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

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.