04 Aug 2022

Acumen and Fabrik Announce Strategic Partnership Agreement

Dublin - 04-08-2022 – Acumen Aviation (“Acumen”), a leading global Asset Management Company and Augtual Reality Labs Private Limited, trading as Fabrik (“Fabrik”), are excited to announce a new Strategic Partnership Agreement. Acumen and Fabrik have formed a strategic partnership to bring 3D digital twin technology to the aviation Industry.  Acumen, through its Digital Success Advisory (DSA) will execute digital transformation projects for aviation industry players seeking to harness the power of 3D digital twin within their organisational processes.  This will be achieved through the provision of Acumen’s key functional and technology expertise within the aviation domain.  Acumen will be relied upon to provide business process understanding, sector knowledge, together with its implementation support capabilities, to aid Fabrik in advancing the exposure of 3D digital twin technology across the sector. Fabrik will support Acumen’s in-house ERP platform SPARTA in bringing 3D digital twin to its Projects Management module, where the existing 2D imagery of aircraft will be replaced with more life-like 3D digital twin imagery. This will enhance the quality of the inspection reports, allowing inspectors and customers to disseminate information about the aircraft’s physical condition as observed during the inspection with higher accuracy. Acumen’s Chief Technical Officer – Digital, Ameya Gore stated “Acumen is excited to have entered this realm of 3D Digital Twin technology with a capable and reliable partner in Fabrik. We aim to catapult SPARTA capabilities for aircraft inspections to the next level by integrating this innovative technology to enhance the quality, accuracy as well as reliability of the information made available to our customers through SPARTA.” Fabrik Co-founder and Chief Business Officer, Srinivas R. stated “MRO, operators and lessors require a system that provides Affordable, Accessible and Easy-to-Use digital platforms to inspect, maintain and manage aircraft.  SPARTA and FABRIK have come together to address this requirement by creating a digital twin in an integrated metaverse, thereby simplifying access to information about the aircraft's current health, repair schedule, and maintenance history.” About Acumen Aviation Acumen is an aircraft asset lease manager with a global platform, established in 2009, headquartered in Ireland with offices in India, China and the USA.  Acumen’s management team has over 300 years of cumulative experience with a permanent staff of over 90 people. Acumen offers a full range of services throughout the lifecycle of the aircraft including aircraft sourcing, pre-purchase inspections (physical and records), project management, lease management, re-marketing, fleet audits, aircraft trading, powerplant management, aircraft valuations and CAMO services. Acumen embraces new technologies and has a dedicated digital business arm providing market driven products and services to the sector.  This includes Acumen’s state-of-the-art asset management ERP platform, SPARTA, as well as its digital success advisory (DSA), offering specific software development and design solutions to help clients meet the challenges and requirements of the digital age.  Its customers include aircraft lessors, airlines, banks, private equity and investors. About Fabrik Bengaluru based Augtual Reality Labs Private Limited trading as Fabrik, was established in 2018 is a collaborative, cloud hosted Augmented and Virtual Reality platform for enterprises, pioneering digital transformation in the industry metaverse developing immense experiences for automobile, aerospace, and energy sectors, through intelligent asset management, reliability, predictive maintenance in a single immersive platform. Fabrik website: www.fabrik.space   For more information please contact: Acumen Press Office: America Location: Florida, USA Phone: +1 954 999 8060 sean.oconnor@acumen.aero   Acumen Press Office: Europe Location: Dublin, Ireland Phone: +353 86 2424777 martin.corcoran@acumen.aero   Acumen Press Office: China Location: Beijing, China Phone: +861062434080 livia.liu@acumen.aero   Acumen Press Office: South Asia Location: Bangalore, India Phone : +91 8800701356 ankit.harbhajanka@acumen.aero   Acumen Press Office: Central Asia Location: GIFT City, India Phone:  +91 9004689225 kumar.narayanaswami@acumen.aero   Disclaimer: Cautionary Note Regarding Forward-Looking Statements; The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements, which are forward-looking by reason of context, the words "may", "will", "should", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Acumen Aviation Europe Ltd core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. The company assumes no obligation to update any forward-looking statement.