The company could increase its project deployment by 2.4 times with the new sites, says CEO
by NUR HAZIQAH A MALEK / Pic by TMR FILE PIX
SEDANIA Innovator Bhd’s subsidiary, Sedania Technologies Sdn Bhd, has received an additional award from a telecommunications client to expand its greentech solutions from the current 10 sites to 34.
Sedania CEO Daniel Ruppert (picture) stated that the company could increase its project deployment by 2.4 times with the new sites.
“We are aiming to complete all additional 24 new sites this year if the lockdown restrictions allow,” Ruppert said in a statement yesterday.
He said for the data exchange buildings, Sedania greentech solutions consist of equipment, software and the Internet of Things (IoT) for real-time monitoring.
The company has bundled its greentech solutions with an energy audit, system design and maintenance services.
Going forward, he said the company would not only look inside the buildings, but also on top of the buildings for suitable solar installations as part of the energy audit.
“This will complete our sustainable energy services and further improve our greentech future earnings,” he said.
The additional 24 sites will be an expansion to the existing energy performance contract, which includes all measures to reduce energy cost by improving energy efficiency within the client’s facilities.
Sedania will also provide renewable energy solutions, including rooftop solar photovoltaic to further reduce energy cost and CO2 emission.
Ruppert said the project expansion was awarded based on the company’s performance on its recently completed 10 data exchange buildings, with a total energy consumption of 20 gigawatt-hours per year.
Sedania has achieved an energy-saving rate of 23%, which provides a total project revenue of RM24 million for the company based on the completed sites.
Aside from the commercial benefits, Ruppert said the project also reduces greenhouse gas emission, whereby the completed buildings have reduced 4,000 metric tonnes of CO2 emission annually, equivalent to having planted over 60,000 adult trees per year.
Sedania shares opened one sen lower before declining further by 11.95% to RM1 yesterday, giving a market capitalisation of RM345.5 million.
The technology company posted a net profit of RM4.21 million for its first quarter ended March 31, 2021, compared to a net loss of RM1.82 million last year.
Revenue increased to RM17.07 million for the quarter versus RM2.77 million a year ago, mainly attributed to higher contributions from the greentech segment and its newly acquired healthtech subsidiary.
The group is optimistic about the growth prospects with the inclusion of the healthtech segment, which is expected to support existing businesses and mitigate the risks of its ongoing businesses.