SenSen Networks Secures Major Contract in Montreal, Expands Global Reach

Key Highlights:

• Contract Win: SenSen Networks secures a five-year contract with the Agence de mobilité durable de Montréal, valued up to A$17.7M (CAD 16.1M).
• Initial Order: The contract kicks off with an initial order worth A$1.7M (CAD 1.6M) for mobile enforcement systems.
• Global Impact: This deal marks one of the largest mobile enforcement system rollouts worldwide.

SenSen Networks Ltd (ASX: SNS), a leader in smart urban management solutions, has announced a significant contract win with the Agence de mobilité durable de Montréal in Canada. The contract, which spans five years, is valued at up to A$17.7 million (CAD 16.1 million), marking a major milestone in SenSen's global expansion strategy.

The contract begins with an initial order of A$1.7 million (CAD 1.6 million) for the supply and commissioning of vehicle-mounted mobile enforcement systems. These systems will enhance parking enforcement and support sustainable mobility initiatives in Montreal, a city known for its innovative approach to urban management.

Dr. Subhash Challa, CEO of SenSen Networks, expressed his enthusiasm about the deal: 

“I am delighted that the Agence de mobilité durable de Montréal has recognized SenSen’s global leadership in this space by awarding this contract after having the opportunity to assess all offerings available in the market. This is one of the largest mobile enforcement systems rollouts in the world.”

This contract is not just a win for SenSen but also a testament to the company's cutting-edge Live Awareness AI Platform. The platform integrates data from cameras and sensors, providing actionable insights that help alleviate traffic congestion, enhance road safety, and improve urban life. Cities like Chicago, Las Vegas, and Singapore have already benefited from SenSen's innovative technology, and now Montreal joins this growing list.

The initial three-year contract includes an option for two additional years, allowing for ongoing orders for additional systems, software, and maintenance. This flexibility is expected to lead to further revenue opportunities as Montreal continues to invest in smart urban solutions.

SenSen’s forward momentum is a clear indicator of its commitment to expanding its footprint in the global market, leveraging its expertise to meet the growing demand for smart city technologies. Investors will likely view this development as a positive step toward sustained growth and value creation.

As of today’s close, SenSen Networks' shares are trading at [current share price], reflecting the market's response to this significant contract win.

About SenSen Networks Ltd:

SenSen Networks Ltd (ASX: SNS) is at the forefront of AI-driven smart urban management solutions. The company’s flagship Live Awareness AI Platform is transforming how cities manage traffic, parking, and public safety, delivering enhanced operational efficiencies and cost savings. With a global presence in cities like Chicago, Las Vegas, Vancouver, and Singapore, SenSen continues to lead the way in creating smarter, safer urban environments. 

As of the market close on August 28th, 2024, shares of SenSen Networks (ASX: SNS) were trading at A$0.035.