- Ava Risk (AVA) signs two new contracts worth US$800,000 (A$1.2 million) to supply and install fibre optic intrusion detection systems in the North American energy sector
- The company expects both orders to be fulfilled in the first quarter of FY23
- This order builds on a previously-announced contract signed by the company in June, which AVA says is its largest energy sector sales order
- Today’s contract means AVA has secured an extra US$500,000 from the same energy facility as the June contract, with the remaining US$300,000 for an installation order at a different facility
- AVA shares are up 1.96 per cent to to 26 cents per share at 3:09 pm AEST
Ava Risk Group (AVA) has secured two new contracts for the supply and installation of fibre optic intrusion detection systems within the North American energy sector.
The total combined contract value is US$800,000 (A$1.2 million), and AVA is expecting the supply of material for both orders to be fulfilled in the first quarter of FY23.
This order builds on a previously-announced contract signed by AVA in June, which the company said was the largest energy sector sales order it had won.
Today’s contract means AVA has secured an extra US$500,000 from the same energy facility as the June contract, with the remaining US$300,000 for an installation order at a different energy facility.
AVA CEO Rob Broomfield said the new contracts reflected the “proven reliability and flexibility” of the company’s fibre detection system.
“We have identified other critical assets in the sector which we believe are well suited to our market-leading detection solutions and are aggressively pursuing these opportunities,” Mr Broomfield said.
“It is also pleasing that we are reaping the benefit of the investment we made during FY22 to grow our presence and capability in North America, the world’s largest security market and our main target market.”
AVA shares were up 1.96 per cent to 26 cents per share at 3:09 pm AEST.