• X2M wins four new contracts in South Korea valued at approximately A$1.7 million
• New orders received from the cities of Ulsan, Busan, Incheon and Gyeongju for water digitisation of 13,625 households
• Addressable market across the four cities is around one million households
• These contract wins increase X2M’s total enterprise and government customers to 82
• Deployments across the four cities expected to be completed by December 2025 X2M
CEO Mohan Jesudason said: “We had anticipated an increase in activity with new funding allocations to digitisation of water following the setting of municipal budgets in January/February. It is pleasing to see this early activity and our success across South Korea, which we expect to move to full water digitisation in time. While our existing customers continue to expand their deployments of our solution, new customers increase the pool of potential future revenues as they push to secure benefits for more of their households.”
Read the full ASX release: New contract wins in South Korea