Timely update today, pleased to see we haven't lost a quarter of Ohm progress due to LiFX acquisition.
UK and Europe will be our bright spots, perfect timing with regulatory changes favouring Buddy from the end of this month. Onwards and upwards!
From the announcement:
U.K.
The launch of the Streamlined Energy and Carbon Reporting (“SECR” legislation in the United Kingdom, which dictates that carbon consumption reporting must be included in company financial findings continues to generate new opportunities for the business in this market. Coupled with the EU focus on carbon reduction and reporting, these initiatives are driving significant industry level investment in energy reduction, sustainability monitoring and compliance activities.
SPAIN
In Q4CY18, the Company supported Ingram Micro Spain in their launch events for Buddy Ohm. Following this activity, there are now multiple resellers engaged and building their respective sales pipelines. Those resellers have signed multiple customer deals in the current quarter and Buddy anticipates that first revenues will be generated in Q2CY19. The Company has deployed our first Buddy Ohm implementation at a regional telecommunications carrier, running a pilot with this major organisation in advance of further discussions around our relationship with that customer.
PORTUGAL
This week saw the “launch event” for Buddy Ohm in Portugal with our partner in the region, Ingram Micro. Initial resellers are already signed up, one of which is a telecommunications carrier partner in the south of Portugal that has pitched the product to large 4 & 5 star resorts in the Algarve area. While these efforts have yielded multiple verbal sales commitments (which Buddy anticipates will convert to paid installations in Q2CY19), the Company awaits the completion of
BUD Price at posting:
7.8¢ Sentiment: Buy Disclosure: Held
legislation in the United Kingdom, which dictates that carbon consumption reporting must be included in company financial findings continues to generate new opportunities for the business in this market. Coupled with the EU focus on carbon reduction and reporting, these initiatives are driving significant industry level investment in energy reduction, sustainability monitoring and compliance activities.
