Buddy Platform (ASX:BUD) has announced an update to the performance of its Buddy Ohm energy monitoring solution.
The Ohm solution has been making positive inroads into the European, US and Australian markets.
It has signed its second UK government council, Harborough District Council, that will use the Ohm solution to monitor utility resources within its headquarters to ‘better understand how it can increase energy efficiency and cost-effectiveness.’
It will also install the Ohm solutions in its sports centre as part of a planned upgrade.
BUD is working with distribution partner, Rizon, in the UK who are building a solid pipeline of potential customers and the company also revealed it is progressing a relationship with one of the ‘three major telephony operators in the UK’.
Elsewhere in continental Europe, Buddy Ohm has signed up a number of resellers in Spain and Portugal, following launch events supported by existing reseller Ingram Micro.
The company says it expects first revenues from the Spanish and Portuguese markets in the second quarter of 2019.
Over in the Caribbean, BUD has brought on board five new resellers, following the removal of the exclusivity clause with Digicel.
The addition of new resellers in the region is an indication of the demand in the region for a product such as Ohm and has led to a number of new customers in the region.
The new customers include the US Consulate in Curacao and a number of new locations where Ohm will monitor temperature and cold storage.
One such customer is a Baskin Robbins location to monitor and alert freezer installation – no one wants a melted tub of ice cream!
In Australia, BUD has won a competitive tender for an east coast city. The scope is for an initial seven buildings in the city and will run for an initial three months before consideration to extending the duration and the number of buildings.
In the US the company noted that a number of Ohm deployments are underway, including an installation at one of the largest ski resorts in North America where Ohm will use the data to help management better understand operating costs.
Also in the US, BUD’s reseller partner, Ingram Micro, have now launched the IoT Marketplace and are signing up US resellers.
Buddy Ohm is featured in the IoT Marketplace and will be available for signed up resellers. Upon launch of the site, Ohm was featured front and centre on the homepage.
Furthermore, BUD also said that it has sold and begun delivery of its new Managed Services offering to customers in the US, Europe, Latin America and the Caribbean and expects ‘to continue to drive increased Ohm sales with this new capacity.’
Managed Services are offered on different levels and allows customers to choose the level of support required from an advanced monitoring service that includes 24×7 alert management and regular compliance reports to advanced consulting services that includes customised recommendations on sustainability and efficiency programs.
The announcement was encouraging for shareholders and BUD’s share price jumped 7 percent on the day of the news.
This content is produced by Star Investing in commercial partnership with Buddy Platform. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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