NEWS – Harvest Technology Group

Remoteness controlled: Harvest has big-time goals for its real-time streaming tech

Marnie Fulmer — Thu, 20 Feb 2025 03:30:00 +0000

When bad connections won’t cut it, Nodestream is built to step up
Harvest Tech has a three-year plan to make Nodestream a global name
The tech is being used for oil rigs, and in telehealth, defence and maritime

In critical situations, real-time video can make all the difference.

Take the 2010 Deepwater Horizon oil spill, for example. After an explosion on an offshore drilling rig in the Gulf of Mexico, experts needed live video feeds to assess the damage and guide the response efforts.

But the problem was the site was deep in the ocean, far from reliable communication infrastructure.

As a result, video from remotely operated vehicles (ROVs) and underwater cameras, while crucial, often struggled with terrible connectivity – dragging out the response when every second counted.

Fast forward a few years to the 2014 Ebola outbreak in West Africa.

Healthcare teams in remote, infrastructure-poor regions desperately needed clear, real-time video to assist in diagnosing patients and advising local teams.

Unfortunately, the patchy connectivity in those areas made video communication difficult, resulting in delayed decisions… and deaths.

Then, there was 2017’s Hurricane Maria in Puerto Rico.

After the devastating storm, the island’s communication infrastructure was crippled. First responders and aid organisations relied heavily on live video to assess damage and locate survivors.

But the poor connectivity left many areas without reliable video feeds, making it much harder for experts to get the information they needed in real-time.

These incidents highlight the critical role real-time video plays in crisis management. And they show how unreliable connections can get in the way when it’s needed most.

And that’s exactly where ASX-listed Harvest Technology Group (ASX:HTG) believes its technology steps up to the plate.

Keeping connections alive and seamless

The team at Harvest has developed a communications technology it calls Nodestream, which is built to improve and change how industries can stay connected in the toughest of conditions.

Nodestream isn’t just for crises, though, says Harvest Tech – it’s being used in defence, vessels management, remote telehealth, and subsea missions, keeping the connection alive no matter how spotty the signal.

Nodestream can send video, audio, and data securely across networks that might seem impossible. It’s like a better, faster version of the internet’s standard protocol, TCP/IP, built right here in Australia.

But while Nodestream was already a hidden gem, it wasn’t reaching its full potential.

Which is why Ilario Faenza, a “turnaround specialist” stepped in as CEO. He was brought in to make sure this technology doesn’t stay in the shadows and reaches its “game-changing” potential.

‘Why isn’t it everywhere?’

Under Faenza’s leadership, the company is on a three-year mission to turn everything around, boost profits, and get Nodestream in the hands of more customers globally.

After joining the company in January 2024, his first big move was to roll out Nodestream Live – a SaaS version that lets clients hit the ground running and go live on their own hardware in hours, not weeks.

This, he told Stockhead, opens up a whole new world of opportunities, as clients can now get up with zero downtime and start using this technology wherever they need it.

I was sceptical at first,” said Faenza. “But I’ve got a network engineering background, and frankly, the tech amazed me.

“And I equally couldn’t believe it hasn’t been properly commercialised.

“Why isn’t it everywhere?”

Who uses this thing?

Nodestream Live is built to handle video surveillance in places with ‘spotty’ connections and low bandwidth.

This cloud-based platform pulls in video from multiple devices, letting you manage it all in one simple system.

It streams up to 16 channels, even at just 500kbps, so you get crystal-clear video no matter how bad the connection.

Harvest says it’s a plug-and-play, no complicated setup. Just log in and go. Also, it works with most video formats, so you can skip the tech headaches.

Industries like defence, oil and gas and emergency services, where quick decisions matter, could really benefit from this tech, said Faenza.

He added that the launch of Nodestream Live is a significant milestone for the company, with many customers having participated in the beta trials.

“I see Nodestream Live as a key asset for securing enterprise and government clients worldwide.”

Case study for Nodesteam

Imagine you’re a vessel operator, and everything’s running smoothly, until you hit an unexpected issue or need to do a routine inspection.

Traditionally, you’d have to schedule port calls and bring in experts to physically check on the vessel. That’s time-consuming, costly, and sometimes just isn’t feasible when you’re out at sea.

But Nodestream allows you to stream high-definition video and audio in real-time using incredibly low bandwidth – ideal for exactly those poor-quality network connections out at sea.

With Nodestream, your team on land can inspect everything remotely, allowing you to collaborate live with engineers.

Three-year plan on track

The company has recently made its move into Europe with the incorporation of Harvest Technology Europe in Ireland.

