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Aeris environmental on wards and upwards from here
26 February 2015
Aeris Environmental Ltd (ASX:AEI) is pleased to provide its half-year accounts for the period ended 31 December 2014. As previously reported, receipts in the December 2014 half were not material and reflected pre-commercial activity, which successfully resulted in significant customer purchase orders in the first month of the March 2015 quarter, combined with an unprecedented forward pipeline of revenue opportunities. The Company continues to make substantial progress in the commercialisation of its SmartENERGY and coatings platforms, and the recent commercial installation of Aeris’ products in the first building for Spotlight Retail Group has now been completed and invoiced. The Company significantly exceeded its targeted energy reduction for Spotlight of 22.6%, which, alongside the material improvements in indoor air quality, system efficiency and validated carbon reduction, provided the client with a highly-attractive return on investment. The Aeris pipeline of purchase orders and near-term commercial projects is substantially strengthening in the March 2015 quarter. Aditionally, the Company has issued final quotes targeting near-term purchase orders for a large-scale international coatings application and additional highprofile retail projects. Aeris is currently scaling-up its production capability across Asia, the United States and Australia, which will drive both the Company’s ability to support the supply chain of its customers and improve Aeris’ competitive position in the global coatings market. The Company continues to work successfully with an increasing range of customers across Australia and the Asia Pacific rim, including high-profile national shopping centres, and retail, property, healthcare and Government groups. Each SmartENERGY installation to-date has met or exceeded Aeris’ projected energy and system efficiency benchmarks. Aeris is engaged with both local and international distribution partners who are successfully investing in ramping-up sales and marketing activities, with meaningful revenue targeted in the near-term. Consistent with the Company’s stated objectives, Aeris continues to expand both its local sales and technical team. The Company previously reported that it has engaged with a number of energy retailers who are progressively introducing Aeris to their key large-scale national accounts. The Company also has a number of independently-monitored commercial reference projects that, when completed in the coming months, should establish the Aeris’ position as the emerging leader in both energy and peak demand reduction. On 19 December 2014 the Company announced to the ASX that it had raised a total of $5,005,444 through the issue of 22,752,018 new shares in a placement to a group of professional, sophisticated and other investors. Aeris was particularly pleased to receive the support of some of Australia’s leading institutional investors, including Regal Funds Management and Allan Gray Australia. Beyond the Company’s growing commercial traction for both SmartENERGY and its coatings platforms, Aeris has attracted the interest of a number of global corporations with a direct interest in the building management, HVAC and refrigeration sectors who are exploring the opportunity for a commercial alignment and partnership for their large-scale clients around the world. Subsequent to the end of the December 2014 half-year, the Company received purchase orders and invoiced in excess of $400,000, and commercial momentum continues to trend strongly. Aeris looks forward to updating the market progressively as a number of pivotal projects and partnerships come to commercial fruition. Aeris Environmental Ltd Peter Bush Chief Executive Officer