Spectur signs $1.07m contract to provide security solutions to Optus

Highlights

• Spectur signs a two-year Master Supply Agreement with Singapore Telecommunications Limited (Singtel), with the contract value estimated at $1.068m.
• Spectur is in ongoing dialogue with other telecommunications providers relating to the potential provision of solar powered security solutions.

Thursday 18 November 2021: Solar security, sensing and visual AI solutions and platforms company Spectur Limited (ASX: SP3) (Spectur or the Company) is pleased to announce the signing of contracts which will provide for a multi-year rollout of Spectur hardware, services and software subscriptions to protect and service remote assets of Australian telecommunications leader Optus.

The key contracts signed include:

• A Master Supply Agreement (MSA) (base terms and Goods & Services Module) with Singapore Telecommunications Limited (Singtel), for a 5 year term.
• A Statement of Works (SoW) that operates within this MSA, applying to Singtel Optus Pty Limited (Optus) assets within Australia, for a 2 year term.

The contracts supersede an existing SoW which has allowed for Spectur’s provision of solar powered security hardware, field and monitoring services, and software subscriptions suitable for security applications on remote Optus assets across Australia.

Including Spectur systems that were installed with Optus in 2021 prior to the signing of this contract, current estimated contract value for the two year duration of the SoW is $1.068m. Revenues earned to date under this contract are approximately $230k (for 49 systems), therefore, new contract value signed under the agreements announced today total approximately $838k.

The next phase of work to be delivered, between the signing of the MSA and 31 March 2022 (Phase 1 of current SoW), is valued at approximately $340k (for 66 additional systems). Works will be executed under a schedule of rates framework.

Spectur Managing Director, Gerard Dyson, said:

“This is a milestone award for us within Spectur and reflects the long term investment we have made in providing solutions for Optus and the telecommunications industry. Through trialling and optimisation, integration of software systems and a constructive working relationship, Optus and Spectur have arrived at a solution that has a substantial positive impact. We look forward to rolling out this solution at scale and continuing to grow our relationship with Optus through this SoW and future additions.

“Spectur continues to engage with other utilities providers around supplying similar services that have demonstrated a beneficial outcome. Being able to integrate Spectur software and collected data with existing systems and providers, as well as design and build optimised solar-wireless hardware solutions, provides Spectur with a unique platform to support our customers and our communities.”