The new JV will provide wind farm operators with reduced downtime and maintenance costs, potentially saving them 30% in maintenance costs and beyond.
Castrol, one of the world’s leading lubricant brands, will bring its complementary portfolio across the sectors, to work with Romax, who will provide its proven track record of predictive maintenance solutions, independent engineering and analytics for the wind sector.
The JV, that will see Castrol taking a majority share of the business, will be hugely beneficial to both parties and existing InSight customers in allowing more investment into developing Romax InSight’s technology solutions. Along with this accelerated growth in technology advancement, Romax will also benefit from the leverage of Castrol’s geographic reach.
The JV builds on a long standing relationship between the companies who have successfully worked together developing multi-million-pound innovative R&D projects over some five years.
Importantly, Romax Technology and Romax InSight will continue to maintain their engineering independence in providing software and services solutions across all sectors. Business will remain as usual for the company and the services to their customers will continue to be located out of Romax HQ in Nottingham and regional offices.
Read our official Press Release here