- Technology company Spectur (SP3) has signed its largest single-value sales contract with Surf Life Saving NSW (SLS NSW)
- Under the contract, the company will design, manufacture, install and maintain emergency response beacons for SLS NSW
- The beacons are a progression of Spectur’s existing shark warning system and will be installed at beachside locations across NSW
- The company will earn just over $351,810 in upfront hardware revenue and ongoing subscription and maintenance revenue
- Spectur is up 9.59 per cent and trading at 8 cents per share
Technology company Spectur (SP3) has signed its largest single-value sales contract with Surf Life Saving NSW (SLS NSW).
Under the contract, the company will spend the next five months designing, manufacturing, and installing a number of emergency response beacons. The beacons are an evolution of Spectur’s existing shark warning system, which is designed to improve people’s safety at beaches.
The company will install the beacons at various beachside locations across the state of New South Wales. In addition to developing and installing the beacons, Spectur will also provide services for their maintenance for the first 12 months.
The contract may potentially be extended to cover installations and services beyond the first 12 months.
Once completed, the value of the contract will amount to just over $351,800, making it the largest single-value sales contract the company has entered into thus far. Spectur’s payment with cover upfront hardware and engineering revenue and also ongoing service fee revenue for maintenance, data provision, cloud hosting and camera software access.
Spectur’s Managing Director, Gerard Dyson, commented on the company’s sales contract with a major Australian surf life saving organisation.
“We are delighted to partner with Surf Life Saving NSW to apply the unique technology we have developed through our Shark Warning platforms to a use case, which is both critically important to Australian water safety and is complementary to our core target markets,” he said.
“We see this as another great example of the broad recognition of Spectur’s product development expertise and the company’s deep experience in delivering remote sensing and monitoring,” he added.
Spectur is up 9.59 per cent, trading at 8 cents per share at 10:53 am AEDT.