CCP Technologies is set for accelerated growth

CCP Technologies Limited (ASX: CT1) (the “Company”) has signed two new partnership agreements that to drive sales growthadd significant distribution reach to CCP’s expanding network. The agreements with ASX-listed IT hardware, software and cloud distributor, Dicker Data (ASX: DDR) and Channon Refrigeration provide CCP with market access to thousands of potential customers with millions of monitoring points.

CCP provides its critical control point management solution to a growing list of businesses in Australia and North America; and has recently announced expansion into Singapore. The Company derives solution-as-a-service (SaaS) revenue from its Internet of Things (IoT) solution. Customers use CCP to underpin food safety compliance, reduce costs and harness business improvement.

The two new agreements expand CCP’s access to customers in its A reseller agreement with Channon Refrigeration, a well-known supplier of refrigeration equipment and services across the hospitality sector, as well as a distribution agreement with ASX-listed hardware distributor, Dicker Data (ASX: DDR), significantly increases the number of touch points able to sell CCP’s Internet of Things (IoT) monitoring solution.

CCP provides their critical control point management solution to a growing list of hospitality businesses in Australia and North America; and has recently announced its expansion into Singapore. The company’s low-cost wireless Internet of Things (IoT) solution includes refrigeration temperature monitoring to underpin food safety compliance, reduced costs and business improvement.

CCP is initially focusing its sales effort on the food industry market – the world’s largest industry. The potential combined market opportunity for CCP in Australia and North America is estimated to represent 470 million monitoring points. The company charges $15/month/monitoring point on a 24-month contract.

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Michael White, Executive Director & CEO of CCP said,

“The two agreements cost-effectively increase CCP’s sales channels.”

CCP’s estimates over 7,000 food service outlets and 3,000 convenience stores in the Singapore region.

Dicker Data is known as Australia’s leading ICT distributor with 5,000 resellers in its network; and Channon Refrigeration is a well-known Sydney-based supplier of refrigeration equipment and services.

“CCP is delighted to secure Dicker Data as a distributor. By any measure, they are a high-calibre channel partner. Given the millions of monitoring points across the customer base of Dicker Data’s reseller network, the opportunities for market penetration are significant”, Mr White said.

The recently announced the reseller agreement with Channon Refrigeration, has acknowledged the benefits of the company’s wireless IoT monitoring solution.

Established in 1976, Channon Refrigeration Channon’s is a leading provider of commercial cooking and refrigeration equipment to Australia’s hospitality food industry, . Channon Refrigeration supplies refrigeration equipment and services to a large range of businesses including hotels, clubs, cafes, breweries, restaurants, supermarkets, fast-food chains, including Clubs Australia. With CCP installed at a customer site, their national network of fully qualified technicians can quickly respond to any alert or predictive maintenance notification before the customer know there’s a problem.

The agreement will support CCP’s growth by expanding its reach to the food industry.

Michael White, Executive Director and CEO of CCP said,

“This is an exciting channel partnership for CCP. Channon’s are well-known in the industry and this agreement takes them into providing proactive refrigeration services. Initially, the agreement estimates sales of 2,000 monitoring points and supports our growth by expanding CCP’s reach to the food industry in the first XX months”, Mr White said.”

Channon Refrigeration supplies refrigeration equipment and services to a large range of businesses including hotels, clubs, cafes, breweries, restaurants, supermarkets, fast-food chains, including Clubs Australia.

CCP’s national expansion continues with the signing of a distribution agreement with Dicker Data. With over 35 years of experience, Dicker Data is currently positioned as the leading distributor for several leading vendors in Australia, selling exclusively to over 3000 resellers nationally.

White says “There’s one distribution partner the world’s leading technology companies select to represent their products in the Australian market, and that’s Dicker Data. 

“CCP is delighted to have such a high-calibre channel partner. Dicker Data’s reach in Australia will significantly increase our opportunity to expand in 2018. Given the millions of monitoring points across the customer base of Dicker Data’s reseller network the opportunities for market penetration are significant.”

TMT Analytics, who ‘provides institutional- grade equities research for companies in the Technology, Media and Telecom sectors’, issued a research report on CCP. The report,  highlightsing the importance of channel partnerships to expedite the company’s Company’s commercial roll-out.

The agreements with Dicker Data and Channon’s follow the recently announced US channel partnership with the Shamrock Group – a Minneapolis-based refrigeration, ice and beverage product and service company. Additionally, CCP has also announced a developing global relationship with Vodafone and partnerships with Sigfox operators in the USA, Australia and Singapore.

White concluded, “By building a strategic partner network, CCCCP Technologies is set for accelerated growthP anticipates rapid growth and expansion of its install base. We already have over 50,000 monitoring points in our sales pipeline and by on-boarding channel partners, we expect that number to increase significantly in the coming months.”

TMT Analytics’ research report is available at: www.ccp-technologies.com