X2M Connect Limited (ASX:X2M)

Creating safer utility grids with remote gas & water monitoring.

About Us

X2M Connect Limited is an Australian technology company specialising in IoT solutions that connect utility devices—such as water, gas, and electricity meters—to the internet. Their platform enables real-time data exchange and remote control, offering significant productivity improvements, cost savings, and enhanced public safety for enterprise and government clients.

Company Overview

Founded in December 2019 and headquartered in Mount Waverley, Victoria, X2M Connect Limited has developed and commercialised a patented IoT platform that facilitates the connection of utility devices to the internet. This technology enables data exchange and remote control, delivering productivity improvements, cost savings, and improved public safety for enterprise and government clients.

\The company's focus is on servicing the utility sector in the Asia-Pacific region, with significant operations in South Korea and China. As of December 2022, X2M had over 361,000 devices connected to its platform, reflecting a 100% year-on-year increase. The company generates revenue through hardware sales and monthly subscription fees under Software as a Service (SaaS) arrangements.

Board & Management

Alan Stockdale

Alan Stockdale

Non-Executive Chairman

Mr Stockdale has significant legal, Government, investment banking and other business experience. Alan was Victorian Treasurer (1992-1999) and was the Minister for IT and Multimedia from 1996 to 1999. He was a successful barrister, law firm Partner and Consultant and worked as an investment banker for Macquarie Bank. Mr Stockdale is Chairman of Knosys Limited and was previously Chairman of ASX-listed companies Senetas, Axon Instruments and Symex (now Pental) and Chairman of the Medical Research Commercialisation Fund. He has been Chairman or a Director of several other listed companies, unlisted companies and voluntary organisations.

Damien Johnston

Damien Johnston

Non-Executive Director

Mr Johnston is an ASX experienced Finance Executive. Mr Johnston was Chief Financial Officer at Tabcorp Holdings Limited and held several senior financial roles at BHP Group Limited. Mr Johnston has solid governance experience through his involvement on the Tabcorp Holdings Limited Board and related committees. Mr Johnston has extensive experience in mergers and acquisitions at Tabcorp Holdings Limited and BHP Group Limited.

John Stewart

John Stewart

Non-Executive Director

Mr Stewart has 25 years experience in merger & acquisition advisory roles and has been CEO of a start-up with 50 employees. Mr Stewart held senior roles at Gresham Partners, Lazard, JPMorgan and Thomas Weisel Partners and has strong networks in business, venture capital, finance, law and politics. Mr Stewart is a director of Stratford Retail Group (UK), Sovereign Investments, Gander Retail Holdings Pty Ltd and Access Investing Limited.

Mohan Jesudason

Mohan Jesudason

Chief Executive Officer & Managing Director

Mohan Jesudason has over 30 years’ business and executive experience. Mr Jesudason was previously the Managing Director of Gaming and Group Marketing at Tabcorp Holdings Limited for 10 years. He also worked 9 years at Telecom New Zealand (now Spark New Zealand Limited) which included the position of Managing Director at Telecom Mobile. Mr Jesudason also worked at National Mutual/AXA (now AMP Limited) for 16 years where he served in a variety of roles from Graduate trainee to senior executive. Mr Jesudason is on the Advisory Board of Enterprise Victoria and a past Director of Melbourne Football Club and Racing Victoria Limited where he was also a Member of the Racing Integrity Council.

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