ASX Tech Stocks: Skyfii lines up 3 new airport contracts worth $1 million, jumps 10%

Skyfii nabs $1 million worth of new airport contracts
Vection reports growth across defence, military and real estate sectors
Fastbricks signs MoU with United Arab Emirates Ministry of Energy & Infrastructure

Skyfii (ASX:SKF)

Intelligence company Skyfii rose 10.52% today off the back of $1 million in new airport contracts, including:

Charlotte Douglas International Airport – 3-year deal for a queue analytics system to improve passenger experience at their Transportation Security Administration (TSA) checkpoints;

Las Vegas McCarran International Airport – the Transportation Security Administration (TSA) has partnered with CrowdVision on an initial 3-year term to anonymously monitor the real-time movement of passengers through queues at the Innovation Checkpoint; and
Adelaide Airport – a five-year agreement to deploy CrowdVision’s passenger queue monitoring and crowd analytics solution.

“These deals, with a TCV (total contract value) of $1 million, reflect the positive momentum we are building in the airport vertical and further supports our transformative acquisition of CrowdVision earlier in 2021,” Skyfii CEO Wayne Arthur said.

“With flight numbers and passenger movements recovering in the USA and Europe to pre-COVID levels, and the reopening of international travel in Australia, we expect to see continued growth in the airport vertical.”

“With a strong balance sheet and a market leading product offering, we are very well positioned to accelerate our growth efforts and will deliver a significant uplift in revenues in FY22 and beyond.”

Vection Technologies (ASX:VR1)

Real-time software company Vection Technologies was up 7.1% after updating the market on its enterprise sales activity since the end of the September quarter.

Vection said FY22 TCV growth has climbed to around $8 million — a 58% increase compared to Q3.

The company says it has seen strong growth across the defence, military and law enforcement sectors, along with AEC and real estate.

The outlook for FY22 is underpinned by a strong pipeline of opportunities across VR1’s integrated XR, AI and IoT technology suite, the company said.

The varied work pipeline is a by-product of companies globally looking to accelerate their interest in the ‘metaverse’ trends, VR1 added.

FastBrick Robotics (ASX:FBR)

Robotics company FBR was up 8.3% today, after signing an MoU with the United Arab Emirates Ministry of Energy & Infrastructure to conduct a joint feasibility study of the use of Hadrian X® in the construction sector.

The MOU will see FBR and the Ministry identifying opportunities for the introduction and adoption of FBR’s robotic construction technology, solutions and services to serve the construction sector in the UAE, and exploring the potential for local manufacturing.

FBR and the Ministry also intend to collaborate on the demonstration of the utility and the effectiveness of the Hadrian X® and other robotic technologies to various stakeholders in the UAE, through the implementation of pilot building programs in Australia and/or the UAE, the company said.

“The innovative thinking and appetite for new technology in the UAE presents an ideal environment for the introduction of our robotic technology to a new market, and the work that we’ve been doing to achieve acceptance of the Hadrian X® and the Fastbrick Wall System® in the UAE over the past three years is beginning to yield results,” FBR managing director and CEO Mike Pivac said.

The UAE government has a stated initiative to invest $4.7 billion into over 23,000 new residential units across the country over the next five years, and FBR plans to establish a Wall as a Service® (‘WaaS®’) operating entity in the UAE with the aim of meeting the demand for robotically constructed walls in the region, likely in 24 to 36 months.

K2Fly (ASX:K2F)

Up 1.62% was ESG platform K2F. after the company announced it has extended its RCubed Resources & Reserves Solution with Glencore Canada Corporation for an additional three years to 2024.

The agreement will cover global Zinc operations across 56 sites in seven countries.

The value of the three-year extension is a TCV of $443,000, with annual recurring revenues (ARR) of $130,000.

RCubed enables Mineral Resource & Reserve Governance, Compliance and Reporting. It dramatically reduces overhead and improves efficiencies and provides systemised back-up and robustness to reporting processes.

K2F CEO Nic Pollock said RCubed is showing strong continuity with customer contract renewals and extension of contract terms – as evidenced by Glencore Canada.

“Take-up across the mining industry sees us delivering this solution to 14 customers globally, many of which are tier-1, across a number of mineral types and supporting multiple exchanges and reporting codes including the new SK-1300 requirements of the NYSE,” he said.

Weebit Nano (ASX:WBT)

Semiconductor player Weebit Nano dropped 3.7% after a capital raising to support accelerated growth – and introduce major Israeli institutional investors onto the register.

This includes a $25.7 million placement to 4 Israel-based institutional investment and pension funds, and a $9 million entitlement offer.

Meitav Dash, a major institutional investment and pension fund in Israel, managing over US$65 billion, was the cornerstone investor to the placement

Weebit CEO Coby Hanoch said the capital raising “allows us to bring forward growth initiatives that were planned for two years’ time, accelerating our ability to deliver on the attractive opportunities we see for the company as commercial interest in our technology grows.”

The proceeds from this capital raising will support:

Migrating Weebit’s ReRAM technology to smaller geometries (below 28nm);
Continued development of the discrete memory component, growing it to larger arrays;
Constant improvement of the technology parameters, making Weebit’s ReRAM even more robust;
Expanding marketing and sales activities – transferring the technology to additional fabs, and signing up customer projects that will license the technology and embed it into their designs; and
General working capital requirements.