RCS - T42 IOT Tracking Sol - Satellite-Based 5G IoT Maritime Tracking Solution

t42 IoT Tracking SolutionsAnnouncement

01/12/2023 07:00

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RNS Number : 3146V  T42 IOT Tracking Solutions PLC  01 December 2023

REACH

1 December 2023

t42 IoT Tracking Solutions plc

Sateliot and t42 Lead the Way with Satellite-Based 5G IoT Maritime Tracking
Solution

T42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), and
Sateliot IOT Sefvices S.L. ("Sateliot"), based in Barcelona, the first company
to operate a Low-Earth orbit (LEO) 5G IoT satellite constellation, are pleased
to announce that the parties have agreed to collaborate to boost their
connected containers offerings.

t42 intends to incorporate 5G-IoT communication modules into its existing and
future devices deployed in containers for its more than 50 logistics partners
across the Globe, connecting them to Sateliot's satellites, thus eliminating
the problem of lack of coverage on the high seas. This will ensure secure
control of merchandise at all times, as these modules monitor location,
acceleration, temperature, humidity, impacts, tilt, light conditions, and
container damage, among other parameters, providing intelligent detection of
these variables anytime, anywhere. Positioned at the forefront of
technological innovation, t42 consistently spearheads advancements in the
dynamic landscape of the IoT market. The Company's commitment extends to
leading the charge in revolutionising the tracking and monitoring of shipping
containers. By seamlessly integrating cutting-edge technologies, we empower
businesses to thrive in the fast-evolving global container and freight market.

Currently, a significant majority of maritime transport containers are not
tracked or inspected due to a lack of cellular and satellite connectivity,
leading to losses from cargo theft, tampering, accidents, damages, etc. In
response, shipping companies are allocating significant capital to address
this, targeting to make 25% of their containers 'smart' by 2026. Furthermore,
maritime companies handle 80% of international trade goods by volume. It is
estimated  that shipping companies could save many billions of euros annually
by transitioning to smart connected containers.

Sateliot's unique technology allows extending 5G NarrowBand-IoT connectivity
to any part of the world without terrestrial coverage, without operators
having to change their hardware, and at a low cost. The significance of this
technology lies in the premise that operators can connect to the nanosatellite
network via a roaming service when they need to extend their coverage.
Furthermore, the low cost per device and connection is an added advantage
driving this innovation.

The combination of Sateliot's technology and t42's hardware is an opportunity
to revolutionise a sector that has mostly stayed the same since Malcolm McLean
invented the shipping container in 1956.

Back then, the revolutionary solution came from the new standardised way of
shipping goods, with a newly designed container perfectly shaped to fit all
ships, tools, and ports. Now, the Company believes, a second revolution is in
process with the new 5G standard for IoT communications capable of connecting
devices seamlessly to satellite (NTN) and cellular networks.

Jaume Sanpera, Sateliot's CEO, said: "Our collaboration marks a pivotal moment
in the industry's history, transforming traditional shipping containers into
intelligent, connected assets. Tracking in open seas, until now, a very
luxurious satellite service will be democratised to all."

Avi Hartmann, t42's CEO, added: "It is unbelievable what a small hardware
investment can represent for the industry's performance overall. This change
has come to stay; there's no doubt about it and t42 has positioned itself to
be a leader in this change over the next few years."

 

Contacts:

 

 t42 IoT Tracking Solutions PLC

 Michael Rosenberg, Chairman                                      07785 727595

 Avi Hartmann, CEO                                                +972 5477 35663

 Strand Hanson Limited (Nominated Adviser and Financial Adviser)  020 7409 3494

 James Harris/ Richard Johnson/ Robert Collins

 Peterhouse Capital Limited                                       020 7469 0930

 Lucy Williams/Charles Goodfellow/Eran Zucker

 

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