RCS - Solid State PLC - International $2.1m IoT Components Order

Solid StateAnnouncement

27/01/2022 07:00

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RNS Number : 7506Z  Solid State PLC  27 January 2022

RNS Reach - non regulatory announcement

 

Solid State plc

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

International $2.1m 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 $2.1m order for radio frequency components from a new
customer CyanConnode, through its Components division, Solid State Supplies
Ltd.

CyanConnode, also listed on AIM (CYAN.L) and headquartered in Cambridge, is a
world leader in Narrowband Radio Frequency Smart Mesh Networks which are used
for machine to machine communication, often referred to as the 'internet of
things' or 'smart technology'.  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.

This initial $2.1m order is for component solutions for IoT connectivity to
enable 'smart metering' in India and will be delivered in the next financial
year (financial year ending 31 March 2023). Smart metering and its component
demand are expected to have a long term requirement.

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

"One of the key challenges was securing the product needed to meet
CyanConnode's build requirements. Despite global supply shortages, through
close collaboration with CyanConnode and our manufacturer, product has been
secured and buffered to meet their forecasted requirements."

Heather Peacock, CFO of CyanConnode, added:

"We're pleased to be collaborating with Solid State, who have been really
supportive in securing these components at this time of global supply
shortages of components. The Indian smart metering market is ramping up
quickly with around 37 million units currently being tendered, and we need to
ensure we can meet customer demand. We believe this partnership will help
reinforce our position in the smart metering market."

 

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 military markets with durable components,
assemblies and manufactured units for use in specialist and harsh
environments.  The Group's mantra is - 'Trusted technology for demanding
applications'.  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)
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 300 staff
across UK and US, serving specialist markets 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 12 acquisitions
since 2002.

 

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