Signing of two key initial agreements: a term sheet with land developer Resi Ventures and a MOU with RACV

Highlights

• X2M Connect has entered the Australian energy management market with the signing of two key initial agreements:
  – A term sheet with land developer Resi Ventures to be the exclusive energy management provider for their new 1,000 lot McMahon’s Place estate in Echuca.
  – A memorandum of understanding with RACV to explore the delivery of innovative cleaner energy solutions into residential, commercial and rural environments.
• X2M Connect will provide the in-home gateway and IoT platform to link Resi Venture’s McMahon’s Place estate homes together in a smart community that provides benefits to homeowners and the community.
• The technology solution builds on the success of the X2M Connect deployment of its energy management technology in Taiwan for the Taiwan Government owned company ETC (Electronic Testing Center).
• X2M Connect sees significant future opportunities to secure additional development estates with Resi Ventures and other land developers Australian Internet of Things (IoT) technology company X2M Connect Limited (ASX:X2M) (“X2M” or “the Company”) is pleased to announce its entry into the Australian energy management market, opening the way for further diversification of its revenue base.

Read the full ASX:X2M announcement: X2M secures first Australian energy management customer