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Aeeris’ Breakthrough Partnership Drives Customer Acquisitions and Major Contract Renewals
This online article originally appeared in the online edition of the Australian, 15 July, 2024
- Weather tech firm Aeeris draws new customers with Tomorrow.io offering
- Strategic partnership sets new industry standard
- Aeeris also announces major contract renewals
Special report: ASX environmental services firm Aeeris has locked in a contract renewal with one of Australia’s largest insurance providers and brought new customers on board for its severe weather and natural hazard forecasting, reaping significant rewards from a strategic partnership with global weather resilience leader Tomorrow.io.
It has announced a slew of new customers and major contract renewals, with two new customers signing up through the Tomorrow.io partnership.
Aeeris (ASX:AER), the parent company of Early Warning Network, is a leader in severe weather and natural hazard forecasting, alerting, and climate risk reporting, used by some of Australia's biggest insurers and councils.
The company’s 24-7 monitoring team is backed by proprietary technology and has access to the most granular weather modelling information in the country.
Tomorrow.io’s hyper-precise weather forecasting platform uses AI and the world’s first commercially built weather-radar satellites. It serves major clients like US airlines, Google, Amazon, Microsoft, and the US Air Force.
The integration of Tomorrow.io’s technology into Aeeris’ system provides EWN clients with unparalleled detailed weather data, offering real-time insights and alerts about potential weather threats.
Transformative alliance
Aeeris founder and CEO Kerry Plowright emphasised the transformative impact of the alliance.
“This partnership represents a transformative leap in predictive capabilities, ensuring that businesses and communities across Australia can act with unprecedented foresight in weather-related decisions,” he said.
The strategic union is already bearing fruit, with Aeeris securing agreements with two additional significant industry players during Q4. These new clients, spanning diverse sectors, follow the recent onboarding of the partnership’s inaugural client.
Further solidifying its market position, Aeeris has renewed its contract with Australia's largest insurance provider through EWN. This renewal, structured for a 5-year term (3+2), highlights the enduring confidence in Aeeris' advanced technology and strategic vision.
“It signifies not only the robustness of our Early Warning Network but also the trust our clients place in our commitment to innovation and strategic excellence,” Plowright said.
“Our continued collaboration is a testament to the value and reliability of Aeeris' technology in safeguarding communities and assets across Australia."
In another pivotal achievement, Aeeris' Climatics division has secured a 12-month contract renewal with one of Australia's largest supermarket chains which now also includes expanding into New Zealand. Plowright noted that this regional growth strategy underscores Aeeris' expanding footprint in providing crucial historical climate data.
“This approach not only broadens our reach but also enhances our ability to support clients with precise and valuable insights. We are committed to advancing our capabilities and continuing to be a trusted source of critical climate information,” he said.
Growing demand
Aeeris's recent financial results highlight the growing demand for advanced weather intelligence solutions in Australia.
The company reported a significant increase in sales and marketing activities, driven by heightened regulatory reporting requirements and increased risk awareness among businesses.
Key highlights include a 40% surge in cash flow and customer receipts compared to the previous year’s corresponding period, with notable contributions from the Hail product suite due to early-season hail events.