X2M Connect (ASX: X2M) has announced the launch of ‘Hive.AI by X2M,’ a new AI-enabled solution aimed at improving operational efficiencies and revenue for renewable energy companies. The platform integrates X2M’s proprietary Internet of Things (IoT) technology with artificial intelligence and machine learning capabilities, offering an end-to-end system for data aggregation and performance optimisation.
X2M is collaborating with Sirius Digitech to deploy ‘Hive.AI by X2M’ in the Asia-Pacific (APAC) region, where the renewable energy market is valued at US$491 billion (2022). The platform is designed to enhance forecasting, asset management, and operational decision-making by analysing climate conditions, peak demand periods, power generation equipment, and other key variables.
Chief Executive Officer Mohan Jesudason described the launch as part of X2M’s broader move into data aggregation and AI applications, stating that the company’s IoT platform will play a crucial role in supplying high-quality data for AI-driven insights. The new solution is expected to contribute to X2M’s recurring and SaaS revenues, supplementing its existing device-based revenue model.
X2M is also expanding its presence in the Middle East, having secured a licensing agreement with Dicode Smart Connect Electronics LLC (DSCE), a Dubai-based company. This move aligns with X2M’s strategy to broaden its reach beyond APAC, where it already operates in Australia, Japan, Korea, and Taiwan.
The company sees ‘Hive.AI by X2M’ as a critical step in supporting renewable energy providers as they adapt to increasing regulatory requirements and volatile market conditions. X2M will continue to update investors as the rollout progresses.
