ASX-listed video analytics company icetana AI has secured a $1.7 million contract to provide surveillance software for the Baghdad Safe City project in Iraq.
The Perth-based firm announced the deal with Iraq-based partner High Tech.
It is icetana's largest order to date and its first entry into the Iraqi market.
The contract comes after extensive proof-of-concept testing, where icetana's AI surveillance technology successfully demonstrated capabilities including facial recognition, licence plate recognition for Arabic plates, and detection of fire, smoke, unauthorised access and irregular movements.
Worth US$1.1 million (A$1.7 million), the deal is structured as a perpetual licence valued at US$874,815 plus the first year's maintenance agreement at US$218,660.
"This initial sale is the largest value contract in icetana AI's listed history, and represents a significant milestone for our company," icetana's chief executive Kevin Brown said.
"It's an exciting time for icetana AI as our investments in the business bear fruit."
The agreement adds approximately A$344,000 to icetana's annual recurring revenue, with potential for continued revenue if the customer chooses to renew the maintenance agreement after the first year.
The software deployment is expected in the fourth quarter of the 2025 financial year, with implementation anticipated around May 2025.
The technology will be implemented for the Baghdad Safe City project, which forms part of a larger potential programme of national deployments.
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