Ava Risk Group Limited (ASX: AVA) (“Ava Risk Group” or “the Company”) is pleased to advise that it has been awarded a contract, in partnership with Siemens Korea, to protect a critical solar infrastructure project in Qatar. The Company will supply its latest fibre optic sensing technology, Aura Ai-X, to support this project.
The total contract value is approximately US$0.7 million (A$1.0 million) for the supply of detection software and equipment as well as future software upgrades and support. Delivery of the detection software and equipment is expected to occur during Q2 FY24.
Securing this contract demonstrates the market opportunity for Aura Ai-X and builds on recent contract wins for this product since its launch in March 2023. Aura Ai-X features an embedded deep learning engine to enhance system performance by referencing algorithm upgrades backed by the Company’s global data library. It combines a high Probability of Detection (POD) with the lowest Nuisance Alarms Rate (NAR) to deliver market leading performance and exceptional event classification.
Ava Risk Group CEO, Mal Maginnis commented: “Securing this contract reflects the success of our global commercial team in major markets and with large partner firms. It is also another vote of confidence in what we believe to be the most advanced perimeter intrusion detection technology in the market. I am also delighted by our continued commitment in supporting a more sustainable environment through the protection of solar technologies. The contract reinforces our confidence that Aura Ai-X has become the solution of choice for the smart protection of critical infrastructure worldwide.”
Approved for release by the Board of Directors.
For further information, please contact:
Investor Enquiries
Alexandra Abeyratne
Citadel-MAGNUS
aabeyratne@citadelmagnus.com
+61 438 380 057
About Ava Risk Group
Ava Risk Group is a global leader in providing technologies and services to protect critical and high value assets and infrastructure. It operates three business segments – Detect, Access and Illuminate. The Detect segment manufactures and markets ‘smart’ fibre optic sensing systems for security and condition monitoring for a range of applications including perimeters, pipelines, conveyors, power cables and data networks. Access is a specialist in the development, manufacture and supply of high security biometric readers, security access control and electronic locking products. Illumination specialises in the development and manufacture of illuminators, ANPR cameras and perimeter detectors. Ava Risk Group products and services are trusted by some of the most security conscious commercial, industrial, military and government clients in the world. www.avariskgroup.com