ASX Tech Stocks: ESG platform Envirosuite (ASX:EVA) up 8.33% with plans to accelerate US growth
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The environmental impact software provider Envirosuite (ASX:EVS) lead the ASX tech stocks today, jumping 8.33% off the back of news its accelerating growth in North America, with its EVS solutions now in more than 120 sites in North America across 23 states – as well as in 7 provinces in Canada.
Envirosuite has grown ARR from its EVS Omnis product in the Americas region to A$13.9m -which represents a rate of growth of 34% in a year that the market for new projects was generally heavily depressed by the pandemic.
The company is confident it’s in a strong position to deliver more growth in FY22, especially considering the US Senate has just passed President Biden’s US$550 billion Infrastructure Investment and Jobs Act which (once approved by the US House of Representatives) includes US$97bn (A$132bn) of additional funding for Envirosuite’s key sectors including:
Envirosuite expects this additional funding will modernise key infrastructure assets and provide funding to address environment concerns and further validates the strong tailwinds and opportunities for material growth of its environmental intelligence software solutions in the North American market – and the overall Americas region.
Clean Teq Water (ASX:CNQ) +6.62%
Water tech company Clean Teq Water (ASX:CNQ) was up 8.45% after securing a contract to design, procure, deliver, and install a HIROX (High Recovery Reverse Osmosis) plant to treat bore water used for enhanced oil recovery in the Middle East.
The contract counterparty is the National Energy Services Reunited Corp (NESR) which has established a Water Conservation and Management business focused on improving water availability and reuse in the oil and gas sector.
CNQ says its suite of water technologies are targeted for these applications and provide NESR with competitive advantage in this market sector.
“The award of this significant contract is further testament to our ability to provide the best water treatment solutions across multiple industries,” CEO Willem Vriesendorp said.
“The Oil and Gas sector is a tremendous opportunity for the adoption of high recovery water and reuse technology.
“Our HIROX process is one of our world-leading treatment technologies that will ensure Clean TeQ Water can compete with the world’s best water treatment companies.”
Hera Med (ASX:HMD) +4.55%
The medical data and technology company was up 4.55% today after announcing a paid pilot trial of its HeraCARE technology solution at Joondalup Health Campus in Western Australia.
Basically, HeraMED will be paid A$50 per user per month by the hospital on a Technology as a Service (TaaS) recurring revenue model to use the company’s in-home foetal and maternal heart rate monitor.
It’s the second paid pilot that HeraMED has commenced this month, following the paid pilot at Obstetrix Medical Group in United States.
Dug Technology (ASX:DUG) +3.36%
The company was up 3.36% on the news its secured a five- year contract by CC Energy Development S.A.L. (CCED) to provide advanced seismic imaging services for their exploration and development program in Oman.
The first two projects have an expected revenue of US$450,000 and larger projects have also been identified as part of CCED’s 2022 budget.
Mobilicom (ASX:MOB) unchanged
The cybersecurity and smart communication solutions provider for drones, robotics and autonomous platforms was unchanged today – despite announcing a partnership with US based Triad RF Systems.
The partnership will integrate Mobilicom’s multi-function radios with Triad’s high-power radio solutions to produce a product line with applications within military and industrial UxV drone and robotic segments.