Quantify Technology Holdings Limited (ASX: QFY) operates as a holding company. The Company, through its subsidiaries, provides Internet of things devices for a smart grid, scalable context-based energy management, home control and intelligence, connected sensor networks, and communication solutions. Quantify Technology Holdings serves customers in Australia.
The company has inked a pact namely Heads of Agreement (HOA) with the Mirreco Holdings Pty Ltd situated at Perth so that they can get the facility to have Quantify products showcased in a display home in Perth, Western Australia
The company has already a while back, i.e. in July 2018, completed the commissioning of its disruptive and innovative Q-Device. This is going to be an additional display home for the firm, as its products are already being displayed as well as and sold through the Harvey Norman Commercial Display (HNCD) Suite, in the Burcham Apartments in Rosebery, Sydney. This phenomenal display of smart building solutions has led to increased awareness and the needed exposure to the company’s smart solutions to innovative buildings. This traction is getting materialized into increased sales into the company’s products and services specifically into the west coast of Australia.
Mirreco is a company which is into the production of innovative sustainable construction products and hemp processing tools & equipment. These tools and equipment are developed with the objective of providing the hemp growers with significant advantages into the harvesting and processing areas. Moreover, it plans to develop a display home which will be made entirely from hemp. This showcase will also inculcate other complementary organizations, including Quantify Technology, which would allow the users with smart automation solutions for their homes, such as controlling the various functions of their homes, e.g. lighting and power via the use of both speech or touch.
The HOA agreement talks about a commitment for both parties to partake in the joint promotion of each other to garner mutual benefits from each other’s competence. Both the companies cater to key markets and products which are non-competitive, however, at the same time, the product offerings by both the companies are complementary in nature. And hence this is expected to be a perfect blend of two companies which will lead to better and innovative product offerings in the space of smart automation to the customers.
Quantify Technology’s CEO, Brett Savill has said that the pact with Mirreco will be a lucrative opportunity for the company as it will get another display home for exhibiting its innovative and smart building solutions. Moreover, this would prove to be a key factor in driving revenues for the company as it will help the firm in bringing the needed awareness to the customer base of its smart home automation solutions.
Meanwhile, the share price of the company has fallen by 81.25 percent in the past six months as on 12 December 2018. Company’s shares traded at $0.007, up by 16.7% with a market capitalization of circa $5.85 Million as on 13 December 2018 (AEST 02:30 PM).
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