Tern PLC Wyld Networks SEK 12.6 million Purchase Order
12 January 2023 - 6:30PM
RNS Non-Regulatory
TIDMTERN
Tern PLC
12 January 2023
REACH
12 January 2023
Tern Plc
("Tern" or the "Company")
Wyld Networks SEK 12.6 million Purchase Order
Tern Plc (AIM:TERN), the company focused on value creation from
Internet of Things ("IoT") technology businesses, is pleased to
note that Wyld Networks AB ( " Wyld Networks" or "Wyld") has today
announced that it has received an approximately SEK 12.6 million
(approximately GBP1 million) purchase order for its satellite IoT
Wyld Connect module (the "Wyld Announcement"). Tern holds 41.2% of
Wyld Networks' equity.
Extracted from the Wyld Announcement
" Virtual satellite network operator Wyld Networks has been
contracted to deliver its Wyld Connect satellite IoT module to a
company based in the Middle East for deployment into the
agricultural sector. Wyld Networks has received a purchase order
with a total value of approximately SEK 12.6 million for delivery
of Wyld Connect modules over a four-year period, starting in April
2023.
The Wyld Connect solution will allow for the customer to deploy
IoT sensors in the agricultural sector to collect data directly
from satellites.
'We are pleased to announce the receipt of this purchase order.
Since launching the network in December 2022, Wyld is actively
engaged in commercial discussions to solicit purchase orders with
multiple customers for the Wyld Connect IoT module and data
service', said Alastair Williamson, CEO of Wyld Networks.
Wyld's sensor-to-satellite module allows IoT sensors to
communicate directly from sensor to Low Earth Orbit satellites.
Wyld's portfolio of modems, devices, and embedded technologies
enable communication with the cloud, no matter the location,
providing 100% global IoT coverage.
The UN's Food and Agriculture Organization has predicted that
global food production in 2050 will need to be 70% higher than in
2009, as the world population grows by nearly a third. To meet this
increase in food demand, agriculture is rapidly adopting the IoT to
collect data from the field and allow informed decisions that
increase the yield of crops, reduce the waste of water and improve
sustainability."
The full Wyld Announcement may be accessed at:
https://wyldnetworks.com/investor-relations
Enquiries
Tern Plc via IFC Advisory
Al Sisto (CEO)
Sarah Payne (CFO)
Allenby Capital Limited Tel: 0203 328 5656
(Nominated Adviser and Broker)
David Worlidge / Alex Brearley (Corporate
Finance)
Matt Butlin / Kelly Gardiner (Sales
and Corporate Broking)
IFC Advisory Tel: 0203 934 6630
(Financial PR and IR) tern@investor-focus.co.uk
Tim Metcalfe
Graham Herring
Florence Chandler
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