Ann: AD1 signs Managed Services Agreement with 3P Energy, page-4

AD1 signs Managed Services Agreement with 3P Energy

Melbourne, Australia, 17 August 2020: AD1 Holdings Limited (ASX: AD1) (AD1 or the Company) is pleased to announce that it has signed a new Managed Services Agreement with 3P Energy Pty Ltd (3P Energy).

Under the Managed Services Agreement, the Company will provide 3P Energy with its full suite of SaaS solutions and related managed services to enable customer acquisition, fully compliant billing and operations, and customer analytics platform.
The initial term of the agreement is three years and is expected to be revenue generating in the December 2020 quarter.

3P Energy is wholly owned by National Solar Energy Group (NSEG) which owns several businesses which provide a range of industry leading solar services and solutions throughout Australia.
NSEG’s largest business trades under the name of Sunboost and is Australia’s largest provider of solar technology to the residential and commercial markets.

AD1 CEO, Prashant Chandra, said: “We are very pleased to expand our relationship with 3P Energy to a multi-year Managed Services Agreement having previously provided them with consulting services to co-develop a technology roadmap for the provision of innovative retail energy services focusing on solar energy solutions.
The successful appointment of the Company under the Managed Services Agreement is a validation of our competitive advantage as it relates to partnering with new market entrants.”

“In addition to this win, the Company continues to progress multiple new business opportunities across both divisions, that are also in late stage discussions and expected to close in the current quarter.”
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