I sold out yesterday of course……
US Energy Utility Sector Update Highlights:
• Pointerra3D deployed to support FPL’s storm response program
• Pointerra 3D deployed to support greenfield solar renewables
development across continental US by NextEra Energy
• Continued growth across the strategically important US energy
utilities sector
Pointerra Limited (ASX: 3DP) (“Pointerra”; “Company”) is pleased to provide an update on recent enterprise sales activity during the June 2022 quarter in the strategically important US energy utilities sector.
FPL Storm Response Program
Following the successful completion of a paid POC (Proof of Concept) project originally announced to the ASX on 20 September 2021, existing Pointerra customer FPL (Florida Power and Light) has entered into new contracts for the deployment and ongoing development of the Pointerra3D Answers storm response solution. Pointerra3D Answers will be a key element supporting FPL’s storm response program, commencing with the 2022 storm season.
Pointerra3D’s unique ability to rapidly determine and extract insight and answers from airborne LiDAR captured immediately after a storm event will be central to FPL’s response efforts in the event of a major tropical incident.
In the event of a storm, FPL will load pre-storm and post-storm LiDAR collection that will be fully processed by Pointerra3D with results available within 24 hours for pre-storm collect and 6 hours on post-storm collect.
Pointerra Limited | ABN 39 078 388 155
Registered Office: Level 4, 216 St Georges Terrace, Perth WA 6000
T +61 8 6268 2622 | F +61 8 6268 2699 | E [email protected] | W pointerra.com
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ASX Announcement 23 June 2022
ASX Announcement
These delivery times are unprecedented in the industry and are only possible through leveraging Pointerra’s proprietary and highly automated AI/ML algorithms and scalable cloud architecture.
The Pointerra3D Answers solution will identify damaged/downed assets and adjacent property impact, cross referenced to electricity network outage data, to guide the deployment of FPL crews and resources critical to incident response and the restoration of power to customers.
Major storm response efforts can cost utilities +US$100M per event so the ability to rapidly target resources to the areas of most need is game changing for FPL.
Revenue for Pointerra and the resultant impact on ACV (Annual Contract Value) will be determined by the number, frequency and severity of storm responses during each season and has the potential to be material for the Company, however in any event will be not less than US$250,000 pa. The contracts are annual and are capable of being terminated at any time and are in addition to previously disclosed enterprise agreements with FPL.
NextEra Energy Renewables
Following the successful completion of a paid POC project originally announced to the ASX on 20 September 2021, existing customer NextEra Energy (the parent company of FPL) has entered into an enterprise subscription agreement to use Pointerra3D Analytics to support Nextera’s multi billion dollar greenfield development of solar energy project sites across continental USA.
The adoption of Pointerra3D by NextEra Energy provides a centralised design/construct/operate digital twin environment for NextEra to scale their investment in renewable energy. By delivering consistency and repeatability and through efficient workflows NextEra is able to streamline design and digital engineering workflow processes, saving significant time and reducing costs.
Additional paid POC’s are underway currently for a similar solution to improve operational performance of NextEra’s existing (brownfield) solar sites across the country and Pointerra expects that this will lead to material growth in NextEra Energy’s spend with the Company into FY23.
The new enterprise subscription with NextEra Energy has the potential to be material for the Company, however in any event will be not less than US$250,000 pa. The contract is annual and is capable of being terminated at any time and is in addition to previously disclosed enterprise agreements with NextEra Energy.
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ASX Announcement US Energy Utility Sector
Pointerra3D continues to evolve as a “must-have” platform for the US energy utility sector, with existing customers advocating adoption of the Company’s digital twin solution amongst peer utilities, which is expected to drive further growth in platform deployment and ACV across Pointerra’s largest customer sector. The Company expects that this customer advocacy will result in lower cost of customer acquisition and subsequently higher profitability per sale as the business continues to scale across the sector.
In recent months the Company has continued to grow the deployment of the Pointerra3D digital twin platform (Core, Analytics and Answers) by a number of existing energy utility customers (all previously announced to the market) in the sector including Pacific Gas & Electric, FPL, Entergy, Eversource, NextEra Energy, Gulf Power, SoCal Edison, Seattle City Light American Transmission Company, Western Power and SA Power Networks.
The Company looks forward to informing the market of further developments during the current quarter in July when the Quarterly Activities/Appendix 4C Cash Flow Report and ACV Update is released
This announcement has been authorised and approved for release to the ASX by