Excellent report.
Another $4M Quarter
Cash Receipts $4.6M
ESTABLISHMENT OF HTG’S DEFENCE DIVISION
In line with its objective to diversify and expand its client base, a condition of Phase 2 is to become an approved defence supplier.
In December 2021, HTG commenced the establishment of a new division to focus on, and take advantage of, the growing demand for connectivity and control solutions from defence and government organisations, specifically within the Five Eyes (5VEY) alliance.
HTG’s Infinity technology has a unique set of capabilities that are directly and rapidly transferable into defence and government applications and networks.
CISCO WEBEX INTEGRATION PROOF OF CONCEPT
As per the planned proof-of-concept development roadmap, phase 2 of the Webex integration continued through the December quarter to create a scalable dedicated API for end user on-demand use. Connections are now possible between the Nodestream and Webex ecosystems, and connections can be initiated from any Nodestream enabled hardware encoder. The interface requires minimal input from a user standpoint and
the results are in line with expectation.
Pilot commercial opportunities are being identified and trials are expected to commence in Q1 2022.
REMOTE INSPECTION SOLUTION
Effective Q1 2022, the Remote Inspection Solution (RIS) will be available to operators across several sectors. Preparatory works commenced in earnest in Q4 2021 to ready the solution for formal launch and adoption.
Given the success and transformation this solution enabled for Fugro, demand is expected to be constant through the remainder of 2022. Stock levels have been adjusted in line with projected demand to mitigate supply chain constraints.
INMARSAT AVIATION
A new drone platform is being sourced to continue the next phase of testing and trials to support the Inmarsat Aviation project.
Delivery is expected late January 2022, with trials commencing in early February. Full proof of work is expected prior to end Q1 2022.
ECOQUIP
Technical planning and development for a proof-of-concept project was completed during Q4 2021. The project will integrate satellite communications, camera systems and Nodestream Solutions into portable trailers designed and built by Ecoquip.
Pilot trials will begin in February 2022, with several use cases and commercial opportunities including defence applications to follow upon successful completion.
QUARTERLY OUTLOOK
Global industry partnerships have laid the groundwork for growth in Phase 2 and Harvest remains focused on accelerating its revenue growth.
As highlighted in Company’s latest investor presentation on December 13, 2021, HTG was in qualified negotiations with two major global players in the maritime industry. One of those partnerships has been cemented with the signing of the Master Services Agreement with Inmarsat and HTG remains in reseller negotiations with the second opportunity, a leading global provider of end-to-end managed smart network solutions for remote operations.
HTG is also in reseller negotiations with a leader in world-class aviation technology.
During the next quarter the Company expects to deliver:
• Several global reseller agreements for Infinity technology products and solutions
• Increased revenue and adoption of Infinity products and Opsivity SaaS platform
• Key development programs with partners moving to live client Beta trials
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