CEMEX invests in automated concrete monitoring technology
May 4, 2022
- CEMEX invests in Chilean startup ObraLink with innovative technology to accelerate the digital transformation of the construction industry.
- CEMEX gains access to a fully automated solution that reduces construction times and costs through a comprehensive concrete pouring and hardening monitoring process.
CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that CEMEX Ventures, its corporate venture capital and open innovation unit, is investing in ObraLink, a startup that has developed a forecasting technology that monitors concrete during its pouring and hardening to predict its strength in real time during the construction process.
ObraLink, founded in Chile, developed a technology that monitors the hardening process of concrete at the jobsite. Through advanced thermal imaging, this technology can monitor up to three times more measurement points than similar sensors at a fraction of the cost. With exact and real-time information of the concrete hardening process, builders can remove the formwork, or molds, at precisely the right moment. This can reduce a project’s structural costs by 15% and decrease formwork removal times by 40%.
The advanced imaging capabilities of this solution, also reduces time, as manually monitoring this process is more time consuming. The easy-to-use integrated platform can also automate daily tasks and support workers' performance with little human intervention and allows its customers to include additional features via APIs.
Alongside CEMEX Go and Arkik, ObraLink allows for an optimized construction value chain with better visibility, decision-making, and enhanced quality control for industry professionals.
After a successful trial, CEMEX tested ObraLink with a group of clients in Mexico during an initial launch phase. Subsequently, the companies look to expand their services in the country while studying opportunities to grow into other markets in the U.S. and Latin America.
"As pioneers in the construction industry's digital transformation, our mission is to seek innovative solutions that help boost productivity and efficiency. ObraLink's scalable technology is a perfect fit with CEMEX's service offering, as it digitalizes a currently manual process, improving both the efficiency of execution and completion time of a project. We look forward to working with them to further scale and develop the solution so we can deliver a superior customer experience enabled by digital technologies," said Gonzalo Galindo, Head of CEMEX Ventures.
ObraLink was named one of the Top 50 ConTech Startups of 2021 in CEMEX Ventures' annual list and was declared a winner in the same year's Construction Startup Competition.
Founded in 2019, between Chile and the UK, by Emiliano Pinto and Juan Carlos Fernández, two young Chilean entrepreneurs with extensive knowledge in the construction industry and business administration areas. It is changing how construction projects are monitored and executed. It has had a very good reception in the construction market, attracted mainly by well-known global and Chilean construction companies, having 100% repurchase of these services in successive projects. For more information about ObraLink, please visit www.obralink.com
About CEMEX Ventures
Launched in 2017, CEMEX Ventures focuses on helping to solve the main challenges and capitalize on the opportunity areas in the construction ecosystem through sustainable solutions. CEMEX Ventures has created an open and collaborative platform to lead the revolution of the construction industry by engaging startups, entrepreneurs, universities, and other relevant actors to tackle the industry's toughest challenges and shape tomorrow's value ecosystem. For more information about CEMEX Ventures, please visit www.cemexventures.com
CEMEX (NYSE: CX) is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies. For more information, please visit: www.cemex.com
CEMEX assumes no obligation to update or correct the information contained in this press release. This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect CEMEX’s current expectations and projections about future events based on CEMEX’s knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX’s current plans based on such facts and circumstances. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CEMEX’s expectations. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release.
Analyst and Investor Relations
Alfredo Garza / Fabián Orta