• Entry into $491 billion APAC renewable energy market
• Strategic partnership with Sirius Digitech
• 'Hive.AI' to provide AI-driven insights for renewable energy companies

X2M Connect Ltd has launched 'Hive.AI by X2M', a world-leading AI solution for renewable energy companies in the APAC region. The new product leverages X2M's proven technology and data aggregation capabilities, combined with strategic partnerships with AI providers like Sirius Digitech, to deliver AI-driven insights that significantly improve the operational efficiencies and energy revenue of renewable energy companies. The APAC renewable energy market is valued at US$491 billion, providing a significant untapped revenue opportunity for X2M in its established markets. The launch of 'Hive.AI' builds on X2M's strategy to transition towards a globally scaled software provider, with the new product adding application-based recurring and SaaS revenues to the company's existing device-based revenues. X2M is also expanding into new high-growth markets, including the Middle East and India, through strategic partnerships such as the 10-year contract with Dicode Smart Connect Electronics to roll out X2M's data aggregation platform 'Vision by X2M' for gas operations in the United Arab Emirates.

X2M expects the first revenues from the 'Hive.AI' product to occur in the current financial year, with the high-margin contract in the Middle East expected to generate over A$250,000 in revenues during the first 12 months. The company anticipates around A$0.4 million EBITDA per annum for every 100,000 smart devices installed.

X2M is targeting significant growth opportunities in the renewable energy, gas and electricity, smart cities, and water meter markets across the APAC region, the Middle East, and the USA. The company is focused on revenue growth, expanding into new markets, and strengthening its balance sheet to achieve positive cashflow.