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Safety first: The only company tapping into this $360m market

May 25, 2022

Safety first: The only company tapping into this $360m market

When Optus needed a solution to ongoing theft and disruption at their remote mobile phone tower sites, they turned to a tech start-up for help. Spectur’s innovative technology led to such a marked reduction in crime that Optus now relies on it to protect more than 100 locations.

When Optus needed a solution to ongoing theft and disruption at their remote mobile phone tower sites, they turned to a tech start-up for help. Spectur’s innovative technology led to such a marked reduction in crime that Optus now relies on it to protect more than 100 locations.

Most central business districts are today saturated with CCTV and safety camera networks, which play a key role in keeping communities safe, minimising anti-social behaviour and criminal activity, and assisting in emergency situations and disaster recovery.

But it’s a different story when it comes to protecting people and property in off-the-grid settings and remote areas, where power and internet connections are not readily available and it’s challenging for humans to provide security services. In this niche Spectur has no peers, leading them to identify ‘doing nothing’ as their main competitor in a near-term $360 million-plus market.

Their autonomous systems are solar-powered, wirelessly connected and managed by artificial intelligence and fog computing provided by CSIRO’s Data61 digital research labs. This enables them to distinguish people and vehicles from false alarms, and to actively respond to intruders with bright lights, loud spoken warnings, and internet or app alerts and more.

Beyond surveillance and security, the mobile and modular units can also be deployed in a huge range of other roles, from smart bushfire detection to monitoring environmental impacts, operating digital sign boards and preventing illegal dumping.

From a client perspective, Spectur provides a turnkey solution of hardware, software and an app that makes managing the system easy. And their technology platform’s ability to sense, think and act independently can be adapted to customers’ unique needs, integrating with third-party sensors and applications to interpret data and trigger many different actions remotely and independently.

In Western Australia, for example, it is used to protect swimmers from shark attacks. Working with Western Australia’s Department of Fisheries, Spectur’s system integrates with sensors that detect nearby tagged sharks to then issue warnings with visual alarms and voice instructions audible to swimmers hundreds of metres away.

On NSW beaches, potential heart attack victims have used the Spectur platform’s two-way communication capabilities to contact paramedics, who arrived in time to provide medical assistance.

And in Victoria, a single local government authority has issued almost 400 citations for illegal dumping identified by Spectur’s platform.

Construction companies have reported the Spectur system reduces the incidence of building site crime by over 90%. And on the rare occasions where crime persists, it becomes very small-scale and time-constrained.

Spectur has over 2000 active systems and more than 500 active customers across Australia and New Zealand, including utilities, government institutions and military bases. In these markets, the fact that the platform is 100% Australian designed, manufactured and coded, providing the highest standards of data security, is a significant advantage.

The business is fully vertically integrated, with all processes from R&D through to sales internalised. This allows it to be flexible when it comes to addressing customer needs.

Spectur offers a variety of different platforms for sale, either individually or as multi-system set-ups. It also provides rental and leasing options, as well as a wide range of professional services, including development, customisation and integrations, which together generate a significant recurring income for the company.

The business launched in WA and quickly grew to control around 25% of the state’s total addressable market. It is now in the process of expanding nationally, and aims to replicate this success across New Zealand and then select US states, where trials are currently underway.

Growth has been strong since listing in 2017, with revenue more than doubling from $2.55 million to $5.25 million from FY18 to FY21, despite COVID-related disruptions. In November 2021, Spectur signed a multi-year agreement with Singtel (Optus) to provide security solutions, proving its ability to win and execute large-scale institutional contracts with demanding clients. 

With a competitive technological and first-mover advantage, proven products, an established track record and a clear vision, Spectur believes it is ideally positioned to exploit myriad potential markets and opportunities in the years ahead.

Spectur CEO Gerard Dyson will be holding an investor briefing tonight, Wednesday 25th May at 7pm (AEST), where he will discuss how the company has quickly grown to dominate its home market in WA and its plans to replicate this success in an identified near-term $360 million-plus market. Click here to book in.

Reach Corporate provides Corporate Advisory Services, including managing investor communications on behalf of Spectur Limited and will receive fees for its services.

Sources


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