A US-based start-up company has launched a service that enables machine-sharing between companies.
Asset Finance International calls the newly launched service the ‘Uber of the manufacturing equipment industry’, stating McPond launched the “machine-sharing platform to support circular economy”.
The platform is a digital peer-to-peer option through which business can rent out their idle manufacturing equipment to other businesses.
McPond is Chicago-based and offers the service US states including Ohio, Maryland, Florida, and Colorado. The platform enables business access to the equipment without the capital investment purchasing their own.
Asset Finance International describes opportunities through the platform as “giving temporary access to industrial manufacturing equipment can cut investment costs or increase production for companies, while asset owners with equipment sitting idle can earn passive income by listing their machines for rent”.
Talking to Asset Finance International, Rigved Raut Founder of McPond said: “Having had the opportunity to work in family-based manufacturing business for years, I realised that companies can make money from their idle machines. At the same time, we want to inspire companies and entrepreneurs who cannot justify or afford to invest in machinery.”
Seeing the potential growth as much as Uber’s, the company sees also a big potential in its circular economy approach. The model will see companies change to a new business model “where the life of assets is extended through greater utilisation, reuse and recycling”, the article explains.
