December 5, 2023
On November 29, I received a request from one of the 54 companies that CEM Capital Event Management had presented to investors on June 17 in Montreal. This wasn’t one of the 18 companies I interviewed at the time. Still, the call was from Dubai U.A.E., the company had just started trading in February, and it was a family-operated business that was promising to “Do for industry what Amazon did for retail.” Why not support CEM, I thought, and figuring they were worth 30 minutes of my time, I took the Zoom call.
This call from the Hemmerich family was interesting. The father, Harold, is the Chair and CEO. The sons, Steele and Dain, are President and COO, respectively. Harold has a background in global mining and is probably somebody I have met in the past 40 years.
After the call terminated, I turned to their website, which I found in dire need of its own construction. But with the spotty information on the site, I have been able to create the following write-up, which makes some sense to me but may not be entirely accurate.
The Company
Interfield Global Software Inc., a Canadian company incorporated on May 13, 2005, is a pioneer in addressing the data management challenges faced by industries such as Oil & Gas and Mining. The company, publicly listed on the NEO Exchange Inc. (NEO: IFSS), operates in Dubai, U.A.E, through its wholly owned subsidiary, Interfield Software Solutions LLC.
A Global Reach
Interfield Global Software Inc. services various industrial segments worldwide, including oil and gas, mining, and renewables. The company’s global reach and diverse clientele underscore its commitment to providing top-notch data management solutions across different sectors.
E-commerce Division: Equipment Hound
The E-commerce division’s flagship product, Equipment Hound, is an industrial equipment marketplace that connects buyers and suppliers globally. It manages a catalog of equipment from various suppliers and provides procurement solutions for buyers, thereby streamlining the equipment acquisition process and reducing operational inefficiencies.
Software as a Service Division: Data Management Solutions
The Software as a Service division offers a suite of Data Management Software that allows companies to digitize their reporting processes, streamline their operations, and generate customized management reports. This includes the ToolSuite platform, which digitizes field tickets and job reports, and MineSuite, which provides a consolidated view of all mining activities, reports, and financial information. These tools enable businesses to make data-driven decisions, enhancing operational efficiency and productivity.
ESG Reporting Solutions
Interfield Global also offers Environmental, Social, and Governance (ESG) reporting solutions. These solutions automate and centralize data collection and tracking, ensure data quality, create reports based on the latest standards, track sustainability performance, and facilitate stakeholder engagement. With these solutions, Interfield Global helps businesses align their operations with sustainable practices and meet their ESG goals.
Apollo Intelligent Analytics Platform
In addition to the services already mentioned, Interfield Global Software Inc. also offers an AI-machine learning operational platform named Apollo Intelligent Analytics Platform. This platform organizes and interoperates all available data sets provided by the customer. Its unique modular structure supports various modules and sub-modules that address different applications.
Apollo is a modular intelligent platform that organizes operations according to economics. It offers several features, including:
- Process Automation: Companies can automate previously manual processes by digitizing and connecting to multiple Data Tags.
- Predictive Maintenance: Provides a digital overview of in-service equipment that streamlines maintenance schedules and optimizes equipment operation.
- Machine Learning: Collates all your data into a centralized platform and applies a proprietary algorithmic process that enhances all business processes from Production, Logistics, and Employee efficiency.
- Centralized KPIs: Companies can correlate Data Sets such as temperature, flow rates, and geological data provided by fiber optic cables.
Tailor-Made Software Solutions
Interfield Global also has a team of software developers that can tailor-make a bespoke software solution for clients. This comprehensive suite of tools and services positions Interfield Global Software Inc. as an industrial data management and analytics leader.
In conclusion, Interfield Global Software Inc. claims to be at the forefront of revolutionizing industrial data management. The company offers to empower large industrial businesses to harness data’s power, drive operational efficiency, and achieve sustainable growth through its innovative solutions and services.
That apparently is the company’s online pitch, not mine.
In the Zoom call, I learned that EquipmentHound service in the E-commerce division has a $300 million inventory list of large industrial products they can sell or lease at a 5% profit. In 2024, they hope to increase this list by 65-70%, but the Hemmerichs claim they could be profitable from the $300 million list.
For example, a major mining company may urgently need a particular type of drill rig. If Interfield has it in inventory, they can have it shipped anywhere worldwide on quick notice.
After remotely located capital-intensive projects are completed, a lot of machinery and equipment may sit idle for years. There is no quick way for companies to sell or lease it or for companies in need to source it quickly. Knowing nothing of the industry, the Interfield solution seems plausible.
The company told me they hope to operate out of 50 economic zones worldwide, which I guess is an opportunity for specialized sales agents to be in contact to fill those requirements.
They are targeting the Oil and Gas, Mining, Transport, Heavy Machinery, Marine, Power, and Renewables segments with a market opportunity of over $500 billion.
Situated in the Middle East region that holds 60% of the world’s hydrocarbons and is logistically connected to Africa, it holds 40% of the battery metals needed for energy transition.
The company is expanding rapidly and has recently signed some blue-chip clients, including Dubai Petroleum, Borr Drilling, Crescent Petroleum, Luca Mining, Expro, Verditek Solar, and Lamprell.
The stock chart doesn’t look promising, but hey, at one time, neither did Amazon’s.
Presently, the market cap is C$22 million.
I have not discussed this write-up with the Hemmerich family, so I’ll probably receive a call when they learn of it. I also hold no shares or other financial interests and presently have no plans to do so. This is just a story that caught my attention, and as I told Harold Hemmerich, I love to see entrepreneurs start and grow businesses with global aspirations.
Amazon might be a bridge too far, but maybe not.
