Smart city specialist SenSen just had its best quarter; here are the ASX stocks focused on future living
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Artificial intelligence (AI) sensor technology company, SenSen Networks (ASX:SNS), has risen by more than 20% over the past week.
The catalyst has been its record cash receipts for Q4 of $1.6m, which was its best ever result since listing in 2017.
The company’s technology plays a crucial role in the Australian government’s Smart Cities Plan to catapult our urban cities into the 21st century. Around three-quarters of Australians live in major cities, and 80% of our economic output and jobs are tied to these urban areas.
SenSen Networks meanwhile, operates in four business verticals – smart cities, retail, casinos and surveillance – with its smart cities business being its bread and butter.
Its technology includes traffic and tolling, smart parking, and smart curb management, with key markets being Brisbane, Singapore and the US where it recently opened an office in Las Vegas.
The company is trying to scale up its AI capabilities, acquiring a company in May called Scancam Industries which has a technology that prevents drive-offs at service stations.
There is a handful of smart cities-focused companies on the ASX.
Spectur provides remote-sensing surveillance cameras for public and remote places such as beaches, parks, bushlands and other isolated facilities.
Its AI technoIogy can process complex scenarios very quickly with a high degree of accuracy, with features including facial and object recognition.
More and more, the technology is being used in the mining sector, as a tool for incident review and claims management.
The company is focused on the IoT smart building technology market, which is expected to pass US$50 billion by 2023.
Its technology helps building managers track environmental data and helps them understand what’s chewing up energy.
The company is operating globally. For example in the historic 5th Avenue theatre in Seattle, the Buddy system is tracking energy use and weeding out inefficiencies to help decide how power use could be lowered in the long run.
The company has a solar glass technology that also reduces energy use in a building. Its patented technology sits within an activated interlayer between two panes of glass.
The company has been granted 85 patents across for the world for the technology, and is currently driving commercialisation across the US, Europe, China, and Australia.
The company makes parking sensors – including those coloured red/green lights which tell you when a parking spot is occupied or not.
It sells technology mainly in the UK, New Zealand, and Australia, where the total number of sites its technology is being used at has been rapidly increasing to over 600.
The SPZ share price has been on fire this year, rising by nearly 40% as a result of rapid growth.
The company produces signals and controllers used in traffic lights around the cities.
It has long term supply contracts in place with governments in Victoria, New South Wales, South Australia and Queensland.
The company’s Urban Traffic Controllers technology also continues to be exported worldwide, and with that rapid growth its H1 results looked healthy, with revenues up by 19%.
It recently acquired the Intelligent Transport Systems business of Artcraft Pty Ltd, a supplier of electronic road signage and software systems to customers across Australia.