The deal will result in a ‘material increase’ for SaaS-based recurring revenues in the EVS Water division. Image: Getty
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The deal will result in a ‘material increase’ for SaaS-based recurring revenues in the EVS Water division.
Environmental technology company Envirosuite (ASX:EVS) has taken the next step in the global rollout of its EVS Water platform, with a landmark deal in Singapore.
The company announced this morning that the Public Utility Board (PUB) of Singapore has signed a contract to implement the EVS Water Optimiser as part of its broader water management practices.
The deal is the largest contract signed to-date for the EVS Water platform, which continues to find momentum in domestic and global markets as leading water treatment solutions become crucial for both companies and government infrastructure providers.
EVS Water Optimiser assists clients to determine the optimal dosage for coagulants – compounds which removes impurities such as bacteria or dirt – in order to maintain water quality.
The Optimiser software provides data in almost real-time – a key feature for flexible water management and risk reduction.
And the group’s deal with PUB Singapore marks a “significant expansion” of its existing commercial partnership which commenced in June last year.
That followed Envirosuite’s selection in PUB’s Global Innovation Challenge (GIC) for coagulant dosage in water treatment processes, where the company emerged victorious from a field of 104 applicants.
The contract term is for 16 months, and the SaaS-based terms of the deal will yield a “material increase in the annualised recurring revenue (ARR) of the high margin EVS Water business”, Envirosuite said.
PUB is the national water agency for Singapore, and operates under the Ministry of Sustainability and the Environment.
It manages ensures the safety of water supply, catchment processes and used water across the country, which uses around 430 million gallons of water every day.
The successful contract win further validates the Envirosuite executive team’s commitment to accelerating growth in the EVS Water vertical, to accompany its aviation division and EVS Omni platform that serves the mining and industrial sectors.
Late last year, major investors backed that vision as the company executed at $10.5m capital raise – the bulk of which was allocated to the scale-up of EVS Water.
EVS Water’s latest deal with PUB Singapore accompanies a separate strategic partnership that it signed with multinational engineering services firm GHD in November.
Envirosuite CEO Jason Cooper said the PUB contract marks an important early success barometer for EVS Water as it scales up globally.
“EVS Water Optimiser is designed to assist utilities like PUB to be able to determine the optimum coagulant dosage of potential fluctuating source water quality in near real-time, helping them to optimise the process and reduce risks,” Cooper said.
On that front, the group’s technology is perfectly designed to meet the needs of water utilities globally, where a key challenge centres around managing the fluctuation of incoming water quality.
EVS Water offers a proven new solution with product market fit for utility clients, who often rely on redundant processes that don’t synchronise with real-time water flows, which leads to imperfect dosage levels.
“PUB is widely regarded as one of the most innovative water utilities in the world that initiates global technology adoption, and we are delighted with this significant agreement for Envirosuite as we continue to grow our EVS Water customer base in a multi-billion-dollar market,” Cooper said.
This article was developed in collaboration with Envirosuite, 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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