Company Update
Melbourne, July 17, 2017 AEST (ABN Newswire) - Xped Limited (
ASX:XPE) ("Xped" or "the Company") is pleased to provide this market update regarding recent progress and developments.
Highlights
- Government R&D Grants Received
- Successful Smart Home Demonstration
- JCT Lightsview Demonstration
- HR and Expenditure Review
Government R&D Grants Received
Xped subsidiary Jackson Care Technologies Pty Ltd was successful in being awarded two separate Research and Development grants from TechinSA. TechinSA is the South Australian Government's Hi-Tech Agency providing funding assistance to companies with innovative products and technologies. These grants have a value of $50,000 and $273,795. The $50,000 grant was to enable Jackson Care Technologies to scope and generate a proof of concept of a new video analytics technology aimed at the disability and aged care markets. The $273,795 grant is currently being used to enable Jackson Care Technologies to complete the development of the video analytics technology.
Successful Smart Home Demonstration - Asian Based Telecommunication Provider
Xped recently provided a successful demonstration of a smart home solution to a telecommunication provider based in the Asian region. This demonstration utilised the Xped App, white labelled for the customer, used to monitor and control several smart home devices. These included Philips Hue lights, door/window sensors, and an environmental sensor. A rule based action was demonstrated where the lights were turned on and off automatically by the change in the door sensor state. Additional sensors and functionality are now being added to the offering. The Company will work with the telco and their partner organisations to deploy the smart home demonstration solution into their show centre and some demonstration homes. The Company is excited about this opportunity and will provide further updates to the market as progress is made.
JCT Lightsview Demonstration
Xped subsidiary JCT Healthcare demonstrated their technology solution to senior representatives of Disability SA (the client), as well as a representative from the SA Government. As previously announced the Lightsview Project is an enhancement of JCTs existing Nucams software integrated with a newly developed Next Gen JCT mobile app, the Xped developed Camera Manager and Smart Home Controls. A newly developed neural network based video analytics engine is currently being integrated to detect various types of falls to eliminate the need for wearable fall detection sensors.
The project and the technology being developed for this project has received considerable attention from other care providers and this solution is a key driver for revenue growth for JCT.
Human Resources & Expenditure Review
The Company engaged TBH Consulting in June to complete a Human Resources review, with a focus on improving efficiencies in Engineering and Product Delivery. The criteria were established and individual meetings were held with Xped employees and the HR consultant. Subsequent meetings with management and members of the board were completed. The results of this review identified significant opportunity to improve efficiencies and shorten delivery times for material projects and near-term revenue opportunities that are significantly important to the short-term performance of the company.
Xped has since implemented a new organisational structure together with new cost centres, recruited important additional engineering talent to the company, and further bolstered its project management capabilities. The company expects to see positive flow on effects from these changes.
The Company has now commenced a salary and costs review with a view to providing savings for Xped. Further updates will be made to the market in due course.
To view Xped Organisational Structure, please visit:
http://abnnewswire.net/lnk/S7B11D11
About XPED Ltd
XPED Ltd (ASX:XPE) is an Australian Internet of Things (“IoT”) technology business. Xped has developed revolutionary and patent-protected technology that allows any consumer, regardless of their technical capability, to connect, monitor and control devices and appliances found in our everyday environment. Xped provides technology solutions for Smart Home, Smart Building, and Healthcare.
At Xped, we’re Making Technology Easy Again(TM)
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