New agreement lights up Simble’s European expansion
Australian software company Simble Solutions Limited (ASX:SIS) has signed a three-year agreement with Feilo Sylvania International Group Ltd (Sylvania Lighting) to incorporate the SimbleSense Platform into commercial and industrial (C&I) lighting projects.
Sylvania Lighting will commence using the SimbleSense Platform in the UK, France Germany, Spain and Italy in a bid to add value to its C&I clients as well as its small and medium-sized enterprise (SME) customers.
The agreement follows a Letter of Intent (LOI) signed in December 2019, after successful conclusion of product evaluation and detailed commercial discussions.
Sylvania Lighting chose Simble for expertise in energy intelligence and IoT solutions, leading to the SimbleSense Platform being incorporated as a standard addition to Sylvania Lighting’s commercial lighting and energy efficiency projects.
Nick Clark, Global Strategic Development Director at Sylvania Lighting Europe said of the agreement, “We are excited to partner with Simble and bundle their innovative solutions into our world-class lighting projects and demonstrate the financial and environmental benefits to our customers. We have a rich history of delivering innovation and Simble’s cloud-based energy Intelligence platform will allow our customers to understand their energy data in real-time, thus bringing energy savings to life.”
Sylvania Lighting will use the SimbleSense energy analytics platform as a white-labelled solution to measure and verify energy savings and provide advanced analytics in real-time through the cloud.
This is a function of Sylvania’s go to market strategy as it takes actions to expand its full turnkey service offering to better service customer needs by including services such as energy analytics, auditing or financing options.
Sales and marketing initiatives will commence in Q1 2020 with a formal market launch at Light + Building, the world’s leading trade fair for lighting and building services technology at Frankfurt, Germany in March.
This agreement gives Simble further leverage in Europe.
“The strategic partnership with Sylvania is a key milestone in Simble’s evolution and further validates our value proposition as a leader in the provision of energy intelligence to the lighting industry,” said Simble CEO Ronen Ghosh.
“Sylvania is expected to play a transformational role in helping us build a scalable sales ecosystem across Europe and we look forward to helping Sylvania’s customers to reduce their environmental footprint and realise energy savings.”
The partnership with Sylvania represents a major growth opportunity for Simble, as each installation completed under this partnership will deliver the company a combination of recurring Software-as-a-Service (SaaS) revenues and one off energy meter hardware revenue.
The agreement is a reseller agreement for an initial term of three years and is not subject to a trial period.