• X2M secures manufacturing license for South Korea's first AI-enabled smart water meter
• Engaged by largest South Korean water manager to address connectivity issues
• Meters connect to X2M's AI-enabling data platform, generating recurring SaaS revenue

X2M Connect Limited (ASX:X2M) has secured a manufacturing license to produce and sell South Korea's first AI-enabled separable integrated smart water meter. Engaged by South Korea's largest water manager, X2M's solution is expected to cut hardware costs by 30%. Every meter sold is expected to connect to X2M's platform, generating recurring SaaS revenue across a market of up to one million annual replacements. X2M's integrated unit combines the meter and communications module into a single separable device, maintaining continuous data flow to X2M's platform even when the pit is flooded. South Korea mandates water meter replacement every eight years, creating an annual replacement market of approximately one million units per annum. The Total Addressable Market for water meters across South Korea is estimated to be more than $1.3 billion with $52 million in annual recurring revenue.