ASX listed energy management software company Simble Solutions (ASX: SIS) has signed a three year sales agreement with Sylvania Lighting covering the UK, France Germany, Spain and Italy.
Sylvania will incorporate Simble’s SimbleSense energy analytics platform into lighting projects for commercial and industrial and SME customers.
Simble said SimbleSense would be offered as a white-labelled solution to measure and verify energy savings and provide advanced analytics in real-time through the cloud.
Each installation completed under the partnership will give Simble a combination of recurring software-as-a-service (SaaS) revenues and one -off energy meter hardware revenue.
Simble CEO Ronen Ghosh said the agreement with Sylvania represented a key milestone in Simble’s evolution “Sylvania is expected to play a transformational role in helping us build a scalable sales ecosystem across Europe and we look forward.”
Nick Clark, global strategic development director at Sylvania Lighting Europe, said lighting was moving from a commodity to a service proposition and Sylvania Lighting was expanding its turnkey offering to better service customer needs by including services such as energy analytics, auditing or financing options.
Simble raising capital
The agreement with Sylvania comes as Simble is midway through an initiative to raise funding of almost $900,000 through a sale of almost 51,000 shares (30 percent of issued capital) at $0.016 per share. The offer opened on 13 February and closes on 6 March.
In an investor presentation on the offering Simble said it was facing delays in expected revenues coupled with high fixed costs. In December it reduced headcount by half and cut back on R&D.
The company took a hit last year when the UK government postponed the estimated date of completion for the national smart meter rollout by four years to 2024, slowing sales of Simble products.
