Australian technology company Commit Works has announced today that it has secured a strategic investment from Jolimont Global Mining Systems which is to accelerate its growth both in Australia and on an international scale.
Commit Works was founded six years ago by Alex Retzlaff and Paul Moynag. The company has since pioneered a suite of innovations that help operations coordinate and manage frontline work. The company creates frontline work management, short interval control and visual management software that are delivering significant productivity and safety results for 60% of the world’s largest miners.
Jolimont Capital is a private equity group funded by Resource Capital Fund (RCF) that invests in high-growth mining equipment, technology and services (METS) companies.
Commit Works CEO Paul Moynagh said the investment would enable Commit Works to expand their global reach.Moynagh said: “We are thrilled to receive this significant backing from Jolimont, the world’s best mining technology venture capital fund – it will greatly accelerate our growth in Australia, the Americas, Europe and Africa. Our products reliably deliver rapid and significant improvements to operations (in many cases more than 30% increase in production results) – we look forward to sharing our software and these kinds of results globally.”
“At Commit Works, we make software that gets everyone on site working together and pulling in the same direction. Fewzion creates a fully integrated frontline shift plan by bringing together mine planning, maintenance, services and ERP data to ensure all work on site is properly coordinated. Shift plans are instantly available to frontline teams through our app and large touchscreens to ensure everyone is on the same page. Supervisors and crew can perform short interval control throughout the shift, write their shift reports and contribute to daily review meetings all in the same system. This kind of integrated thinking and coordination has helped many mining operations quickly produce large, sustainable production and safety improvements,” Moynagh added.
Commit Works also welcomes Lyle Bruce, partner at Jolimont and former Managing Director at GroundProbe to its board, where he will join fellow investor Andy Greig – former President of Bechtel’s Mining & Metals Global Business and founder of Brisbane startup incubator, ACAC Innovation.
“A focus for us is innovative technology and a customer-oriented team,” Bruce said.
“Australia leads the world in mining innovation and Commit Works is another example of an emerging Australian company bringing world’s best technology to global mining operations. Jolimont is proud to support the Commit Works team.”
Investment Manager at Jolimont, Michael Sterry said precise shift planning was a gap in the market that Commit Works addresses. “The people that make a difference to productivity and safety are closest to operations and production. They want to know how they are performing shift-by-shift. You can’t get closer than real-time performance tracking at the coalface,” he said.
Read the article online at: https://www.globalminingreview.com/finance-business/06082018/commit-works-secures-investment-to-aid-expansion-on-a-global-scale/