REG - Ethernity Networks - U.S. Aerospace Project extension

Ethernity NetworksAnnouncement

28/03/2025 07:00

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RNS Number : 5684C  Ethernity Networks Ltd  28 March 2025

 

28 March 2025

 

ETHERNITY NETWORKS LTD

("Ethernity" or the "Company")

 

U.S. Aerospace Project Extension

 

Ethernity Networks (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data
processing semiconductor technology for networking appliances, announces an
extension to its $1.05 million contract signed with a Tier 1 U.S.-based
aerospace system products provider (the "Customer"), details of which were
first announced on 28 June 2024.

 

On 13 March 2025, the Company announced that it anticipated an extension to
the project and we are now pleased to confirm that the licensing deal with the
Customer has been extended by an additional $290,000, bringing the total
contract value to $1.34 million. The additional work will be dedicated to the
development of additional functionalities beyond the original scope of the
project, with implementation anticipated over the next three months.

 

The Company anticipates further revenue from the Customer during H2 2025.

 

 

For further information, please contact:

 

 Ethernity Networks Ltd                                         Tel: +972 3 748 9846
 David Levi, Chief Executive Officer

 Tomer Asis, Chief Financial Officer

 Allenby Capital Limited (Nominated Adviser and Joint Broker)   Tel: +44 (0)20 3328 5656
 James Reeve / Piers Shimwell (Corporate Finance)

 Amrit Nahal / Stefano Aquilino (Sales and Corporate Broking)

 CMC Markets UK plc (Joint Broker)                              Tel: +44 (0)20 3003 8632
 Douglas Crippen

 Peterhouse Capital Limited (Joint Broker)                      Tel: +44 (0)20 7562 0930
 Lucy Williams / Duncan Vasey / Eran Zucker

 

About Ethernity (www.ethernitynet.com)

 

Ethernity Networks (AIM: ENET.L) provides innovative, comprehensive networking
and security solutions on programmable hardware for accelerating telco/cloud
networks. Ethernity's semiconductor logic offers complete Carrier Ethernet
Switch Router data plane processing and control software with a rich set of
networking features, robust security, and a wide range of virtual function
accelerations to optimize telecommunications networks. Ethernity's complete
solutions quickly adapt to customers' changing needs, improving
time-to-market, and facilitating the deployment of 5G, edge computing, and
Broadband Networks.

 

 

 

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