SenSen Networks Ltd (ASX:SNS, OTCQB:SNNSF) has inked a master services agreement with Chicago Parking Meters (CPM) to bring its sensor artificial intelligence (AI) technology to the Windy City.
Under the deal, SenSen will digitise curbs in Chicago, USA, with its sensor AI solutions, opening the door to both upfront and annual recurring revenue opportunities.
In the past, CPM undertook a proof of concept trial with the offering and has since moved to the contract stage.
Thanks to the multi-year master services agreement, SenSen will supply software and systems designed to collect real-time accurate data in and around the Chicago curb space.
Solving curbside problems
Speaking to the agreement, SenSen CEO Subhash Challa said: “We are excited to be working with CPM and the team lead by CEO Dennis Pedrelli, with the opportunity to solve many challenging problems that are unique to the curbside within the city of Chicago and CPM operations.
“We enter into a multi-year contract to deliver groundbreaking new sensor AI solutions to enhance their operations.
“This will further our leading position in the world in relation to digitizing and monitoring the curb space efficiently.”
CPM CEO Dennis Pedrelli said, “We are looking forward to working with SenSen’s technology AI tools to digitise the curb, help us to understand curb usage in real-time and manage the curb space in an efficient manner.”
Tacking international opportunities
SenSen is looking to roll out its AI-powered solutions across Australia and overseas.
In the US market, the company has set up shop with a Las Vegas office and deployed its GeminEye solution, which converts smartphones into smart AI-powered devices.
SenSen is also working to bring its smart cities parking offering to governments, with the company’s technology used by more than 20 City of Las Vegas parking officers.
This technology is also at play on home soil: the Australia-headquartered public company is rolling out the parking tech in Brisbane and trialling the solution in New Zealand, Singapore.
SenSen is also exploring opportunities with councils in the Mornington Peninsula, Adelaide and Melbourne.
Owing to its varied North American portfolio, spread out across Las Vegas, Chicago, Calgary and Edmonton, SenSen’s revenue base now completely funds its operations across the continent.