“It was a natural evolution, and Ireland, being part of Europe, allows us to be compliant with European clients who prefer to contract with a European entity,” said Faenza.

Harvest has also teamed up with Pulsar International, sealing a reseller agreement to bring the cutting-edge tech to a global market.

“Pulsar has a strong presence in maritime and now, with Nodestream, they can integrate our solutions from the start of projects, as well as offer it to their existing maritime customers.”

In the meantime, the company is making good progress on its three-year plan to hit profitability by FY27.

Its latest Q2 FY25 results show cash receipts up 37% to $672k, and revenue up 32% to $689k – proving the plan is progressing as intended.

“While we are still in the early stages, the cost reduction, increase in recurring revenue percentage, and resulting margin increase are ahead of plan,” Faenza noted.

The company has raised $3.065 million through convertible notes, and secured an order from a ‘Five-Eyes’ defence partner for Nodestream Integrated devices.

“Focus is, of course, on revenue growth and supporting our reseller partners to secure new customers,” emphasised Faenza.

At Stockhead we tell it like it is. While Harvest Technology is a Stockhead advertiser, it did not sponsor this article.

Harvest Tech Q2 Cash receipts up 37% as profitability push continues

Marnie Fulmer — Mon, 03 Feb 2025 03:45:00 +0000

Harvest Technology Group reports cash receipts up 37% on pcp to $672,000 in Q2 FY25
Revenue of $689,000 up 32% on pcp as three-year plan to reach profitability implemented
Company raises $3.065m via a range of convertible note instruments in December quarter

Special Report: Harvest Technology Group (ASX:HTG) has reported its Q2 FY25 results with cash receipts up 37% on the same period in FY24 to $672,000 as it implements a three-year plan to reach profitability in FY27.

The tech solutions provider, specifically focused on overcoming challenges associated with remote video and data streaming, reported revenue of $689,000 for Q2 FY25 which was 32% higher on pcp.

HTG said EBITDA of ($35,000) was a 98% improvement on pcp, mainly due to the recognition of $1.59m of the group’s R&D tax incentive rebate.

The company ended the quarter with a cash balance of $670,000 with overall net cash inflow for the quarter $297,000.

Net operating cash outflows during the quarter were $580,000. HTG said expenses included R&D, staff, sales, marketing, corporate and administration costs plus interest and other costs.

During the quarter HTG repaid $606,000 on FY24 R&D’s loan notes, $420,000 on a short-term loan, and a director’s loan of $100,000.

The company said Q2 also included cash costs of $318,000 related to termination and other costs relating to the restructuring of the company and prior period legal costs relating to the Vroon case.

Going forward, HTG said it expected reduced legal costs and further cost reductions from its cost-saving initiatives.

Cap raising, additional orders and new subsidiary

During the quarter HTG raised $3.065m (before costs) via a range of convertible note instruments.

In December 2024, the company announced it had secured an additional order and full advance payment from its key Five-Eyes defence partner to supply a further 30 NSI (Nodestream Integrated) device units.

Nodestream is the company’s secure integrated platform for real-time collaboration, communication and data exchange.

The company said the platform provides an all-in-one solution accessible from anywhere, deployable at any time and enables users to enhance video, audio and data streaming over unstable networks, ensuring optimal quality-of-service even under difficult conditions.

HTG also executed a binding and non-exclusive worldwide reseller agreement with Pulsar Solution Inc.

Under the agreement, HTG’s products and solutions will be resold across Pulsar’s existing and prospective customer base.

It also established a new wholly owned subsidiary, HTE (Harvest Technology) Ltd, in Ireland.

The new company will re-launch the Harvest Nodestream product range across the UK and European markets.

It also appointed Three Pro Consultants Ltd to act as sales representatives for HTE (Harvest Technology) Ltd in the UK and European market under a sales commission and buyout model.

Update on three-year strategic plan

The HTG board earlier in 2024 undertook a review of the performance and direction of the company to ensure its pathway to commercial success was optimised to deliver strong growth, elevated recurring revenue and increases in market share.

In its quarterly update HTG provided an update on key pillars of its three-year path to growth and profitability plan.

The company said six months of the 36-month plan had been completed with its target of profitability by FY27 on track.

HTG said it was working towards exceeding $10 million revenue growth by FY27 with $7.5 million from its existing Nodestream product range.

The company said it had a 27% increase in recurring revenue compared to the same time last year, reflecting the focus to recurring licencing versus one off sales.

