Wyld Networks Purchase Orders
Updated : 07:00
REACH
10 March 2022
Tern Plc
("Tern" or the "Company")
Wyld Networks Purchase Orders
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 announced that it has received purchase orders for its Wyld Connect IoT modules with a total value of US$1.7 million over a four-year period, starting in April 2022. Tern holds 58.7% of Wyld Networks' issued share capital, which is quoted on the Nasdaq First North Growth Market in Stockholm.
The Wyld Connect solution being supplied will allow the customer, a South African company, to deploy IoT sensors in the agricultural sector to collect data directly from satellites.
Wyld's sensor-to-satellite module suite with LoRaWAN®* allows IoT sensors to communicate directly from sensor to Low Earth Orbit satellites or in conjunction with terrestrial LoRa networks. Wyld's modems, devices, and embedded technology are designed to enable communication with the cloud, no matter the location, providing global IoT coverage.
The UN's Food and Agriculture Organisation has predicted that global food production in 2050 will need to be 70% higher than in 2009, as the world population grows by over a third, almost all in developing countries. To meet this increase in food demand, agriculture is rapidly adopting IoT sensors and devices to collect data from field to make informed decisions that can increase the yield of crops and reduce the waste of water.
Commenting, Alastair Williamson, CEO of Wyld Networks said: "We are pleased to announce the receipt of these purchase orders. Wyld is actively engaged with customers in piloting the service and as part of our programme we are engaged in commercial discussions to solicit purchase orders with multiple customers for the Wyld Connect IoT module ahead of the commercial launch of the service."
*The LoRaWAN® specification, developed and maintained by the LoRa Alliance®, is a Low Power, Wide Area networking protocol designed to wirelessly connect battery operated 'things' to the internet in regional, national or global networks, and targets key IoT requirements such as bi-directional communication, end-to-end security, mobility and localization services.
Enquiries
Tern Plc Al Sisto (CEO) Sarah Payne (CFO) | via IFC Advisory |
Allenby Capital Limited (Nominated Adviser and Broker) David Worlidge / Alex Brearley (Corporate Finance) Matt Butlin / Kelly Gardiner (Sales and Corporate Broking) |
Tel: 0203 328 5656 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Florence Chandler |
Tel: 0203 934 6630 |
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