The Australian market is a tad brighter today with the news that Vivid Technology (ASX: VIV) and Origin Energy (ASX: ORG) have partnered to develop LightingFlex, a “lighting-as-a-service” product, leveraging Vivid Technology’s award-winning Internet-of-Things (IoT) lighting platform MATRIXX.
Origin Energy is a multibillion-dollar giant that’s currently one of the leading energy providers in Australia. Last year, Origin supplied electricity to 4.2 million customers and is also developing and producing natural gas as part of its diversified energy portfolio.
With the addition of LightingFlex, Origin is hoping to expand its “one-stop shop” capability, providing a diverse range of energy efficiency and renewable solutions to large energy users.
Meanwhile, for Vivid Technology, the deal is both a superb validator of its technology and could potentially serve as the springboard for additional deals with other energy providers.
According to Origin, the partnership highlights its continued transition to a “cleaner and smarter energy future”, with a growing large-scale wind and solar portfolio, coupled with a market leading position in commercial solar sales and battery storage.
VIV Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