As a result of its focus on recurring revenue licensing, gross margin increased from 67% in the December quarter of 2023 to 86% in the three months to December 31 last year.

Recently signed reseller agreements are also expected to boost revenue growth, with more expected to come online this quarter

HTG said it was still reviewing potential acquisitions but would only move forward on the right acquisition on acceptable terms.

“We are building the services capability in-house and leveraging reseller partners to accelerate growth,” the company said.

While making significant progress with major customer contracts, it said this “was moving slower than desired”.

However, in some further good news HTG said it had completed and exceeded its cost optimisation goal.

On its target of reducing breakeven to $10m from $14m, HTG said it had further targeted cost reductions, aiming to hit $6.5m of projected revenue to achieve breakeven

“While we are still in the early stages, the cost reduction, increase in recurring revenue percentage, and resulting margin increase are ahead of plan,” HTG said.

“Focus is, of course, on revenue growth and supporting our reseller partners to secure new customers.”

This article was developed in collaboration with Harvest Technology Group, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

NODESTREAM™ LIVE CLIENT TESTIMONIAL

Marnie Fulmer — Mon, 19 Aug 2024 12:02:00 +0000

What clients are saying about NodestreamLive

We’re thrilled to share a testimonial from Owen Hetherington, Manager of ROV Operations with Total Marine Technology, about his experience with our new product, Nodestream Live, integrated with the Digital Edge Subsea DVR system. This innovative solution is designed to simplify and enhance offshore video streaming, and it’s already making a real impact in the field.

“We were amazed at how simple and efficient the Digital Edge Subsea system using Nodestream Live was to implement! Setting up a reliable and user-friendly offshore video streaming solution was incredibly straightforward, thanks to the remote installation. As soon as it was up and running, we were streaming high-quality video through a web browser, with the flexibility to adjust the bitrate for optimal video quality. The system performed flawlessly the entire time we used it, and we’re looking forward for future opportunities to use it again!”

Owen Hetherington
Manager, ROV Operations

Total Marine Technology Pty Ltd

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INTRODUCING OUR NEW SALES DIRECTOR: NEIL MATHESON

Marnie Fulmer — Tue, 06 Aug 2024 12:06:00 +0000

Introducing Our New Sales Director: Neil Matheson

We are thrilled to welcome Neil Matheson to the Harvest team as our new Sales Director.

Neil brings a wealth of experience, having served most recently as Director of Strategic Programs & Partnerships at Inmarsat. With a robust background in sales to the government sector, Neil’s expertise and leadership will be invaluable as we expand our market presence and drive sales growth. His initial focus will be on large enterprise opportunities in the satcom and government sectors.

An accomplished business leader, Neil has extensive senior sales & marketing and general management experience in the wireless ICT and renewable energy industries. He excels in providing motivational leadership, structural and people development skills across all facets of the business. Neil is adept at creating successful sales strategies, introducing new products and services, and developing marketing and delivery programs to achieve business objectives and increase shareholder value.Neil has a proven track record in managing multiple, complex portfolios across a diverse range of markets. From small startups to the largest network operators, OEMs, integrators, public safety, defense, utility, and transport customers, his experience is vast and varied. He personally leads business development and bid leadership for large turnkey infrastructure projects and new technology initiatives.

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HARVEST TECHNOLOGY INTRODUCES NODESTREAM™ LIVE!

Marnie Fulmer — Wed, 05 Jun 2024 11:17:00 +0000

After a very successful beta test programme (where it was known as AVRLive Cloud), Nodestream Live is now ready to revolutionise remote video monitoring.

What is Nodestream Live?

Nodestream Live is a cutting-edge cloud-based software designed to streamline and enhance remote video monitoring in bandwidth-constrained environments. This revolutionary platform enables you to aggregate video feeds from various sites and devices into a single, easy-to-manage system. It supports streaming up to 16 channels of video per encoding device from as low as 500kbps, ensuring unparalleled situational awareness even where network availability has previously limited video streaming.

With a user-friendly interface, a browser-based platform for simple deployment, and compatibility with most industry-accepted video formats, Nodestream Live facilitates rapid, secure sharing of content with key stakeholders. Additionally, Nodestream Live includes advanced PTZ (Pan-Tilt-Zoom) camera control, allowing operators to adjust the camera angle and zoom remotely, providing precise control over the video surveillance area and enhancing the flexibility of monitoring operations.

Why Choose Nodestream Live?

