Event non-ATF Mobile

Envirosuite Limited secures another material contract from the United Kingdom’s water utility Southern Water for the multi-site rollout of Envirosuite platform. The win adds to the Envirosuite’s current string of three water utilities with Envirosuite already in use at their seven operational sites.

Southern Water is a UK-based private water utility company. It is primarily engaged in the collection and treatment of public wastewater across West Sussex, the Isle of Wight, Hamp shire, East Sussex and Kent. It also functions as a primary operator in the distribution and supply of public water in those regions.Â

Envirosuite Limited’s Chief Executive Officer, Peter White stated “Envirosuite welcomes Southern Water to the increasing number of water utility clients in the UK now using the Envirosuite platform. Mr. White further added that this contract underscores the substantial step in the growth of the company, positioned as a world-leading platform to move from site-by-site sales to multi-site implementations.”

The execution of the contract comes after the four-month commercial trial undertaken by Southern Water. Following the completion of trial-round, Southern Water has elected to move directly to a multi-site rollout across three wastewater facilities. Moreover, the company further informed that the contract is on standard terms and that there are no other material conditions to be satisfied.

Envirosuite Limited (ASX: EVS) provides Software as a Service (SaaS) towards environmental management technology. It converts data into action in real-time using its proprietary algorithms built over 30 years. Therefore, Envirosuite platform offers a wide array of environmental management, monitoring, and investigative capabilities. Its clients range from mining, water, and waste management industry to ports and agricultural industry sectors.

Recently, the company has released a flash update on its Annualised Recurring Revenue. The announcement read that as at 31 December 2018, Envirosuite Limited had the total ARR of $4.6 million. However, going forward the company aims to double its ARR each financial year from 2017FY to 2020FY.

For Fiscal Year 2019, Envirosuite targets a 100% growth in ARR which translates an increase from previous year’s $3 million ARR to $6 million in FY19. Further, the company focuses on ‘one-stop-shop’ offering where the clients can pay for an integrated package including recurring subscriptions for Envirosuite solutions and regular software updates with proprietary or third-party monitoring sensors and associated ongoing maintenance.

The update on sales performance and the factors contributing to the growth of the company’s sales are expected to be released by the end of January 2019.

In today’s trading session, EVS stock price has surged up 11.11% to last trade at $0.070 on 15 January 2019. In the past 12 months, the stock has witnessed a negative performance change of 13.70%, but to the contrary, the stock price has gone up 21.15% in the last month.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

 

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK