The Envirosuite Ltd (ASX: EVS) share price is up 17% or 2 cents to 14 cents today after the 'environmental technology company' announced it has signed Indian headquartered Tata Steel as a customer in the UK.
No specific financial details were provided around the impact of the deal other than to state that Tata Steel's Port Talbot operations would use Envirosuite's technology to help monitor air quality around the Welsh steel plant.
For the six-month period ending December 31 2018 Envirosuite reported a net loss of $2 million on revenue of $4.3 million and looks a speculative bet suitable only for experienced micro-cap investors.
On the bright side it reports it had $5.1 million in annualised recurring revenue as at January 31 2019 and is targeting being "monthly EBITDA" positive by financial year end 2020.
As at December 31 2019 the company had cash on hand of $9.24 million and no debt, with a market value of $51 million based on a 14 cents per share price.
