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SENSEN NETWORKS LIMITED — Capital/Financing Update 2021
Dec 6, 2021
65829_rns_2021-12-06_ae1da65f-8d02-4d8e-8b2c-687af4901396.pdf
Capital/Financing Update
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ASX Release
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7 December 2021
SenSen Wins Multi-Year Contract with Sunshine Coast Regional Council
HIGHLIGHTS
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SenSen has been awarded a contract by Sunshine Coast Regional Council, a Queensland local government, to deploy its sensor AI automated parking enforcement solutions
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SenSen will earn ~A$280K over the 36-month period of the initial contract, commencing in January 2022
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The win further bolsters SenSen’s leadership role in the emerging curbside management market and reflects SenSen’s ability to deploy its patented and award winning technology to overcome existing and emerging challenges faced by cities
Leading sensor AI software and solution provider SenSen Networks Limited (ASX:SNS, “SenSen” or “the Company”) today announced it has secured a deal to supply automated parking enforcement solutions to Sunshine Coast Regional Council.
Commencing in January 2022, SenSen will deploy one mobile parking enforcement unit along with associated software and services. SenSen will earn upfront revenue for the systems, software and commissioning of the unit. SenSen will also earn annual recurring revenues and fees for the software licence, maintenance and support services under the three-year term of the contract.
The Sunshine Coast Regional Council covers over 4,000 kilometres of roads and a population of more than 350,000.
Commenting on this latest Council contract, SenSen CEO Subhash Challa noted: “We are excited to add the Sunshine Coast Regional Council to the growing number of Queensland council customers who use SenSen’s patented AI sensor systems to keep roads safe and congestion free.”
This release is approved by the Board of SenSen.
For further information, please contact:
Investor contact: Vanessa Beresford Citadel-MAGNUS [email protected] Or David Smith Executive Director and Company Secretary Email: [email protected]
Media contact: James Strong Citadel-MAGNUS [email protected] Or Helen McCombie Citadel-MAGNUS [email protected]
SenSen Networks Limited ACN 121 257 412 www.sensennetworks.com +61 (0)3 9417 5368
Melbourne: Level 1, 9 Harper Street, Abbotsford VIC 3067 Sydney: 3 Spring Street, Sydney NSW 2000 Las Vegas: Office #8, International Innovation Center, 300 South 4[th] St, Suite 180, Las Vegas NV 89101
ASX Release
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About SenSen Networks Limited
SenSen Networks Limited (ASX:SNS; OTCQB:SNNSF) is a leading AI Data Fusion Enterprise that works with people, places and data to solve problems once thought technically impossible. The company’s patented network approach enables SenSen to offer customised, real-time and batch processing of data alongside SaaS solutions.
The Company’s technology fuses complex video and sensor datasets at high speeds across multiple networks to assess and inform strategic actions to its customers across its enterprise verticals: Smart Cities, Casinos, Airports and Retail. SenSen has clients on four continents and can be found in Australia, New Zealand, Singapore, USA, Canada, India and UAE.
Disclaimer – forward-looking statements
This release may contain forward-looking statements. These statements are based upon management’s current expectations, estimates, projections and beliefs in regards to future events in respect to SenSen's business and the industry in which it operates. These forward-looking statements are provided as a general guide and should not be relied upon as an indication or guarantee of future performance. The bases for these statements are subjected to risk and uncertainties that might be out of control of SenSen Networks Limited and may cause actual results to differ from the release. SenSen Networks Limited takes no responsibility to make changes to these statements to reflect change of events or circumstances after the release.
SenSen Networks Limited ACN 121 257 412 www.sensennetworks.com +61 (0)3 9417 5368
Melbourne: Level 1, 9 Harper Street, Abbotsford VIC 3067 Sydney: 3 Spring Street, Sydney NSW 2000 Las Vegas: Office #8, International Innovation Center, 300 South 4[th] St, Suite 180, Las Vegas NV 89101