X2M Smart Energy launches at McMahon’s Place with $11.8m addressable market
X2M Connect Limited (ASX: X2M) has advised that X2M Smart Energy was launched last week to purchasers at the 1,000-lot McMahon’s Place estate in Echuca, Victoria. The launch was a media event hosted by land developer Resi Ventures Pty Ltd (“Resi Ventures”) at the estate’s sales office.
X2M estimates an addressable market of approximately $11.8M across a smart community pipeline of up to 5,800 lots, if all households adopt the offer.
The launch follows the Smart Community Agreement with Resi Ventures (ASX announcement 2 April 2026). McMahon’s Place is the first deployment of X2M’s smart community solution in Australia, moving the rollout from agreement to a live, demonstrable site.
The binding smart community agreement converted a 2022 term sheet into a commercial contract once infrastructure construction began in September 2025, which is what made a live installation at the sales office possible.
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Live system demonstrated at the sales office
X2M Smart Energy, including solar and a home energy management system (HEMS), has been installed at the estate’s sales office. It was demonstrated to purchasers, local government and media.
Campaspe Mayor Councillor Daniel Mackrell was present to launch the project and initiated the switchover of the sales office from grid to solar energy. Representatives from X2M, 1Komma5 and NAB were present to support the launch.
Mohan Jesudason, Chief Executive Officer
“From this week, prospective purchasers at McMahon’s Place can see X2M Smart Energy operating in a live installation at the sales office… McMahon’s Place is the first estate in our Australian smart community pipeline of up to 5,800 lots, and it gives us a working reference site as we take the offer to other developers.”
A live reference site gives X2M something tangible to show in conversations with other developers.
The three-part offer for eligible purchasers
The X2M Smart Energy offer has three parts:
- A free HEMS provided by McMahon’s Place estate
- Upgraded rooftop solar, installed by 1KOMMA5° through participating builders
- Discounted home finance and a dedicated adviser through NAB
Participating homes are estimated to save approximately $1,000 per annum in electricity costs compared with typical 7-star homes that only have minimal solar fitted.
How a home energy management system works
A HEMS connects and manages each home’s rooftop solar and compatible appliances through the energy management platform. Compatible appliances include air conditioning, hot water systems and pool pumps.
The platform prioritises solar generation over grid power and runs these appliances while solar output is available. Homeowners can track their energy use, costs and savings through an online portal.
Every home that takes up the offer connects its solar and major appliances to X2M’s energy management solution, which is the basis of the revenue opportunity outlined below.
Revenue opportunity and smart community pipeline
X2M estimates a revenue opportunity of approximately $2M if all homes in McMahon’s Place adopt X2M Smart Energy. The revenue would be earned over a period set by the rate of lot sales and home construction.
X2M’s Australian smart community pipeline stands at up to 5,800 lots. It comprises binding agreements at McMahon’s Place and Glanmire Park, Yarrawonga, plus a non-binding MoU with Resi Ventures covering approximately 4,000 further lots in Victoria and Queensland.
The Glanmire Park agreement covers 800 lots in Yarrawonga and carries a potential revenue opportunity of approximately $1.6M, subject to household adoption rates.
| Project | Lots | Agreement status | Estimated revenue if fully adopted |
|---|---|---|---|
| McMahon’s Place | **1,000** | Binding agreement | **approximately $2M** |
| Glanmire Park, Yarrawonga | **800** | Binding agreement | n/a |
| Resi Ventures further lots in Victoria and Queensland | **approximately 4,000** | Non-binding MoU | n/a |
| Total pipeline | **up to 5,800** | n/a | **approximately $11.8M** |
The figures are X2M estimates. They assume all households across the pipeline adopt X2M Smart Energy, and the McMahon’s Place revenue depends on the pace of lot sales and home construction.
What happens next for X2M
CEO Mohan Jesudason said McMahon’s Place is the first estate in the Australian smart community pipeline and gives X2M “a working reference site as we take the offer to other developers.”
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