Optimation secures nearly $2 million in R&D funding from FRST

Equip project is target of grant

Optimation has received $1.8 million from the Foundation for Research, Science and Technology, for on-going development of its Equip utilities billing software.

Foundation business manager Robert Matheson says the investment has already created new development jobs at Optimation and has the potential to deliver substantial returns to the New Zealand economy.

“Optimation’s business model of leveraging off a solid domestic base to grow sales offshore is a good one. They are also forming strategic partnerships with key international players, which is linking them with new opportunities and markets,” he says.

The current version of Equip is used by Genesis Energy and Meridian Energy to bill more than half of New Zealand’s major energy users. It was also recently sold to the Maldives Government.

Optimation utilities group manager Alistair Owens says Equip is a large and complex project in an enterprise-scale application with enormous market potential.

“The research and development project will result in a unique, next-generation software suite that supports the end-to-end business processes required to handle the volume and complexity of large-scale smart billing,” he says.

“The investment allows us to ramp up high-end jobs in Wellington. This is highly technical, leading-edge stuff. We’ve already filled two architectural positions and are looking for two more. There will be flow-on to the development team.”

He says the $1.8 million grant will be used purely for research and development.

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