The cost of poor asset visibility in gas distribution

AIG Industrial Gas is a producer and distributor of industrial gases (e.g. oxygen, nitrogen, carbon dioxide, argon, and acetylene) based in Jamaica.

Such gases are used to support industries such as healthcare, manufacturing, and mining in the region.

To operate, the firm maintains several critical assets, including gas cylinders, tanks, and other equipment used to store, transport, and manage industrial gases.

Visibility into these assets is key to productivity and safety. Yet, AIG struggles to find an optimal solution:

• Manual tracking and legacy tools often result in missing or misplaced equipment.
  ⇒ Consequence: Increased operational costs due to excess inventory purchases OR Delays in gas delivery to clients due to the inability to track required assets.
• Previous solutions failed due to limited range, poor performance in metallic environments (as with AIG), and the need for extensive infrastructure.
  ⇒ Consequence: Impossible to implement.

In short, without a tool that provides a real-time, accurate view of assets, AIG exposes itself to rising replacement costs and reduced service reliability for its customers. 

Azitek’s real-time tracking solution reduces asset losses and operational costs

Moving across the Atlantic, Azitek is a Portuguese startup providing a Real-Time Location System (RTLS) to optimise operational efficiency in industrial and logistics environments. 

Its RTLS uses IoT tags (small devices attached to physical assets that transmit location and status  data)  and gateways (devices placed in the environment that receive signals from the tags and relay them to a central system).

The advantages of Azitek’s solution are many for AIG:

1. Tags are ultra-low power: 
   ⇒ Consequence: They consume very little energy, allowing their batteries to last for years without frequent replacements. 
2. The system is plug-and-play and scalable in metallic environments.
   ⇒ Consequence: The system is easy to set up and deploy in AIG’s infrastructure. 
3. Real-time asset tracking & Actionable insights for operational optimisation:
   ⇒ Consequences:
   • Reduced losses: If a gas cylinder is taken without authorisation, AIG can locate and recover it promptly, reducing replacement costs.
   • Enhanced safety: By continuously monitoring the location of personnel and equipment, AIG enables rapid response in emergencies.

How EU-LAC supports the adoption of Azitek’s solution at AIG and beyond

The EU-LAC Digital Accelerator not only facilitated the partnership but also brought in various acceleration services to support AIG’s adoption of Azitek’s solution:

• PoC Design & Prototyping

EU-LAC guided in developing a clear strategy for the POC. This ensured the project is focused on testing the most critical features and goals for AIG, and it includes a roadmap that guides the testing and evaluation process effectively.

• Internationalisation strategy & Soft landing

The accelerator facilitated connections for Azitek with potential partners and customers in the Caribbean and in Latin America:

– Industry customers (like AIG): Companies in sectors like manufacturing, logistics, energy, and industrial gas.
– Technology partners that can help Azitek enhance and integrate its solution into wider industrial systems.
– Distributors and resellers.

• Access to funding

This service helped Azitek by evaluating which funding sources best fit its goals for growing its business in Latin America.

EU-LAC also introduced a “design thinking” method to encourage the exploration of multiple options through quick testing and feedback, focusing on understanding funders’ needs, and adapting the plan based on real insights. 

10% increase in operational productivity: a new industry standard and a reference for future customers

AIG (Corporate)

Azitek (Startup)

Reduce asset losses by at least 20% and improve tracking accuracy to minimise downtime caused by misplaced equipment. Increase operational productivity by 10%, enabling staff to focus on more valuable tasks (instead of searching and managing assets manually). Set a new industry standard in asset management, with potential to expand the solution across other business areas, enhancing safety and operational efficiency.

Achieve a measurable improvement in asset management at AIG, targeting at least a 20% reduction in asset loss and a 10% increase in asset utilisation. Leverage the AIG deployment as a reference to attract new clients across the Caribbean region. Expand presence in Latin America by securing similar partnerships and projects in at least three new industries.