Envirosuite Ltd (ASX:EVS) is accelerating growth in the Americas following widespread adoption of the company’s environmental intelligence solutions in North America.
The company has grown annual recurring revenue (ARR) from its EVS Omnis product in the Americas region to A$13.9 million, representing a rate of 34% in a year that the market for new projects was generally heavily depressed by the pandemic.
Envirosuite is confident that the tailwinds of this growth place it in a strong position to deliver on growth for FY2022.
Strong focus on ESG
The company's CEO Jason Cooper said: “The growth we have achieved during an incredibly challenging environment in FY21 confirms our belief that the Americas region and the North American market, in particular, will be a significant contributor to revenue growth for FY22 and beyond.
“As the infrastructure investment shows, there is intensifying focus and pressure on industries to operate in a socially responsible and sustainable way to reduce the environmental impact on neighbouring communities.
“Envirosuite’s environmental intelligence solutions are assisting industry every day with understanding the emissions impact they have and to manage that impact through real-time monitoring and predictive modelling.
“Importantly, we help our customers meet and exceed these expectations with best-practice technology solutions, while also optimising their productive outcomes with a net positive ROI. Positive action through environmental intelligence benefits everyone.”
New Tennessee contract
Envirosuite has recently signed a new contract with a county in the state of Tennessee.
The county will utilise Envirosuite’s SaaS solutions to monitor airborne pollutants and the potential emissions impact on the local community.
Notably, this means Envirosuite solutions are now in more than 120 sites in North America across 23 states in the United States and seven provinces in Canada.
US bipartisan infrastructure plan
Promisingly for Envirosuite, the US Senate recently passed the US$1 trillion bipartisan infrastructure plan that includes US$97 billion of additional funding into the company’s key sectors.
The company believes the passing of this Act by the US Senate further validates the strong tailwinds and opportunities for material growth of its environmental intelligence software solutions in the North American market and overall Americas region.
Envirosuite’s solutions help customers meet their Environmental, Social and Governance (ESG) requirements and advancement towards Sustainability Development Goals including sustainable cities and communities; industry, innovation and infrastructure; and good health and well-being.
- Ephrems Joseph