ASX-listed Dotz Nano Ltd has signed memorandum of understanding with Thanos Hotels covering three luxury hotels in Cyprus.
The agreement covers Anassa, Annabelle and Almyra. Dotz and Thanos Hotels will assess and, subject to technical and commercial validation, install ChillerAI with the shared goal of reducing energy consumption and environmental impact.
The memorandum also covers potential deployment of Dotz's heat-pump solution to deliver further energy savings and reduce carbon dioxide emissions.
Hotels combine continuous guest comfort requirements with substantial cooling, heating and hot-water loads.
Dotz is positioning ChillerAI as a way to optimise existing building energy systems using AI-driven controls and analytics.
The Thanos Hotels work remains at assessment stage and does not yet constitute contracted revenue. Any installation is subject to technical and commercial validation.
Dotz CEO, Nati Harpaz said early commercial support for ChillerAI has been encouraging.
"Our priority is disciplined execution: integrating complementary technologies, converting our pipeline into operating sites and building a scalable business with recurring revenue opportunities,” he said.
Dotz is also engaging with other prospective hotel, retail and commercial-building customers. Those opportunities are at varying stages.
The hotel update forms part of a wider expansion by Dotz Energy. The company has signed a non-binding term sheet with PRF Technologies Ltd (Nasdaq: PRFX) for the proposed acquisition of the DeepSolar/GridFeed software-as-a-service platform.
GridFeed provides software tools for solar and grid performance monitoring, analytics and optimisation.
The platform is currently running a pilot with one customer generating approximately US$70,000 in annual recurring revenue.
The proposed acquisition would extend Dotz Energy's capabilities from energy optimisation inside large commercial buildings into solar, storage and grid analytics.
The proposed $US1 million cash acquisition consideration would be paid in 21 equal monthly instalments, with the first instalment due three months after closing and no upfront payment.