Based in Australia, CCP Technologies Limited (ASX: CT1) offers IoT technology solutions and helps its customers by providing hardware, firmware and software development services. The company has a specialisation in the Internet of Things (IoT) product development and product management.
The company announced today that it has completed successful trials with Monash University for a new premium monitoring solution that can accurately monitor the temperature of biological assets down to negative 80 degrees with potential for lower temperatures following further development.
By successfully developing this new application of the monitoring solution, the company has overcome the technical challenges that extreme low temperature presents for reliable accurate monitoring. This new application has a far-reaching market opportunity, and the company intends to market the new premium monitoring solution to the bio-storage industry globally.
The company calls it a âplug & playâ monitoring solution as it is a reliable application for monitoring and reporting on temperatures at extremely low levels required for the storage of high-value biological materials.
The high-value biological materials can have replacement values of tens of thousands to in excess of 1 million dollars each.
The following are the benefits associated with the use of CCPâs monitoring solution:
- Provides real-time monitoring and alerts.
- Can be used to report on equipment life cycles, maintenance and replacement requirements.
- Minimises outages and unscheduled maintenance.
- Reduces the risk of compromising the stored assets.
In an announcement released yesterday, CCP informed that its temperature monitoring solution would be installed in a new state-of-the-art Casino site in Boston USA. CCP has received the purchase order, and this is the largest ever purchase order received by CCP from the US to date for its subscription-based monitoring solution.
The company released its Investor Presentation on 14th May 2019 in which the company emphasized on its recent achievements, quarterly results trend, business overview, competitive advantages and project profile.
CCP reported that its monthly revenue has increased by 127 per cent in March 2019 relative to February 2019 figure. Also, the company has witnessed a 27.6 per cent fall in its expenditure from December 2018 to March 2019. There has been a sharp rise in the CCPâs revenue in the March 2019 quarter.
The company recently provided an update on its current sales activities and qualified sales pipeline. CCP reported a 35 per cent increase in its Contract Development Revenue since February. The total qualified subscription sales pipeline (contract stage) has now exceeded $800K, declared CCP.
The companyâs stock rose substantially today with the release of an announcement on CCPâs expansion into the bio storage industry. The stock is currently trading higher at AUD 0.020 (at 2:00 PM AEST on 21st May 2019), up by 53.85 per cent relative to the last close. The stock has generated a return of 62.50 per cent in the last one month and 44.44 per cent return in the previous five days.
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