Low-cost Monitoring and Situational Awareness Solution: Deliver top-tier video monitoring without breaking the bank.
Rapid Response and Impact Minimisation: Quickly react to critical or emergency events, reducing operational and reputational impact.
Instant Operational Insight: Gain a clear and immediate understanding of your current operations.
Informed Decision-Making: Make smarter decisions with real-time data and insights.
Proactive Risk Management: Identify potential risks early and manage them proactively.
Operational Efficiency: Spot and address bottlenecks, inefficiencies, or disruptions swiftly.
Compliance Assurance: Ensure your operations comply with legal and safety requirements.

Standout Features of Nodestream Live:

High-Efficiency Streaming: Stream up to 16 channels of high-quality video from as low as 500kbps.
User-Friendly Interface: Enjoy a simple user interface for seamless operation.
Satellite Network Optimisation: Perfect for survivability on satellite networks.
Broad Compatibility: Works with most industry-accepted video formats.
Advanced Camera Control: Leverage advanced PTZ (Pan-Tilt-Zoom) camera control on ONVIF-enabled devices.
Robust Security: Benefit from end-to-end security and encryption.
Instant Video Sharing: Securely share video with key stakeholders instantly.
Customisable Settings: Adjust bandwidth, frame rate, and latency settings to suit your needs.
Purpose-Built for Low Bandwidth: Optimised for low bandwidth environments.
Live Recording Capability: Record live video streams effortlessly.
Private Network Deployment: Can be deployed on private networks for maximum security.
Rapid Deployment: Deploy quickly to any location, with minimal installation downtime.
Network Agnostic: Operates across any existing network using minimal bandwidth.

Experience the future of remote video monitoring with Nodestream Live – your ultimate solution for situational awareness and operational efficiency.

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DIGITAL EDGE SUBSEA TEAM UP TO LAUNCH NODESTREAM.LIVE BETA

Marnie Fulmer — Wed, 08 May 2024 04:12:00 +0000

Digital Edge Subsea have teamed up with Harvest Technology Group to launch our beta Nodestream Live video streaming solution that’s set to revolutionise the offshore industry.

Nodestream Live is a cutting-edge cloud-based software designed to streamline and enhance remote video monitoring in bandwidth-constrained environments. This revolutionary platform enables you to aggregate video feeds from various sites and devices into a single, easy-to-manage system. It supports streaming up to 16 channels of video per encoding device from as low as 500kbps, ensuring unparalleled situational awareness even where network availability has previously limited video streaming. With features like a Netflix-style user interface, browser-based platform for simple deployment, and compatibility with most industry-accepted video formats, Nodestream Live facilitates the rapid, secure sharing of content with key stakeholders. Additionally, Nodestream Live includes advanced PTZ (Pan-Tilt-Zoom) camera control, allowing operators to adjust the camera angle and zoom remotely, providing precise control over the video surveillance area and enhancing the flexibility of monitoring operations.

“Harvest Technology’s industry leading video streaming service Nodestream Live will transform the way we operate, allowing our customers to stream live video directly from our existing DVRs with just a simple software update. Being part of this exciting beta program will be a game-changer for the industry” Andy Freeman, Digital Edge Subsea

Optimised for low bandwidth conditions, this platform allows for the live recording of video streams, instant secure sharing with third parties, and adjustable settings for bandwidth, frame rate, and latency to meet diverse operational needs. It can be rapidly deployed to remote locations, enabling in-depth situational understanding within your work group or organisation. Furthermore, the system boasts high end-to-end security and is network agnostic, ensuring that your data remains secure while accommodating a wide range of existing network conditions.

Stay tuned for further updates on how our Nodestream technology continues to set the standard for secure communications in challenging defence applications.

Follow Harvest Technology Group on LinkedIn for our latest news and updates.

STRATEGIC TECH ROLLOUT

Marnie Fulmer — Tue, 12 Mar 2024 04:07:00 +0000

HARVEST TECHNOLOGY DEPLOYS 60 NSI UNITS TO FIVE-EYES DEFENCE CONTRACTOR

The deployment of 60 NSI (Nodestream Integrated device) units is a significant milestone in our ongoing engagement with prominent Five-Eyes defence customer, Guerrilla Technologies.

The delivery of these units marks a pivotal moment in our project timeline and attests to the strong alignment between Harvest’s cutting-edge Nodestream technology and evolving requirements in the defence sector. The deployment of these NSI units is set to enhance the customer’s network and semi-autonomous field assets, capitalising on our technology’s ability to ensure reliable and ultra-secure communications. This is particularly vital in managing sensitive operations in remote locations.

