MapBI Update

The Board of Built Cybernetics (AIM:BUC), the smart buildings group, is pleased to provide an update regarding its Belfast-based smart cities software platform MapBI Ltd ("MapBI").

On 12 November 2025 the Group announced the launch of MapBI, having acquired the Active Maps proprietary graphical information software developed by 3DEO (NI) Limited, which had been placed in liquidation. Active Maps is used to visualise and analyse information in a 3D environment. It is sold on a software-as-a-service (SaaS) basis, and has a range of applications for Smart Cities, Smart Ports, and for property portfolio owners and managers looking to understand their data at a campus-wide or portfolio-wide level.

We are pleased to report that less than three months since the acquisition, all clients of 3DEO at the point it failed have entered into agreements with MapBI. This provides Monthly Recurring Revenue of approximately £20,000, around half of which is billed monthly, and half is billed annually in advance. The cash costs of MapBI are in the region of £40,000 per month, some of which will be capitalised costs developing the software further. Across the period since acquisition, MapBI's trade debtors and cash receipts broadly cover the cash costs of running the business.

Further, this week Thames Freeport has announced that MapBI has joined its Connectivity Lab. This 10 week programme, run by innovation specialists L Marks and Cambridge Management Consulting, had 150 companies apply, and MapBI is one of just eight companies to be selected. The participants will deploy their technology in live trials along the Thames Estuary, with MapBI in use at DP World London Gateway. As part of the programme MapBI will build a digital twin of the port's container inventory, overlaid with operational and performance data to reveal operational insights at Britain's fastest-growing container port.

MapBI has a healthy pipeline of other prospects and in addition the Active Maps software is expected to be of interest to the Group's existing client base, in particular developers and other owners of multiple properties.

Comments

Nick Clark, Chief Executive, commented:

"It's great to see MapBI successfully relaunching the Active Maps software and signing up customers, including major UK infrastructure sites using it as a smart ports platform and a European city authority using it to visualise data from city-wide sensors as part of their smart city transformation. We look forward to further developments as we continue to build recurring revenues that can scale faster than headcount."