SIMPPLE Ltd. secures a $400,000 contract for autonomous cleaning robots at Singapore's airport, enhancing its operational capabilities.
Quiver AI Summary
SIMPPLE Ltd. has announced a $400,000 contract for the supply of autonomous cleaning robots at a terminal of Singapore's international airport, following a successful tender as part of the airport's renewal program. This contract continues SIMPPLE's partnership with the airport, where the company has been a key robotic supplier for the past five years. The company anticipates further announcements regarding additional contracts valued at about $1.8 million as part of an ongoing tender process for other terminals. CEO Norman Schroeder emphasized the company's commitment to supporting advanced facility management through their expertise in aviation and autonomous robotics. SIMPPLE, established in 2016, serves a broad client base in the facilities management sector, extending its services beyond Singapore.
Potential Positives
- SIMPPLE Ltd. has secured a significant $400,000 contract for supplying autonomous cleaning robotics at a major international airport in Singapore, reinforcing its position in the facilities management sector.
- This contract win highlights the company's established relationship with the airport and its expertise in autonomous robotic operations, positioning it favorably for future opportunities.
- The ongoing tender exercise for additional airport terminals could result in an aggregate contract value of $1.8 million, indicating substantial growth potential for the company.
- SIMPPLE's successful delivery of services in a prestigious multinational setting showcases its capabilities and could enhance its reputation and attractiveness to other potential clients in the industry.
Potential Negatives
- The press release includes a significant emphasis on forward-looking statements, indicating uncertainty in the Company's future performance and growth prospects.
- Despite winning a $400,000 contract, there is potential risk associated with the ongoing tender exercise for the remaining airport terminals, with no guarantee the Company will secure additional contracts from that aggregate value of $1.8 million.
- The mention of competitive environments and the ability to keep pace with new technologies suggests ongoing challenges that the Company may face in maintaining its market position.
FAQ
What is the recent contract awarded to SIMPPLE Ltd.?
SIMPPLE Ltd. was awarded a $400,000 contract for supplying autonomous cleaning robotics at a Singapore airport terminal.
How long has SIMPPLE been a supplier for airport robotics?
SIMPPLE has been one of two incumbent robotic suppliers for the Singapore airport for the past five years.
What is the expected total value of upcoming contracts for airport terminals?
The expected aggregate contract value for remaining airport terminals is $1.8 million.
What technology does SIMPPLE Ltd. provide for facility management?
SIMPPLE provides advanced technology solutions, including autonomous robotics and IoT devices, for smart facility management.
How many clients does SIMPPLE currently serve?
SIMPPLE serves over 60 clients across both public and private sectors in Singapore and beyond.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$SPPL Hedge Fund Activity
We have seen 1 institutional investors add shares of $SPPL stock to their portfolio, and 4 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HRT FINANCIAL LP removed 47,831 shares (-100.0%) from their portfolio in Q2 2024
- VIRTU FINANCIAL LLC removed 45,502 shares (-100.0%) from their portfolio in Q2 2024
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 14,102 shares (+inf%) to their portfolio in Q3 2024
- TWO SIGMA SECURITIES, LLC removed 13,758 shares (-100.0%) from their portfolio in Q2 2024
- XTX TOPCO LTD removed 13,442 shares (-100.0%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
Singapore, Nov. 15, 2024 (GLOBE NEWSWIRE) --
SIMPPLE Ltd. (Nasdaq: SPPL) ("SIMPPLE" or "the Company"),
a leading technology provider and innovator in the facilities management (FM) sector, today announced that the Company has been awarded a $400,000 contract for the supply of autonomous cleaning robotics at one of Singapore's international airport terminals.
This robot tender success comes as part of the airport's renewal program and complements the existing fleet of autonomous cleaning robots across its airport terminals, where the Company has been one of two incumbent robotic suppliers for the past five years.
The results of the ongoing tender exercise for the remaining airport terminals will be announced in the near future, with an expected aggregate contract value of $1.8 million.
"SIMPPLE is honoured to partner Singapore's airport team on this exciting and transformative journey," said Norman Schroeder, chief executive of SIMPPLE Ltd. "We combine decades of experience in the aviation sector as well as autonomous robotic operations and will continue to support forward-looking asset owners to enable smart facility management. This contract win is a testament to the team's capabilities and, going forward, have positioned ourselves as proven experts to deliver more SIMPPLE Robotics to other terminals."
Beyond being one of the largest airports in Asia with more than 1,300 hectares of land coverage, the Singapore international airport has also won the best airport award globally for multiple years. With an annual passenger movement of approximately 60 million, the Singapore airport had announced plans to expand and provide for future capacity, as well as position itself as a world-class air hub equipped with advanced fit-for-purpose technologies.
About SIMPPLE LTD.
Headquartered in Singapore, SIMPPLE LTD. is an advanced technology solution provider in the emerging PropTech space, focused on helping facilities owners and managers manage facilities autonomously. Founded in 2016, the Company has a strong foothold in the Singapore facilities management market, serving over 60 clients in both the public and private sectors and extending out of Singapore into Australia and the Middle East. The Company has developed its proprietary SIMPPLE Ecosystem, to create an automated workforce management tool for building maintenance, surveillance and cleaning comprised of a mix of software and hardware solutions such as robotics (both cleaning and security) and Internet-of-Things ("IoT") devices.
For more information on SIMPPLE, please visit:
Safe Harbour Statement
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement.
Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
For investor and media inquiries, please contact:
SIMPPLE LTD.
Investor Relations Department
Email:
ir@simpple.ai
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, NY 10036
Tel: (646) 893-5835
Email:
info@skylineccg.com
