After selling its consulting business to ERM for $15 million, publicly-listed environmental software company, Envirosuite, says there is global interest in the software platform that is now the sole focus of its business.
Envirosuite today released its first annual report since the April agreement to sell its Pacific Environment Consulting practice to ERM.
The company says key market sectors for its Envirosuite software platform – which has modules on environmental monitoring, dispersion modelling, community engagement and environmental reporting – include oil and gas, mining and wastewater.
"We maintain a vigilant eye on the competitive landscape and see no direct competition emerging as yet on a whole-product basis," managing director Robin Ormerod said in the report.
"Our current client list is an impressive resume that includes all of the world's larget miners, several global service groups and the largest and most well-known groups in environmental regulation and wastewater treatment," he said.
"We are a startup that has now reached the critical expansion stage where sales start to go exponential," Ormerod said. "During the 2018 financial year we are confident that we can sign up more Envirosuite revenues than the total in the last five financial years."
The company quickly followed up today's annual report with a clarification on the annual report's statement of "continuing revenue" for FY17 of $161,000.
"Envirosuite wishes to highlight that the company had $1.5 million in annualised subscription revenue relating to the Envirosuite platform as at 30 June," the clarification said.
The majority of this revenue was held by entities sold to ERM and was therefore deemed to be discontinued in the report, it said.
"However, and for the avoidance of doubt, those contracts were transferred back to Envirosuite Ltd and its subsidiaries," it said.
Businesses using or trialing various Envirosuite modules include Rio Tinto, Glencore, Anglo American, Gladstone Ports, BHP Billiton, Thames Water and Veolia.
