CCP Technologies is set for accelerated growth
CCP Technologies Limited (ASX: CT1) (the “Company”) has signed two new partnership agreements to drive sales growth. The agreements with ASX-listed IT hardware, software and cloud distributor, Dicker Data (ASX: DDR) and Channon Refrigeration provide CCP with market access to thousands of potential customers with millions of monitoring points.
CCP provides its critical control point management solution to a growing list of businesses in Australia and North America; and has recently announced expansion into Singapore. The Company derives solution-as-a-service (SaaS) revenue from its Internet of Things (IoT) solution. Customers use CCP to underpin food safety compliance, reduce costs and harness business improvement.
The two new agreements expand CCP’s access to customers in its food industry market. The potential combined market opportunity for CCP in Australia and North America is estimated to represent 470 million monitoring points. The company charges $15/month/monitoring point on a 24-month contract.
Michael White, Executive Director & CEO of CCP said,
“The two agreements cost-effectively increase CCP’s sales channels.”
Dicker Data is known as Australia’s leading ICT distributor with 5,000 resellers in its network; and Channon Refrigeration is a well-known Sydney-based supplier of refrigeration equipment and services.
“CCP is delighted to secure Dicker Data as a distributor. By any measure, they are a high-calibre channel partner. Given the millions of monitoring points across the customer base of Dicker Data’s reseller network, the opportunities for market penetration are significant”, Mr White said.
Channon Refrigeration is a leading provider to Australia’s food industry, including hotels, clubs, cafes, breweries, restaurants, supermarkets, fast-food chains, including Clubs Australia. With CCP installed at a customer site, their national network of fully qualified technicians can quickly respond to any alert or predictive maintenance notification before the customer know there’s a problem.
“This is an exciting channel partnership for CCP. Channon’s are well-known in the industry and this agreement takes them into providing proactive refrigeration services. Initially, the agreement estimates sales of 2,000 monitoring points and supports our growth by expanding CCP’s reach to the food industry”, Mr White said.
TMT Analytics, who provides institutional-grade equities research for companies in the Technology, Media and Telecom sectors, issued a research report on CCP. The report highlights the importance of channel partnerships to expedite the Company’s commercial roll-out.
The agreements with Dicker Data and Channon’s follow the recently announced US channel partnership with the Shamrock Group – a Minneapolis-based refrigeration, ice and beverage product and service company. Additionally, CCP has announced a developing global relationship with Vodafone and partnerships with Sigfox operators in the USA, Australia and Singapore.
White concluded, “By building a strategic partner network, CCP Technologies is set for accelerated growth. We already have over 50,000 monitoring points in our sales pipeline and by on-boarding channel partners, we expect that number to increase significantly in the coming months.”
TMT Analytics’ research report is available at: www.ccp-technologies.com
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