The recently signed capital participation agreement between JGC Corporation and MODS for 40% allocation of shares, heralds a game-changing partnership in industrial software supply to the energy sector.
MODS is already driving digital transformation in the energy sector with innovative industrial software applications that help Operators and EPC's plan, execute, and handovers in brownfield projects. This investment also signifies the launch of MODS Origin for new build projects.
1 Billion yen investment in MODS
Jointly developed with JGC Corporation to digitalize the management of construction phases for EPC projects, firmly pushes our Industry 4.0 agenda. This new phase in simplified and accurate reporting software will connect the remote workforce with safe and secure mobile technology specifically for Greenfield projects. Organizational benefits include improved processes, productivity, and enhanced visibility into every step of project execution.
Jon Bell, CEO of MODS, said: "The investment from JGC in MODS is a significant milestone in our journey. This will help us serve existing customers better and open the opportunities to accelerate our software solutions delivery to the market, enabling their digital journey. This agreement will allow our customers to eliminate bottleneck processes, and accelerate their projects' economic viability. We are incredibly proud to be aligning with JGC, who are investing in the next chapter of digital transformation with MODS technology. JGC's investment in MODS extends our ability to deliver much-needed solutions to enable cost-cutting benefits to our customers."
For JGC, using the Advanced Work Packaging (AWP) module based on the MODS overarching software means accelerating Digital transformation (DX) as part of their 'IT Grand Plan 2030', which was formulated in 2018. The move essentially aims to improve efficiencies in project execution and accelerate the use of DX to benefit the energy industry.
The close to 1 Billion yen investment in MODS will enhance MODS offering to all EPC's looking to improve project execution competitiveness. MODS will continue developing and strengthening the existing solution for building, expanding, maintaining, and operating facilities, with the insights direct from engineers to engineers to provide fit for purpose solutions.