icetana AI Secures Landmark A$1.7M Order for Middle East Safe City Project

icetana (ASX: ICE) has secured its largest contract to date, a A$1.7 million deal with Iraq-based High Tech for its artificial intelligence driven video analytics software. This contract includes a perpetual software license and a first-year maintenance agreement and follows proof-of-concept testing in Iraq. The software will be deployed in the Baghdad Safe City project, part of a broader national security initiative, with implementation expected in Q4 FY25.

icetana AI’s platform enhances large-scale surveillance networks using AI to detect unusual activity in real-time. Features include facial recognition, license plate recognition for Arabic plates, fire and smoke detection, left luggage alerts, trespass monitoring, and irregular movement analysis. Successfully tested in Iraq, this technology will play a key role in improving urban security.

CEO Kevin Brown called the deal a major milestone, emphasizing its significance as icetana AI’s largest contract in its listed history. The contract is structured as a perpetual license valued at US$874,815 (~A$1.3M), with an annual maintenance agreement of US$218,660 (~A$344,000). The first year’s maintenance is included, contributing to recurring revenue growth. Payment terms require a 20% downpayment by April 30, 2025, 60% upon acceptance of key functionality, and the remaining 20% within 60 days of full implementation.

AI surveillance systems have significant growth potential as advancements in machine learning, facial recognition, and big data analytics enhance their accuracy and efficiency. Governments and businesses are increasingly adopting these technologies for security, crime prevention, and operational monitoring. However, concerns over privacy and ethical implications may shape regulatory frameworks and influence market adoption.

Beyond Iraq, icetana AI is actively expanding its footprint with projects across multiple sectors, including retail, transportation, education, and public safety. The company’s AI-powered surveillance technology is deployed in over 75 sites across 15+ countries, helping organizations enhance security and operational efficiency.