- Simble Solutions (SIS) announces a contract extension with lighting provider Feilo Sylvania International Group
- The agreement will last for five years with an option to extend for a further five years
- It will allow for an extension of channel collaboration and the reseller agreement with Sylvania to offer the SimbleSense energy and IoT analytics platform to its customers
- The new agreement will focus on the Middle East and 26 countries across Europe
- Shares are trading flat at 1.7 cents
Smart energy software-as-a-service company Simble Solutions (SIS) has announced a contract extension with lighting provider Feilo Sylvania International Group.
Sylvania is a provider of professional and architectural lighting with a global footprint in over 25 countries.
Under the agreement, the SimbleSense platform and Wattwatchers devices will be offered as a bundled solution to Sylvania’s Commercial and Industrial (C&I) and SME customers.
The agreement will last for five years with an option to extend for a further five years.
It will allow for an extension of channel collaboration and the reseller agreement with Sylvania to offer the SimbleSense energy and Internet of Things analytics platform to its customers.
The company said traction from the initial agreement was impacted by COVID-19, which delayed the launch of the original white label solution and affected the implementation of sales and marketing activities for the European Sylvania Lighting team.
The parties have recently worked together to reset the business partnership, resulting in this new agreement, in which Sylvania will roll out sales and marketing from this month.
The new agreement will focus on the Middle East as well as 26 countries across Europe.
Sylvania is preparing to launch “SylSmart Energy”, a solution powered by the SimbleSense platform with Sylvania’s design and branding.
Once the rollout begins this month, the LED lighting packages offered to customers of Sylvania Lighting will include a SylSmart Energy subscription and a hardware component.
Revenue generated for Simble will range between $1,000 to $1,400 per metre and is made up of software revenue recognised across three, five or seven year terms, and hardware revenues recognised upfront.
Simble Executive Director Fadi Geha said the partnership, which was announced in February 2020, is a key milestone of the company’s evolution.
“Due to COVID-19, there have been significant delays in relaunching this partnership, but we are delighted to finally get this agreement back on track and more importantly to expand both the term and the geographic coverage,” he said.
“We look forward to working with Sylvania Lighting to scale up the sales ecosystem across Europe and help their customers to realise energy savings and reduce their carbon footprint.”
Simble shares were trading flat at 1.7 cents at 3pm AEDT.