HIGHLIGHTS

X2M Connect Limited has secured a manufacturing license to produce and sell South Korea’s first Al-enabled separable integrated smart water meter.

• X2M secures a manufacturing licence for South Korea’s first Al-enabled integrated smart water meter, engineered to maintain connectivity in flooded underground conditions
  
• X2M was engaged by the largest South Korean water manager to address a national challenge in residential water meter connectivity and to reduce the cost of water digitisation
  
• Meters are connected to X2M’s patent supported, Al-enabling data processing platform, driving curring SaaS revenue alongside hardware sales
  
• Two years of “private contract” access provides a pipeline to South Korean municipalities via the Public Procurement System, with no tender process required to order meters
  
• X2M is the only company to achieve a separable integrated meter certification in South Korea, having now delivered the most innovative product in the market
  
• South Korea mandates water meter replacement every eight years, creating an annual replacement market of approximately one million units across 8.7 million installed meters The Total Addressable Market for water metres across South Korea is estimated to be more than $1.3B and $52M in annual recurring revenue
  
• X2M’s existing water meter customer base in South Korea represents an addressable market opportunity of approximately $750M, with an estimated $30M in annual recurring revenue