These products will be sold into commercial and residential development projects throughout New South Wales and the Australian Capital Territory.
Quantify Technology develops IoT hardware and software that enable the monitoring and management of lighting, power, heating and cooling systems installed in buildings.
Its patented flagship product, the Q Device, provides real-time evaluation of environmental and risk factors for building occupants and efficiently manages services and utilities.
Under the new agreement, Quantify will establish a demonstration facility at HNCD’s showroom at Taren Point in New South Wales.
Harvey Norman (ASX:HVN) is a large Australian retailer of furniture and household appliances and HNCD NSW/ACT is Harvey Norman’s largest franchisee.
It is estimated that in three to five years, sales of Quantify’s products derived from this agreement could potentially reach $20 - $30 million per year.
Quantify and HNCD are currently finalising reseller/distribution agreements and supply contracts with individual developers for specific projects.
The company’s shares closed circa 4% higher on Monday, at $0.082.