X2M Connect has secured a new Smart Community Agreement for 800 homes in Victoria’s Glanmire Park estate, adding an estimated $1.6 million revenue opportunity to its growing Australian smart community pipeline.
- 800-lot Glanmire Park estate agreement in Yarrawonga
- Potential $1.6 million revenue from full adoption
- Total Australian smart community pipeline reaches 5,800 lots
- Smart Energy solution integrates solar, community battery, and financing
- Energy savings of approximately $1,000 per home annually
New Contract Boosts X2M’s Smart Community Pipeline
X2M Connect Limited (ASX:X2M) has inked a Smart Community Agreement with Riverstown to roll out its Smart Energy platform across 800 homes in the Glanmire Park estate, Yarrawonga, Victoria. This deal adds an estimated $1.6 million revenue opportunity to X2M’s expanding footprint in the residential smart energy sector, contingent on adoption rates and home construction pacing.
The Glanmire Park agreement follows closely on the heels of a binding contract with Resi Ventures for 1,000 lots at McMahon’s Place, Victoria, which carries a potential $2 million revenue opportunity. Alongside a non-binding memorandum of understanding to extend offerings to roughly 4,000 additional lots in Victoria and Queensland, X2M’s Australian pipeline now totals up to 5,800 lots, signalling accelerating momentum in the smart communities space. This builds on the company’s recent progress, including a $2M smart energy deal that demonstrated its ability to scale its platform across new residential developments.
Integrated Smart Energy Platform and Consumer Savings
X2M’s Smart Energy solution bundles upgraded solar panels, a home energy management system, access to a community battery (pending regulatory approval), and financing support. The platform connects key household energy devices; solar arrays, air conditioning, pool pumps, and hot water systems; to an advanced AI-powered energy management system that optimises energy generation, storage, and consumption across the entire community in real time.
Homeowners participating in the program can expect around $1,000 in annual electricity savings compared to standard 7-star homes, based on a jump from a 2kW to a 5.28kW solar package and smarter energy management. When combined with home loan financing, these savings could offset upfront costs and improve overall housing affordability from settlement.
Positioning Amid Rapid Smart Cities Growth
X2M’s edge and cloud-based platform is designed to connect any device on any network, processing large-scale real-world data to support next-generation infrastructure. As artificial intelligence becomes integral to urban management, X2M’s data infrastructure is positioned as a critical enabler for smart cities and communities.
Industry research from Grand View Research estimates the global smart cities market was worth US$877.6 billion in 2024 and is forecast to grow at nearly 30% annually, with smart utilities accounting for over a quarter of the market. The Asia Pacific region leads this expansion, representing more than half of the global market and growing even faster through 2030.
CEO Mohan Jesudason highlighted Glanmire Park as a "significant commercial milestone," reinforcing confidence in a scalable model ready for broader deployment across Australia’s growing residential development pipeline. With the platform proven at scale and partnerships in place, X2M aims to capitalise on accelerating demand for smart community solutions.
Bottom Line?
X2M’s expanding contracts in Victoria underpin a scalable smart energy model, but revenue timing hinges on homebuilding and adoption rates.
Questions in the middle?
- How quickly will homebuyers adopt X2M’s Smart Energy solution in Glanmire Park and other estates?
- What regulatory hurdles remain for community battery deployment and how might they impact rollout?
- Can X2M replicate this model beyond Victoria and Queensland in other Australian states or internationally?