Tuesday 27th October 2020
|Text too small?|
Wellington Drive Technologies (Wellington) is pleased to announce that it has signed an agreement with Imbera Cooling (Imbera) for the supply of custom connected hardware and data services to support Imbera’s current and future requirements.
Wellington will be the exclusive supplier of connected controllers, software and data services to Imbera. Wellington will provide versions of its cloud connected hardware bundled with the associated IoT application software (apps) and data services that have been customised to meet Imbera requirements.
Wellington and Imbera will collaborate on products and services to support a range of Imbera customers with connected refrigeration solutions. The agreement includes the following key terms:
• a contract term of three years, renewable based on competitive assurances;
• providing technology solutions including software apps and platform customisation;
• ability to sell IoT products outside of the partnership and for Imbera to continue selected internal projects, and adherence to existing Wellington and Imbera customer agreements;
• Wellington to make available new product developments and provide support services to a defined level based on sales volumes.
Initial sales of the custom controller and bundled data services are expected to start in the first half of 2021, subject to the completion of a customised connected controller product launch (planned for fourth quarter 2020) and the commencement of Imbera customer agreements.
The financial effects of the Imbera agreement will not emerge until 2021, and are then expected to be materially positive, notwithstanding the continued uncertainty on overall customer demand as a result of COVID related restrictions.
Wellington CEO, Greg Allen commented “This agreement represents a significant business opportunity for Wellington with annual Connect SCS volumes above 100,000 units potentially achievable as the agreement progresses towards volume over the coming years. Imbera is a long-time customer of Wellington and we are very excited to be able to support their ventures and collaborate to support the commercial refrigeration industry with new connectivity-based managed services. This is further affirmation of the value of Wellington’s IoT solution by one of the largest commercial refrigeration manufacturers in the world.”
Carlos Montoya, Imbera COO “Our company is developing a range of services to better serve our customers and help them maximise the value of their refrigeration assets. The product partnership with Wellington combines our engineering and customer expertise with Wellington’s engineering capability and product strategy to the benefit of our customers. We are looking forward to working with Wellington as an Imbera current and new ventures growth partner.”
Source: Wellington Drive Technologies
No comments yet
Abano Healthcare Group Limited (NZX: ABA) Shareholders Vote in Favour of Scheme
Smartpay Holdings Limited (NZX: SPY) Interim Result Announcement and Half Year Report
Green Cross Health Limited (NZX: GXH) Reports Half Year Profit of $8.8M
Fletcher Building Limited (NZX: FBU) Annual Shareholders Meeting Documents and 1H21 Guidance
Comvita Limited (NZX: CVT) Reports Strong China Market Sales During 11:11 Event
Kathmandu Holdings Limited (NZX: KMD) Trading Update
Goodman Property Trust (NZX: GMT) to Redevelop Strategic Mt Roskill Site
Turners Automotive Group Limited (NZX: TRA) Delivers Robust Earnings Despite COVID Disruption
Fisher & Paykel Healthcare Corporation Limited (NZX: FPH) Record Half Year Result: Net Profit Up 86%
Stride Property Group (NZX: SPG) Trading Halt of Securities