June 19th 2019
• Optus and Freestyle have executed a Master Supply Agreement, making Freestyle an official supplier to Optus, and a Master SoW Agreement, delineating commercial terms for the Freestyle product portfolio for all specific customer engagements.
• The first objective of the partnership to target the growing demand for energy and water-efficient buildings in Australia.
• According to EY, the building sector in Australia accounts for approximately 19% of total energy consumption and 23% of overall GHG emissions. Commercial buildings account for half of this amount or 10% of Australia’s overall energy consumption. In 2015, commercial office stock equated to nearly 25 million square meters with an average age of 27 years.
• It is common for these older buildings to have analogue water, gas and electricity meters requiring manual meter reads. Because manual reads are costly many of these buildings charge their tenants on the basis of total consumption (at the main meter) divided by the number of tenancies, meaning high-usage tenancies are subsidised by low-usage tenancies, eliminating incentives for efficient use. Moreover, leakage of water is not identified till well after the fact posing risks of property damage and bill shock. Freestyle can detect gas leakage in a timely fashion, mitigating safety hazards.
• The Freestyle IoT Platform on the Optus NB-IoT network provides for per tenant-based billing and timely water / gas leak identification, saving time and money – even for buildings with ‘dumb’ legacy meters. A successful trial at a major shopping centre in Sydney has confirmed the benefits. The solution can be extended to address all critical utility services – including electricity monitoring, heating/ventilation/AC control, stable renewable energy integration and fast electric vehicle charging.
• The agreement enables Optus and Freestyle to uplift the Sydney trial into a production deployment and to replicate such deployments with any Optus Business customer – spanning tens of thousands of tenancies across hundreds of buildings across Australia.
• Mohan Jesudason, CEO and MD of Freestyle said “We are pleased to be combining our world-class IoT platform and Optus’ world-class networks to bring tangible value to commercial building operations. By enabling user-pays billing and timely leakage detection, we can save money, reduce risks of property damage and conserve scarce natural resources.”
• About Optus: Optus is a world-class provider of telecommunications networks in Australia, including networks underpinning IoT solutions provided by Freestyle. Optus is 100% owned by the SingTel Group – which has a presence, across Asia-Pacific.
• About Freestyle: Freestyle Technology Limited is a provider of money/time/resource-saving IoT Solutions for critical water, gas, electricity and renewable energy grids and microgrids. Freestyle has commercial operations in Korea, Taiwan, Japan and Australia.
Sundar Iyer, GM Global Products & Markets
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