Capitalising on the global push towards carbon net zero initiatives, sustainability tech company Simble Solutions (ASX: SIS) is growing its sales pipeline through its big push of energy tracking software that can assist offices to reduce their carbon footprint, and even reach Net Zero.
The sales are coming courtesy of sales initiatives in Australia and the UK where Simble is actively promoting its CarbonView platform which connects to Internet-of-Things (IoT) devices to track energy consumption. Throughout the month of June, Simble received $332k of orders across all its products, with CarbonView in particular being marketed to the corporate sector. These initiatives provided Simble with its strongest month of the year where new customers included David Brown Group, Sylvania Lighting, Brownhills Glass, Bluewater, Solar Energy Enterprises and Juice Capital.
Amid broader geopolitical forces, Simble has benefited from rising energy and gas prices around the world which has increased attention being given to responsible consumption. These forces have further facilitated the push towards Net Zero which is filtering down from multinational organisations towards a localised level for better energy metering services which are Simble’s core offering.
The shift at the consumer level has been a strong focal point at the Smart Energy Conference attended in Sydney where Simble representatives report strong interest in their energy data services, and Net Zero possibilities through the CarbonView platform.
Such interest has prompted the Company to expand its sales and marketing presence where they are actively pursuing direct sales through enterprise and SME channels as well as partnership opportunities in Australia, the United Kingdom, and Europe.
The increased sales in June come amid an ongoing strategic review being conducted at the corporate level where Simble is likely to announce a global restructure that will reduce expenses. In ongoing commentary while the review takes place, the Company is considering a range of options that include merger and acquisition opportunities within the IoT sector, which is hot at the moment as accessibility and tech developments are driving the sustainable consumption movement.
Included in these cost-cutting initiatives was the promotion of Ben Loiterton to Executive Chairman and transition of Ronen Ghosh from CEO to a part-time CFO role.
The major strategic review comes after Simble Solutions reported $1.7m in revenue for the year ended 31 December 2021 and a net loss after tax of $1.1m as the Company has improved its bottom line throughout the pandemic since reporting a $8.1m net loss in 2019.
Alfred Chan is a Business Reporter at The Sentiment specialising in ASX-listed small cap companies, a bloodstock enthusiast and former equities analyst.
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