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X2M Connect Limited (ASX:X2M)

ALERT: Price-sensitive ASX Announcement for X2M
Current share price for X2M : $0.005 0.001 (25%)+
Announcement
Release
25 May 2026 8:25AM
Price at Release
$0.004
Full Release
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Summary
X2M Connect Limited has launched South Korea’s first AI-enabled integrated smart water meter, designed to maintain connectivity even in flooded conditions. This innovation addresses a major connectivity gap in South Korea, where water meters and communication modules have typically been sold separately, leading to higher costs. X2M's new solution combines these components, reducing costs by 30% and generating higher per-unit revenue. Engaged by South Korea's largest water manager, X2M has received a manufacturing license and secured two years of contract access without tenders, targeting a significant market opportunity estimated at $1.3 billion with $52 million in annual recurring revenue. This initiative not only streamlines operations but also ensures that every meter connects to X2M's platform, driving recurring SaaS revenue. CEO Mohan Jesudason emphasizes the substantial commercial prospects presented by this development.
Key Points
  • X2M launches Smart Water Meter in South Korea.
  • The smart meter maintains connectivity underwater.
  • Engaged by South Korea’s largest water manager, X2M aimed to solve connectivity issues and cut costs.
  • The solution integrates the meter and network interface card, reducing costs by 30%.
  • X2M obtained a manufacturing license to produce and sell smart water meters.
  • X2M's smart meter is South Korea's first AI-enabled integrated water meter.
  • The South Korean water meter market is worth $1.3 billion with a $52 million annual recurring revenue potential.
  • X2M has two years of non-tender contract access with South Korean municipalities.
  • Every meter connects to X2M's platform, generating recurring SaaS revenue.
  • X2M CEO Mohan Jesudason highlights significant commercial opportunities.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.