REG - Ethernity Networks - UEP Contract Progress Update

Ethernity NetworksAnnouncement

13/06/2022 08:15

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RNS Number : 5343O  Ethernity Networks Ltd  13 June 2022

13 June 2022

ETHERNITY NETWORKS LIMITED

("Ethernity" or the "Company")

UEP Contract Progress Update

Ethernity Networks (AIM: ENET.L), a leading supplier of networking processing
semiconductor technology ported on FPGA (field programmable gate array) for
virtualised networking appliances, announces an update on the delivery of its
contract with an international wireless connectivity vendor for the supply of
the Company's UEP module, details of which were announced on 30 July 2021 (the
"Contract").

The Company has now delivered the Universal Edge Platform (UEP) module adapted
for use in conjunction with a leading OEM wireless backhaul transmission
product to the customer, in line with the Contract, following the successful
conclusion of the development and prototype testing stages. The Company is now
progressing to the production of the remaining UEP modules under the initial
committed Contract.

The completed UEP module is a similar design to the Company's forthcoming
UEP2025, which is planned to generate additional revenue over and above the
initial contracted revenue associated with the Contract. The Company has also
completed the development of the UEP2025 and is now moving it to the initial
production stage, wherein it will undergo prescheduled testing with potential
customers, followed by targeted volume availability in Q4 2022.

The UEP2025 is equipped with the Company's patented wireless link bonding and
is targeted to serve as an ideal disaggregated, all-in-one, wireless backhaul
Indoor Unit, facilitating 5G infrastructure deployment by offering higher
bandwidth transport, faster time to market, and lower cost to deploy.

Ethernity VP R&D Shavit Baruch said: "The move to the manufacture and
supply of the UEP module for our OEM customer is a significant achievement.
Furthermore, the completion of the integration of the UEP2025 is a significant
milestone, opening the doors for deliveries into multiple sectors of the 5G
infrastructure market that were previously unavailable to the Company's sales
efforts."

About Ethernity Networks

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
NFV.

For more information on Ethernity's products and solutions, please see The
Company's website at www.ethernitynet.com (http://www.ethernitynet.com) .

 

For further information, please contact:

 

 Ethernity Networks                                Tel: +972 (0)8 915 0392
 David Levi, Chief Executive Officer
 Mark Reichenberg, Chief Financial Officer

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

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

 Arden Partners plc (Joint Broker)
 Tim Dainton                                       Tel: +44 (0)20 7614 5900

 

 

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