Key Risks

·      Privacy and data collection risk 

·      Competition 

·      Single customer Digital Twins (Woodside)

·      Recent IPO with no track record of performance in the public markets

Main bear case for Remsense is its Virtual Plant concept. It is competing against much big and better global technology companies - Siemens, IBM, Microsoft and General Electric. Current it only has one customer, Woodside for its Virtual plant concept. For me it's a business that I find hard to see how it will be able scale and hit any inflection point in near future.

The following digram from RemSense Prospectus explains concept of Digital Twin or Virtual Plant

Recent IPO. RemSense is a company that has been operating since 2012 (originally trading as Altitude Imaging). 

RemSense operates as three business units: 

·      Engineering and Innovation

·      Data Capture and Insights

·      Virtual Plant

RemSense offers virtual plant solution or Digitial Twin. Virtual Plant is a digital twin built from a series of scanned digital images of an entire facility that allows the user to undertake a virtual ‘walk through’ of the facility in high detail from a location that is removed from the physical facility.

Currently RemSense Virtual Plant only has one customer Woodside.