Under the terms of the Agreement, the Company will supply Mears with an integrated connected home management system (the “System”). The System uses FireAngel's Wi-Safe 2 wireless interlink technology to connect the Company's smoke, heat and carbon monoxide alarms to a cloud-based system, for remote monitoring by, and instant notifications delivered to, Mears. The System includes a touch screen smart panel, and a home automation hub (which will be sold to Mears' clients) that enables continuous monitoring by Mears of the Company's alarms located within Mears' clients' properties, ensuring timely updates and notifications.
Mears has agreed to introduce FireAngel's UK Trade team to a number of its clients in the housing sector with immediate effect. Pursuant to the Agreement, FireAngel will become the preferred safety product provider for Mears, fitting FireAngel smoke, heat and carbon monoxide alarms across its UK property portfolio.
FireAngel and Mears will jointly develop the bespoke interface required to integrate the System with Mears' management control system. FireAngel will charge Mears a monthly subscription fee per connection, giving the Company a recurring revenue steam and increased visibility on its future revenues. Mears has committed to deliver a minimum number of connections during the term of the minimum three year Agreement.
The System is accessed via a wall mounted touchscreen tablet and will allow the tenants of Mears' clients' properties to review safety information, report service issues to, and schedule maintenance appointments with, Mears. The System will enable Mears' clients to streamline maintenance management processes by facilitating direct interaction with tenants when seeking to arrange repairs and maintenance visits. Alongside FireAngel's Wi-Safe 2 network, the System utilises Z-Wave1 wireless communication technology, providing the potential for the System in future to connect with other devices and offer additional functionality.
The System will also include FireAngel Predict™, FireAngel's unique, patent pending, predictive algorithm technology. Using a combination of the Company's cloud-based technology alongside its predictive algorithm, data from properties will be gathered in real time over the internet allowing FireAngel Predict™ to identify those properties with an increased risk of fire. Once these properties have been identified, appropriate action can be taken ahead of a potential event occurring.
Graham Whitworth, Executive Chairman of FireAngel, commented:
“Following significant R&D investment, I am pleased to announce our collaboration with Mears, which takes our smart, connected and existing products into the heart of the UK social housing sector. By integrating our technological expertise in the home safety sector into Mears' solution, we believe that FireAngel can significantly enhance the quality of service and support through a range of connected safety monitoring devices for housing tenants across the UK.
“We see the System as the enabling technology that will allow FireAngel to capitalise on the wealth of opportunities in the UK trade sector and generate increased sales of our higher value trade alarms and devices.”
David Miles, Chief Executive of Mears, commented:
“We are very pleased to have signed this partnership agreement with FireAngel. There are real safety, commercial and financial benefits to optimising our interaction with tenants and reducing the number of unanswered visits from our maintenance teams. We are witnessing a transition to integrated technologies and the FireAngel system will enable us to centralise those technologies into one central hub. We look forward to introducing the FireAngel solution to our clients across the footprint.”
1 Z-Wave is a wireless communications protocol used primarily for home automation.