Aqura Tech wins resources contracts

Veris subsidiary Aqura Technologies has signed $2.2 million in contracts including with BHP, which will use the company’s communications services across its Pilbara mine sites.

Work under the three-year agreement has already begun, with Aqura providing managed support for all in-room and entertainment system (IRCES) services at BHP’s accommodation villages.

Aqura recently completed a WiFi rollout across BHP Iron Ore’s Yandi operations, as well as upgraded OZ Minerals’ accommodation network at a mine site in South Australia.

Aqura has also signed a five-year services agreement with ATCO Australia for a 200-seat hybrid Mitel UC environment for all office and call centre users, with work under the contact to begin this month.

Veris said neither BHP nor ATCO contracts were material in value, but were considerable due to the commercialisation of Aqura’s new product offerings.

Aqura is focused on building operating expense-friendly solutions, which Veris chairman Karl Paganin said would allow customers to engage with Aqura in a "commercially attractive manner".

“Our program to bring OPEX solutions alongside our CAPEX project work is growing not only our addressable market, it also delivers longer term visibility on our revenue streams,” Mr Paganin said.

“Aqura’s strategy of internally funding the development of these product suites during FY20 is now delivering significant momentum as we continue to grow into new segments of the market and expand our recurring revenue model.

“This is expected to provide a strong foundation for continued growth in FY21.”

Osborne Park-based Veris, formerly called OTOC, established Aqura in 2017 after the company renamed its communications division.

Veris said it was looking to broaden Aqura’s offering across a range of industries including the resources, defence, aged care and utilities sectors.

Aqura has recently secured new customers in utilities, Veris said, in addition to ongoing engagements with a number of aged care providers looking to address business challenges.

Shares in Veris were down 2.6 per cent at 3:25pm AEST to trade at 3.8 cents.