• IXUP signs multi-year deal for major environmental project SEAF
  • The project will see the company’s Secure Data Engine Technology integrated with Microsoft Azure
  • The technology will initially be deployed in the Pilbara and Cockburn Sound

 

Special Report: IXUP has just secured a major multi-year deal to integrate its cutting-edge data technology with Microsoft Azure, opening up potential opportunities for the company. 

Data-tech company IXUP (ASX:IXU) has just achieved a significant milestone after finalising a multi-year deal with the Western Australian Biodiversity Science Institute (WABSI).

The agreement will see the deployment of its Secure Data Engine Technology, integrated with Microsoft Azure, for the initial launch of the Shared Environmental Analytics Facility (SEAF) project.

SEAF is a major initiative enabling the interpretation, use, and management of environmental data from some of the country’s largest organisations, to speed up and improve the process of environmental impact assessments and approval for major projects. Project partners include Microsoft, Rio Tinto, BHP Billiton, and the Western Australian Government.

IXUP’s technology will play a key role in the SEAF project, which will initially focus on deploying in two key regions: the Pilbara and Cockburn Sound.

During this initial deployment, the technology will be tested using limited data points to ensure core workflows function effectively.

If this initial deployment proves successful, there will be discussions about expanding the project beyond those first two regions to additional regions in Western Australia.

The goal is to demonstrate the economic benefits of the solution on a larger scale and explore further opportunities for growth.

IXUP says this contract marks a significant achievement as it secures a minimum revenue guarantee and represents the company’s first high-margin license fee revenue from its secure data engine technology.

The agreement not only strengthens IXUP’s position in the secure environmental data sector, but also opens doors for further national and global opportunities in both environmental and non-environmental data sharing.

 

SEAF and its potential

The announcement today follows the formal launch of the SEAF project on August 26 – a project developed by WABSI and the Western Australian Marine Science Institution (WAMSI).

The launch event was attended by the Western Australian Science Minister, Stephen Dawson, and the Environmental Protection Authority Deputy Chair, Lee McIntosh.

The SEAF project essentially aims to address the growing need for better environmental information systems in Australia, by building and leveraging a cumulative data set to improve the quality and timeliness of decision making.

With increasing pressures from new regulations and the push for more transparency in environmental reporting, SEAF is designed to provide a comprehensive solution.

SEAF’s centralised system will simplify environmental assessments by providing up-to-date, integrated data, making it easier for regulators, industries, and researchers to make informed decisions.

In Cockburn Sound, the project focuses on marine and hydrodynamic models to improve environmental management. And in the Pilbara, it aims to gain groundwater understanding and model the impacts of multiple mining developments.

According to PWC’s publicly available report, the value of utilising the SEAF solution in the Pilbara region alone has the potential to generate up to $1.6 billion in net present value over the next 10 years, driven primarily by reducing the time taken to achieve a decision on environmental impact assessments and thereby avoiding project delays.

 

More about IXUP’s technology

The IXUP Secure Data Engine is a technology designed to enable secure and collaborative data sharing while ensuring privacy and compliance.

It allows organisations to collaborate in order to perform analytics and modelling over sensitive data without ever decrypting or revealing the data to any of the collaborating organisations.

By using advanced encryption and governance frameworks, including the company’s 5-Safes Governance Framework solution, the Secure Data Engine facilitates trustworthy and transparent data collaboration.

This is extremely crucial for projects such as environmental assessments and other data-intensive applications.

Meanwhile in August, IXUP started generating revenue from its new contract with iGaming Ontario (iGO), marking its first revenue stream from the North American RegTech market.

The contract, valued at more than $10 million over five years, involves IXUP creating a Centralised Self-Exclusion (CSE) system for Ontario, Canada’s largest gambling market.

The CSE system allows individuals to self-exclude from gambling activities, helping to promote responsible gambling.

 

 

This article was developed in collaboration with IXUP, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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