• Wins two new multi-year software subscription contracts worth ~NZ$3m
• Over 700 engineers at a major US electric utility will use IKE Poleforeman's advanced capabilities
• Expects further significant subscription contracts in the short and medium term

IKE, the PoleOS Company, has announced that it has won two new multi-year software subscription contracts, initially worth ~NZ$3m. One of these customer commitments means over 700 engineers at a major US electric utility will use IKE Poleforeman's advanced capabilities for structural analysis and the design of distribution assets, to meet grid resiliency and network capacity targets over the coming decades. An expected consequence of these Distribution Standards department decisions is that additional engineering companies and communications groups, working across these power utility's networks, will also adopt IKE PoleForeman long term. Overall, these two companies deliver power to more than 6.5m US customers. IKE expects that further significant subscription contracts will close in the short and medium term.

IKE expects that further significant subscription contracts will close in the short and medium term, which is expected to result in additional annual recurring revenue (ARR) of ~NZ$1m.