SmallCaps: Simble Solutions secures first purchase order for its energy saving platform
Newly-listed technology company Simble Solutions (ASX: SIS) has received the first material purchase order in Australia for its innovative hardware and software solution designed for businesses to visualise, control and monetise their energy systems.
The Simble Energy Platform, or ‘SimbleSense’, is an integrated, real-time solution which enables small and medium enterprises to save on their energy consumption and bills via remote access to the platform via any device.
SimbleSense has been described as a scalable, flexible and user-friendly solution which can be deployed in a wide range of business settings.
The purchase order, valued at A$480,000, paves the way for the platform to make its way into the Australian market.
The company said over 10% of the total order has already been scheduled for installation prior to any sales and marketing activities.
SimbleSense is currently being marketed in the United Kingdom and Australia.
In 2017 the product saw a major upgrade with the introduction of the ‘Internet of Things’ capabilities, bringing two-way smart control functionality and enabling customers to “remotely action and automate energy savings opportunities at the circuit and plug level”.
Multiple trials with prospective customers and channel partners, including Optus, have also been conducted to validate the platform’s functionality and commercial appeal.
Optus entered into a channel partnership agreement earlier this year to market SimbleSense to its business and government customer bases.
A growing global market
According to Simble, the global market for energy management systems is projected to grow at double-digit rates over the coming years as government legislation accelerates demand.
Policies are aimed at reducing the energy consumption of businesses and households, with particular emphasis on building energy efficiency.
“It is Simble’s mission to enable and empower these businesses to operate more sustainably by providing indepth analytics with our proprietary technology,” the company said.
“Our key focus is to convert our large opportunity pipeline into revenue-generating contracts in this fast-growing sector.”