CORE provides greater insight into the material performance and viability of concrete supplied, allowing the site team to validate its quality and build strong relationships throughout the supply chain. The precision data also allows site teams to co-ordinate and collaborate effectively about when tasks can - and should - be undertaken.
Currently money can be lost on a project through over-pour or batch returns. Project managers might also be paying for labour waiting while the concrete is setting, or conversely through delays while waiting for teams to become available. By getting real-time alerts straight to their phone the moment slabs are ready to strike, instead of waiting for cube results, project managers can better plan resource and materials, keeping costs on track. Scaled up, Converge estimates that this increased productivity could save as much as £136m annually by 2025.
CORE reduces concrete use in two ways. Firstly the historic performance data makes it easy to optimises the mix design, and so the improved mix decreases the number of batch returns. Secondly, the precision data reduces risk of over-pour. Converge is tracking carbon emission reductions over the course of the project.
During lockdown, workers health and exposure to Covid-19 has been mitigated through the ability to monitor capabilities remotely, through the CORE mobile app.
Converge secured a £3.9m venture capital investment following the Transforming Construction Challenge grant – using it to grow the team by 50%.
CORE has already shown demonstrable, significant gains to site productivity by predicting concrete curing time, eliminating concrete batch returns and optimising construction schedules. The technology will shave days off complex sections of the program and provide site teams confidence to take actions accurately, appropriately and safely. This will be a key metric to measure going forward. CORE typically saves 4 – 6 hours per concrete pour which would equate to 60-100,000 hours on a typical construction project.
By providing remote monitoring capabilities through the CORE mobile app, teams can carry out site checks and monitor the stage of the concrete from the office or while working from home. This has an impact on safety as it reduces the number of people who need to be on site at any one time.
CORE typically saves 4 – 6 hours per concrete pour which would equate to 60-100,000 hours on a typical construction project. The precise live sensor data gives construction teams access to real-time, in-situ concrete strength data, and so tensioning can begin as soon as minimum strengths have been met, with not a moment lost. Constructors can plan with confidence and know precisely when to act, always having the right teams in the right place, at the right time.
CORE offers significant UK ROI (1,280%) with the potential for overseas trade. UK-based, Converge currently estimates there is a £1.8m global opportunity that could grow to as much as £3.5bn by 2025. For the company itself, Converge estimates it will grow to have a 1.4% global market share with a £48m global turnover by 2025.