X2M Connect Limited
AASX:X2M0.00
AUD
+0.00
(+33.33%)
X2M Connect Limited
ASX:X2M
(Australian Securities Exchange)
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ROIC.AI
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- X2M Connect Limited (ASX:X2M), founded in 2019 and headquartered in Mount Waverley, Victoria, Australia, develops and commercializes a patented proprietary Internet of Things (IoT) technology platform that delivers productivity improvements, cost savings and enhanced public safety to enterprise and government customers, with a primary focus on the utilities sector in the Asia-Pacific region; the platform connects over 540,000 devices including water meters, gas pressure sensors, electricity grid management systems, energy optimization tools, air conditioning systems, solar systems, electric vehicle charging stations and portable safety alarms such as the "Help Me" keychain devices, enabling real-time data exchange, remote monitoring, control and AI-driven analytics through its distributed intelligence Microengine solution, SaaS-based IoT hubs and cloud partnerships with providers like AWS and KT; operations span South Korea, Taiwan, Japan, China, Australia and recent expansions into the Middle East via Dicode Technologies in the UAE, India and renewable energy markets through partners like GreenRock in Taiwan and Azbil Kimmon in Japan, with Far EasTone providing telecommunications support in Taiwan. In recent developments, the company secured over $5.5 million in South Korean contracts during the fourth quarter of fiscal 2025 for water-meter monitoring across cities including Yongin, Gimcheon and Gapyeong, a $3 million deal for 100,000 portable safety alarms in Seoul's 2025 public protection initiative, a $1.7 million water monitoring contract in April 2025, $1.3 million in China and South Korea contracts including water quality sensors, strategic refocus in late 2025 to exit unprofitable projects and streamline expenses for enhanced profitability, launch of the AI-powered "Hive.ai by X2M" suite for renewable energy optimization and battery storage, and fundraising to accelerate market entry in the UAE, India and Australia while advancing global scaling.