

U.S. buyout group Carlyle Group Inc CG.O is nearing an agreement to acquire Siemens AG’s mechanical drive arm Flender, for about for about 2 billion euros. Siemens and Carlyle are finalizing terms of the deal that could be announced as early as this week, the report said.

The global aerospace industry has endured its worst quarter ever with record low orders for new aircraft and 12,000 UK jobs already lost or at risk because of the collapse in travel caused by the coronavirus pandemic

The first 3D printed residential building in Germany , built by PERI GmbH , and designed by...

The TRUMPF Group and Munich Re Group are entering into a strategic partnership for a “pay-per-part” business model, which enables customers to use a full-service laser machine without having to buy or lease any equipment. Instead, customers pay a previously agreed price for each cut sheet metal part – in other words, they only pay for what they need

SEW Eurodrive has launched two new rapid-delivery Assemble-To-Order services for heavy-duty gear units providing delivery of industrial gear units within five working days, or as fast as just one working day in the case of emergencies. 

With capacity for 7,000 vehicles, the 650 foot-long vessel is a similar size to conventional car carriers, but it will look radically different. The ship’s hull is topped by five telescopic “wing sails,” each 260 feet tall. Capable of rotating 360 degrees without touching each other, the sails can be retracted to 195 feet in order to clear bridges or withstand rough weather.

bp Chargemaster has been awarded a contract worth up to £21 million by Police Scotland to supply electric vehicle (EV) charging infrastructure across its estates, in the largest ever deal of its kind in the UK. The project will be delivered in partnership with WGM Engineering, one of Scotland’s leading engineering companies.

Oil and Gas industry sees further cuts as US oil and gas company ExxonMobil announced it would slash 1,600 jobs in Europe, more than 11% of its workforce in the region, as it struggles with the hit from the coronavirus downturn.

DNV GL and Bluewater are co-operating on a pilot project using hybrid digital twin technology to predict and analyze fatigue in the hull of an FPSO in the North Sea. The objective is to validate and quantify the benefits of creating a virtual replica of the FPSO in order to optimize the vessel’s structural safety and support risk-based inspection (RBI).

Targeting China’s vast maintenance market for the more than seven million elevators currently in use, Hitachi Elevator showcased its comprehensive and professional IoT-based elevator service solutions covering maintenance, refurbishing, renovation and installation.

Following Alpha Laval’s offer, Valmet has made a counter-proposal for the takeover of Finnish valves producer Neles. For now, Neles has recommended to its shareholders to accept Alfa Laval’s offer.

By cutting out human operators, Caterpillar’s autonomous driving technology, which can be bolted on to existing machines, is helping the U.S. heavy equipment maker mitigate the heavy impact of the coronavirus crisis on sales of its traditional workhorses

According to Elon Musk’s Twitter account, a limited version of the “Full Self-Driving” upgrade of its Autopilot software will make its way to owners starting next Tuesday. According to Musk, Tesla hd to do “a fundamental rewrite of the entire Autopilot software stack”…”The sophistication of the neural net of the car and the overall logic of the car is improved dramatically.”