| Work Detail |
icetana Limited (ASX:ICE) has announced its first contract in Iraq, securing a US$1.09 million deal with HTE Electronics Trading LLC, the Dubai-based subsidiary of Al-Technologia Al-Alia Co. for General Trading Ltd (High Tech). The company describes itself as, a global SaaS software company providing video analytics technology designed to identify abnormal events and unexpected behaviour in real time for large-scale surveillance networks. The agreement marks icetana AIs largest-ever order for its next-generation AI video analytics software, which will be deployed as part of the Baghdad Safe City project. Following successful proof-of-concept testing in Iraq, the software demonstrated advanced capabilities, including facial and licence plate recognition (Arabic plates), fire and smoke detection, left luggage detection, unauthorised access alerts, trespass and loitering detection, people and vehicle counting, and irregular movement analysis. Contract Overview: Total value: US$1,093,475 (~A$1,719,000) Breakdown: US$874,815 for a perpetual licence + US$218,660 for the first-year maintenance agreement Revenue impact: Adds ~A$344,000 to icetana AIs Annual Recurring Revenue (ARR) Payment schedule: 20% downpayment by April 30, 2025 60% on acceptance of key functionality Final 20% within 60 days of full acceptance Deployment: Expected by May 2025 Future revenue potential: Subject to customer renewal of the US$218,660 maintenance agreement While icetana AI has an established presence in the Middle East, this deal represents its first sale in Iraq, unlocking potential expansion opportunities in the countrys growing security and surveillance sector. |
