RCS - Solid State PLC - International $10.7m IoT Components Order

Solid StateAnnouncement

10/05/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230510:nRSJ8258Ya&default-theme=true

RNS Number : 8258Y  Solid State PLC  10 May 2023

RNS Reach - non regulatory announcement

 

10 May 2023

 

Solid State plc

("Solid State", the "Group" or the "Company")

Follow-on International $10.7m IoT Components Order

 

Solid State plc (AIM: SOLI), the specialist value added component supplier and
design-in manufacturer of computing, power, and communications products, is
pleased to announce a $10.7m follow-on order for radio frequency components
from its customer CyanConnode, through its Components division, Solid State
Supplies Ltd.

CyanConnode provides customers with long-range, low-power, end-to-end
networking solutions and high-performance applications that help them enhance
service delivery, improve business efficiency and save energy.  Its
Narrowband Radio Frequency Smart Mesh Networks are used for machine to machine
communication and are often referred to as the 'internet of things' or 'smart
technology'.

This order follows an initial $2.1m order announced in January 2022. Solid
State's products will continue to enable the roll-out of CyanConnode's smart
metering technology in India.

The order is expected to be delivered within the next 18 months.

Commenting on the follow-on order, John Macmichael, MD of Solid State
Supplies, said:

"Solid State Supplies has been working very closely with CyanConnode on their
longer term requirements to meet the needs of the market opportunity in India.
This close collaboration has enabled proactive stock management so that we can
both have confidence in being able to meet the delivery dates."

John Cronin, Executive Chairman of CyanConnode, added:

"We are very pleased to be placing this additional order with Solid State
Supplies to support our long term Indian smart metering programme.  They have
provided us with the reassurance of supply where component shortages have
proved one of the greatest challenges in delivering for customers at a time
when the smart metering market is growing at pace."

 

For further information please contact:

 

 Solid State plc                        Via Walbrook

 Gary Marsh - Chief Executive

 Peter James - Group Finance Director
 Walbrook PR (Financial PR)             020 7933 8780

 Tom Cooper / Nick Rome                 0797 122 1972

                                        solidstate@walbrookpr.com (mailto:solidstate@walbrookpr.com)

 

 

Analyst Research Reports: For further analyst information and research see the
Solid State plc website: https://solidstateplc.com/research/
(https://urldefense.proofpoint.com/v2/url?u=https-3A__solidstateplc.com_research_&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=05PHl3GHdShYuaCii2fBRpoqaNr9B1d97X09daeosu0&m=JmX-gQVke87P3UDBxQzNglNm9FfzH5yZtIa_SmElSS4&s=ib8r3ul2tCaEvJ39SnR1LT7nCa7gAcRQzgO-kNoyZoM&e=)

 

Notes to Editors:

Solid State plc (SOLI) is a value added electronics group supplying
commercial, industrial and defence markets with durable components,
assemblies, manufactured units and power units for use in specialist and harsh
environments.  The Group's mantra is - 'Trusted technology for demanding
environments'.  To see an introductory video on the Group
- https://bit.ly/3kzddx7 (https://bit.ly/3kzddx7)

 

Operating through two main divisions: Systems (Steatite, Active Silicon &
Custom Power) and Components (Solid State Supplies, Pacer, Willow Technologies
& AEC); the Group specialises in complex engineering challenges often
requiring design-in support and component sourcing for computing, power,
communications, electronic, electro-mechanical and opto-electronic products.

 

Headquartered in Redditch, UK, Solid State employs approximately 400 staff
across the UK and US, serving specialist markets with high barriers to entry
in industrial, defence and security, transportation, medical and energy.

 

Solid State was established in 1971 and admitted to AIM in June 1996.  The
Group has grown organically and by acquisition having made three acquisitions
in the last three years.

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRABDGDUSXGDGXC