Quantify Technology awarded certification for Q Device, paving the way for rollout.
Quantify Technology Holdings (ASX: QFY), a unique and disruptive player in the multi-billion dollar Internet of Things (IoT) market, announced on Wednesday that it had completed Australian and New Zealand certification (AS/NZS CISPR 15 and AS/NZS 4268) of its flagship product, the Q Device.
This represents a major milestone in terms of commercialising the product, and it now allows QFY to further progress its strategy of securing large commercial and enterprise projects. However, it is important to note that the company is already on the front foot in terms of having its devices deployed with the delivery of the Q devices to a number of projects planned to commence in the second half of 2017.
These projects are in their early stages and investors should seek professional financial advice if considering this stock foe their portfolio.
Pending the award of projects that Quantify’s Q Device is currently being specified for, QFY said it remains on track with its commercialisation and product delivery pipeline and continues to receive strong interest in its target markets.
More specifically, the company is focused on generating sales into new construction projects including iconic commercial and enterprise projects. While QFY is also in discussions with parties looking to form strategic partnerships with systems integrators and channels, the company already has a number of committed projects on its books.
Upcoming projects in the pipeline
Earlier this month QFY announced that the Q Device had been included in the building specifications for three projects, two in Western Australia and one in New South Wales.
The two Western Australian projects are a medical and dental library and the Crest Apartment project in Burswood. The New South Wales project relates to the Lindfield Apartments in Sydney.
The Q Device has been specified for use in the electrical engineering plans for the projects. While firm contracts are yet to be negotiated, the specification of the devices represents an endorsement from both building contractors and electrical consultants.
Furthermore, construction work on the Wallaroo Shores project is expected to start in May. Wallaroo Shores is an 18.5 hectare development valued at $220 million and will feature a four-star resort, a residential component, a lifestyle village, and a commercial and retail sector.
QFY had previously signed an agreement with developer Copper Coast Investments for the sale and installation of its products for approximately 650 dwellings.
Copper Coast has agreed to exclusively promote and procure the purchase and installation of QFY’s products in buildings erected at Wallaroo Shores by incorporating a requirement that the owners use QFY’s products for dwellings erected as part of the project.
Q device aims to be the switches and routers of the future
The Q Device encompasses a range of products that provides the company with a distribution platform for the future evolution of Internet of Things technologies. This includes retrofittable switches and power outlets which are designed to provide real-time evaluation of environmental and risk factors for building occupants, as well as proactively managing services and utilities to ensure the highest levels of efficiency are achieved to create Truly Intelligent Buildings.
Included within each device is autonomous compute power allowing the delivery of advanced applications without the dependency on “Cloud Computing” applications or local gateways or servers.
Importantly, the certification conducted by Compliance Engineering in Victoria means that the AC modules in the Q Device are certified to the required Australian and New Zealand standard.
QFY is aiming to become one of the key infrastructure solutions to enable the future growth of the Internet of Things.
Management explained the company’s strategic position and the relevance of its products in the broader construction industry in saying, “Much as the Internet today is comprised of key devices such as switches and routers to allow it to scale to the size and performance we see today, Quantify’s intelligent devices aim to be the switches and routers of the future of the Internet of Things, allowing a simpler and more scalable architecture as IOT grows”.