Two months into a corporate strategy to target the lucrative Chinese market, Australian environmental management tech firm Envirosuite (ASX: EVS) is set to partner with Sailhero, a major China-based company to tackle pollution.
With a market cap of USD$4.3 billion, environmental protection group Sailhero has access to 30% of the air pollution market in China with a major focus of the company to provide city-wide monitoring for government clients.
Whilst no financial terms have been confirmed between the two companies, they will seek to collaborate on projects in China that will provide enhanced environmental management solutions.
“It is highly significant that within two months of commencing our China focus we have managed to extend our reach into a new province with a major listed company that perfectly complements our offering,” said Envirosuite CEO, Peter White.
“Even more significant is that Sailhero, a company that has been a pioneer and the dominant market player in providing air quality monitoring equipment for over two decades, has decided to partner with Envirosuite to help extend their solutions in identification of sources of pollution.”
The partnership is the second one secured by Envirosuite in China where data collected and processed will be integrated into the Envirosuite platform which has been built off the back of more than 30 years of environmental consulting.
Key to the partnership will be accessing costly monitoring equipment which Sailhero are already in possession of, which will enable accurate and reliable data to be fed into the Envirosuite platform.
Upon commencement, the partnership will initially focus on monitoring odor, air and noise to integrate Envirosuite’s predictive capabilities.
Shares in Envirosuite have achieved significant gains since the start of 2019 when trading at $0.07 per share and reached an intra-day high of $0.33 in early morning trade.
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