Empired and Coreworx Enter Partnership Agreement
20th May 2010
Empired today announced its exclusive partnership with leading global supplier of project information and project cost control systems to the large capital projects sector Coreworx Inc. (“Coreworx”), a subsidiary of Acorn Energy, Inc. (“Acorn”) (NASDAQ: ACFN). Coreworx is used globally by energy and resources sector leaders to manage major capital project execution risk.
Coreworx project information and project cost control software is used for managing complex engineering projects, typically characterised by interdependent activities being executed across multiple suppliers and engineering houses involving multiple geographies.
Empired’s expertise and presence in the region, coupled with Coreworx' ability to manage complex, globally dispersed major capital projects, will mean significant business benefits to companies looking to develop assets within Australia and South East Asia. Coreworx is already working with several customers in Australia, and sees this partnership benefitting these existing customers and future customers.
Empired will not only re-sell Coreworx’ software products, but will design overall business solutions, implement them to the customers’ requirements and provide ongoing management and support for the solution as well as provide document control services. Empired also plans to offer Coreworx products as a hosted, on-demand solution from their data centre.
The demand for such services is becoming more prevalent to address the explosion in major project activity in the resources and energy sectors in Australia and South East Asia. The current announced capital expenditure on major capital projects in Western Australia alone exceeds $175 Billion with $75 Billion already in train. The significant investments associated with these large projects underlines the importance of utilising effective project information and cost control systems such as Coreworx to identify and manage project risk, reduce cost and ensure the implementation of industry best practices.
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