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Ava Risk Group (ASX:AVA) secures multiple EU airport detection contracts worth $800k

ASX News, Technology
ASX:AVA      MCAP $37.71M
30 August 2023 11:25 (AEDT)

Ava Risk Group team members at Intersec Event. Source: AVA Group/Twitter.

Ava Risk Group (AVA) has been chosen to deploy its new Aura Ai-X fibre optic sensing technology to enhance security at a select group of European airports.

The contracts for Satu Mare and Sibiu Airports in Romania, along with another Western European hub, have a total value of approximately US$500,000 (A$800,000).

AVA will provide detection software and equipment, along with a five-year contract for software upgrades and support.

Delivery is expected in Q1 FY24.

“Securing these contracts is a vote of confidence in what we believe to be the most advanced perimeter intrusion detection technology on the market,” AVA CEO Mal Maginnis said.

“We are confident that Aura Ai-X will fast become the solution of choice for the smart protection of critical infrastructure worldwide.”

The company’s software incorporates an embedded deep-learning engine to enhance system performance by referencing algorithm upgrades supported by the company’s global data library.

AVA shares last traded at 18.5 cents.

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