Each NSI unit is engineered to perform in demanding environments, designed as a compact single board computer that excels in low power consumption, flexibility, and high-performance computing. Paired with the Nodestream software, these devices can transmit high-quality video, audio and control data on communication links with less than 100kbps bandwidth. Despite weighing only about 160g, the NSI boasts military-grade encryption, safeguarding critical data in transit without compromising on mobility or performance.

The dispatch of these NSI units, which have completed rigorous industry compliance testing as of December, is testament to Harvest Technology’s dedication to providing solutions that meet the strategic communication needs of defence sectors globally.

Stay tuned for further updates on how our Nodestream technology continues to set the standard for secure communications in challenging defence applications.

Follow Harvest Technology Group on LinkedIn for our latest news and updates.

CHANGES AT HARVEST TECHNOLOGY GROUP LIMITED

Marnie Fulmer — Mon, 05 Feb 2024 04:04:00 +0000

Changes at Harvest Technology Group Limited (Harvest) designed to accelerate our delivery of unique solutions to you.

With the upcoming release of our revolutionary AVRLive Cloud platform and the continued enhancement of our existing Nodestream product suite, we have recently reorganised our leadership and strengthened our balance sheet to accelerate our growth and provide solid foundations for sustained success – for our customers, our valued partners and our staff.

Ilario Faenza has joined the Group as CEO and a member of the Board, bringing his wealth of proven experience in the commercialisation of high-growth startup technology companies.

Several Harvest leaders have assumed new roles to ensure organisational continuity: Jeffery Sengelman, DSC, AM, CSC, will act as Executive Chair temporarily to oversee effective transition arrangements.

Long-time Harvest leaders Jamie (Jimmy) Dean and Brooke Edwards will take on new responsibilities as Sales and Marketing Director and Commercial Director, respectively. They will continue to work closely with our customers and partners.

We don’t expect these changes to impact you or how our teams work with you. It is business as usual. We remain dedicated to innovation, growth, and providing the best service to our valued customers and solution partners.

Harvest is excited to confirm the expected receipt of the $1.59 million capital raise in early February 2024 in a show of continued shareholder/investor support for our strategy and longer-term growth plans.

The leadership transition underscores our commitment to adapt, grow, and enhance the value we bring to you, our valued customers and partners. We believe these changes will strengthen our ability to meet and exceed your expectations.

For more information please refer to our market update.

Follow Harvest Technology Group on LinkedIn for our latest news and updates.

NEW UK OFFSHORE SERVICES COMPANIES JOIN HARVEST’S GROWING CUSTOMER LIST

Marnie Fulmer — Wed, 24 Jan 2024 04:01:00 +0000

Harvest Technology Group welcomes two new offshore services customers

We are excited to welcome two new UK-based offshore services providers as customers this month, further expanding our influence in the offshore and energy sectors.

Both companies will utilise Nodestream technology for remote situational awareness and maritime surveillance of offshore operations.

The technology will enhance their visibility of assets on both projects and other operations and allow them to provide key stakeholders and clients with real-time access to the data.

As with our other customers, the initial orders are expected to grow into more orders in the future following successful initial deployment.

For more information please refer to our market update.

Follow Harvest Technology Group on LinkedIn for our latest news and updates.

HARVEST TECHNOLOGY GROUP EXPANDS ITS FOOTPRINT WITHIN DEFENCE

Marnie Fulmer — Wed, 24 Jan 2024 02:31:00 +0000

Harvest Technology Group expands its footprint within Defence

We are pleased to confirm we have received both second and third orders for our Nodestream technology from our prominent Five-Eyes defence customer.

These orders continue the deployment of our ultra-low bandwidth, secure Nodestream technology into the Customer’s network and semi-autonomous field assets, reinforcing its value in defence and battlespace applications.

“The opportunity to work collaboratively and globally within the Five-Eyes defence network is very exciting for us and demonstrates a demand for the capabilities we offer,” said Harvest’s COO, Linda Shields.

We are also pleased to confirm that following a very successful trial with a number of key stakeholders, the order for remote telemedicine kits from our European Union Defence Force customer has been received. The commissioning of the kits to its naval fleet will get underway this quarter.

Additionally, the trial of Nodestream Integrated devices on drones for the Japanese Self-Defence Force was successful and very well received, resulting in equipment purchase and discussions of future orders.

The utilisation of our technology in the defence sector is expected to grow into the future with defence forces deploying the platform across multiple operational theatres within their scope.

For more information please refer to our market update.

Follow Harvest Technology Group on LinkedIn for our latest news and updates.