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Fedr8 the machine learning technology developer has had a transformational 12 months. The highlights of this period include;
- The launch of the Green Rain application analytics solution
- The successful validation of the efficacy of Green Rain’s static source code analysis by three of the world’s largest Global footprint systems integrators.
- Entered into commercial/ contractual negotiations with two of these Global businesses
- Building and user training about to start on a production environment for our first paying customer
- Developed a customisable presentation layer to suit every Partners bespoke needs
- Leon Zackoski a US based machine learning engineer is developing a new COBOL module, opening up the world’s largest legacy software issue to Green Rain Analysis
The past year has seen Fedr8 launch a new product, Green Rain 1.0, which superseded the Argentum development product. Green Rain has been built using extensive industry feedback from proof of concept trials with the Argentum product and has an intuitive presentation layer which is more precise and usable than the Argentum product. The latest iteration of Green Rain 1.4 is now fully customisable by warning and category by end users and partners allowing the screening of analysis to even more granular depth.
This more granular analysis means that the time saved by developers to analyse as to whether to retire, rewrite or update an application before a move to cloud is now accelerated yet further. The time savings envisaged by customers in this process is weeks and even months per application analysed. In software estates that number into the thousands of applications the potential savings run into the multiple millions.
The commercial model preferred by the companies we are in discussions with is a consumption model. This would mean Fedr8 supply a blue printed technical specification for an environment for the Green Rain software to run on. This would be hosted on our partners infrastructure and they would pay for the associated ongoing running costs. The Partner would then pay a multi-year licence to use each installed platform.
Fedr8 is now confident that it will be a revenue generating company over the next six months as existing relationships and negotiations become fee paying contractual relationships and new engagements mature.
Entering a global enterprise market with a new and disruptive technology has taken longer than Fedr8 expected with sales lead times stretching to 12 months and longer and on behalf of the company I thank shareholders for their support and patience throughout this process.