DUG Technology Secures First Lease for DUG Nomad with Petronas Subsidiary

DUG Technology Ltd ( (AU:DUG) ) just unveiled an update.

DUG Technology Ltd has secured its first commercial lease for the DUG Nomad product with BRB International, a subsidiary of Petronas. The three-year lease, valued at US$355,000, involves deploying the DUG Nomad 10 container at Petronas’ Research Centre in Malaysia to support BRB’s development of immersion cooling fluids. This marks a significant step in the commercialisation of DUG Nomad, which uses proprietary immersion cooling technology for high-density AI and HPC, offering rapid deployment and edge computing capabilities.

The most recent analyst rating on (AU:DUG) stock is a Buy with a A$3.20 price target. To see the full list of analyst forecasts on DUG Technology Ltd stock, see the AU:DUG Stock Forecast page.

More about DUG Technology Ltd

DUG Technology Ltd is a global leader in scientific computing and sustainable computing innovation, specializing in geoscientific computing solutions. The company offers high-performance computing facilities, proprietary software, and energy-efficient immersion cooling systems. DUG’s services enable organizations worldwide to tackle complex data challenges, particularly in seismic data analysis, through its cloud-based network and tailored geoscience services. Headquartered in Australia, DUG operates across six continents, focusing on scientific progress, environmental sustainability, and commercial success.

Average Trading Volume: 304,098

Technical Sentiment Signal: Sell

Current Market Cap: A$150.8M

For detailed information about DUG stock, go to TipRanks’ Stock Analysis page.