zencontrol Acquires Strategic Ownership Stake in Zimi Limited (ASX:ZMM) 

[Brisbane, 25/10/2024] – zencontrol, a global leader in advanced lighting and building automation solutions, is proud to announce the acquisition of a 19.3% ownership stake in Zimi Limited (ASX:ZMM), an Australian innovator in smart IoT electrical devices. This significant investment, part of Zimi’s recent $2.375 million shortfall placement, strengthens the collaboration between the two companies, marking a pivotal moment in their shared mission to drive innovation in smart building solutions. 

The investment highlights zencontrol’s commitment to expanding its influence in the rapidly growing smart technology market. Zimi’s innovative products, including smarter switches, light dimmers, and home automation devices, complement zencontrol’s vision of creating more connected and intelligent building ecosystems. 

In addition to the investment, zencontrol’s Managing Director, Joshua Newell, has been appointed to Zimi’s Board of Directors, further cementing the strategic alignment between the two companies. His extensive experience in global lighting control and smart building technologies is expected to bring valuable leadership to Zimi as it embarks on its next phase of growth. 

“Zimi aligns with our core values,” said Joshua Newell, Managing Director of zencontrol. “Our focus has always been on simplifying and enhancing building control systems, and Zimi’s solutions align with our global sales strategy. We see significant potential to leverage synergies in manufacturing, product development, and marketing, ultimately delivering greater value to both commercial and residential sectors.”

– Joshua Newell, Director at zencontrol

In addition to the equity investment, zencontrol and Zimi have entered into a Memorandum of Understanding (MoU) to develop an exclusive range of ‘Senoa Professional’ products targeted at the global commercial lighting control market. This collaboration is expected to streamline production processes and enhance cost efficiencies, positioning both companies for accelerated growth in the smart building industry. 

In Zimi’s ASX Release, Jordan Tentori, CEO of Zimi, remarks, “This marks a significant milestone for the company, underscored by the strong support and confidence of new investors, including Zencontrol as a substantial holder. Their backing enhances our growth trajectory as we pursue new opportunities to drive revenue and improve profit margins”  

This partnership underscores both companies’ commitment to advancing smart building technologies and capitalising on the rapidly evolving Internet of Things (IoT) market. 

About zencontrol 
zencontrol is a global leader in lighting control and building automation solutions, providing innovative, sustainable, and intuitive technologies that improve energy efficiency and user experience. zencontrol’s solutions are implemented in commercial, industrial, and residential environments worldwide.

About Zimi Limited 
Zimi Limited (ASX: ZMM) is an Australian technology company specialising in creating smarter living and working environments through IoT-enabled electrical products. Zimi’s product portfolio includes smart switches, power points, and controllers, seamlessly integrated into homes and buildings via an intuitive home automation platform.