A mounting global push for organisations to adhere to environmental, social and governance (ESG) regulations has seen increasing uptake of Envirosuite’s (ASX: EVS) environmental technology solutions in the Americas region, while demand in the US looks set to boom.
Over the 12 months ending June, Envirosuite’s annual recurring revenue for its Omnis product in the Americas has grown 34% to $13.9 million.
The company noted this growth was also at a time when the market for new projects was “heavily depressed” due to the pandemic.
“The significant tailwind of this growth puts Envirosuite in a strong position to deliver on growth for financial year 2022,” Envirosuite stated.
North American markets
With rising demand in the Americas, Envirosuite is eyeing the North American market after the US senate passed the US$1 trillion bipartisan infrastructure bill this week that includes US$97 billion of additional funding in Envirosuite’s key sectors in the region.
Water infrastructure will gain US$55 billion in funding, while US$25 billion will go to airports and ports and waterways will receive US$17 billion.
It is expected this additional funding will modernise key infrastructure assets and address environmental concerns.
Envirosuite is targeting these areas with its environmental intelligence technology. The company’s solutions are currently in more than 120 sites in the region, including 23 US states and seven Canadian provinces.
“As the infrastructure investment shows, there is intensifying focus and pressure on industries to operate in a socially responsible and sustainable way to reduce the environmental impact on neighbouring communities,” Envirosuite chief executive officer Jason Cooper said.
“Envirosuite’s environmental intelligence solutions are assisting industry every day with understanding the emissions impact they have and to manage that impact through real-time monitoring and predictive modelling,” Mr Cooper explained.
“Importantly, we help our customers meet and exceed these expectations with best-practice technology solutions, while also optimising their productive outcomes with a positive ROI.”
Mr Cooper pointed out that company’s growth during challenging times confirms its strategy that FY 2022 will see higher revenue – particularly from the Americas and North American regions.