Pointerra Limited (ASX:3DP) Awarded US$2 Million Contract Extension
Contract Award Overview
Pointerra Limited (ASX: 3DP) has secured a US$2 million (A$3.2 million) contract extension from the US Department of Energy (DOE). This contract extends an existing research and development program focused on hurricane impact analysis, initially announced on 28 June 2024.
Program Details and Objectives
The program aims to develop best practices for regional utilities to optimise resource allocation, reduce power outage durations, and enhance power grid resilience following hurricanes. Pointerra will create digital twins of electric utility grids using 2D and 3D data, analyse recent hurricane impacts, and compile methodologies into a publicly available report along with a webinar to discuss the findings.
Contract Completion Schedule
Pointerra will receive payments based on the completion of program milestones, with the contract expected to conclude by 31 December 2025. The agreement remains subject to standard commercial terms and conditions, including non-performance termination clauses.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Pointerra. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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