Simble says its software can help with ESG reporting; shares surge after signing UK deal
There aren’t many stocks in the ESG space but Simble Solutions (ASX:SIS) is one that says it is well placed to capitalise.
Simble is arguably better known, at least among consumers, for its SimbleHome app which is an energy price comparator.
But also has a platform called CarbonView which helps companies measure, understand and report their sustainability performance and metrics specifically in relation to carbon emissions.
Simble says this enables organisations to achieve sustainability goals, standardise reporting and provide transparency to investors and shareholders.
Today it signed up British power transmission company David Brown Group as a client and the company will now deploy CarbonView across its global sites.
The deal will last for three years and Simble estimates minimum contracted SaaS revenues of $200,000. Simble predicts this will increase its energy division’s annualised recurring revenues by 12 per cent.
Simble CEO Ronen Ghosh welcomed the deal and predicted more would come.
He noted that ESG reporting is becoming more widespread and in some cases, such as Modern Slavery Act compliance, compulsory; and his company could help clientele with reporting obligations.
“The increased global focus on ESG reporting, and the need for disclosure of data explaining a business’ impact is a welcome sign,” Ghosh said.
“Increasing global mandatory reporting requirements will lead more organisations to review their environmental and sustainability reporting capabilities.”
“The CarbonView platform is a scalable solution that enables our customers to achieve their sustainability goals through effective reporting.”
Simble shares gained 11 per cent today and have more than doubled in the last 12 months.