REG - T42 IOT Tracking Sol - Significant distribution agreement in Argentina

t42 IoT Tracking SolutionsAnnouncement

13/07/2022 07:00

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RNS Number : 2424S  T42 IOT Tracking Solutions PLC  13 July 2022

The information contained within this announcement is deemed by the Company to
constitute inside information pursuant to Article 7 of EU Regulation 596/2014
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 as amended.

 

13 July 2022

 

t42 IoT Tracking Solutions plc

("t42" or the "Company")

 

t42 signs significant distribution agreement in Argentina

 

t42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), the
provider of shipping container tracking solutions, is pleased to announce
that, following a successful and intensive pilot programme, it has signed an
agreement with a second LATAM distributor to provide t42 solutions to local
port authorities over four years from 2023, with an estimated total value of
over US$16 million.

 

The pilot programme was conducted at an Argentinian port with successful
results from an initially deployed 200 test units of smart tracking locks
("Lokies") over a period of 14 months. This pilot programme involved two
official approval processes: the Lokies were fully certified for use and the
online portal was successfully integrated and certified by the Argentinian
customs authority.

 

The agreement includes both hardware and recurring SaaS service revenues,
which are expected to continue while the equipment remains operational.
Hardware sales and revenues are expected to commence from the beginning of
2023 and materially increase from 2024 as larger volume orders are delivered.

 

The technological solution being offered provides proven solutions for port
authorities, enabling them to limit smuggling activities, ensure compliance
with cross-border regulations, and secure significant local jurisdiction tax
revenues.

Avi Hartmann, CEO of t42, commented:

 

"We are thrilled to announce a further contract win in Latin America following
a successful pilot scheme. It is especially pleasing to see more evidence of
the growing recognition of the value of our offering in the region and beyond.
We have always known that the best way to showcase our products is to show
them in action.

 

"We are seeing increased needs from many directions for better information
about containers, as they are at the heart of so many global supply chains.
There is strong demand for current, reliable, and actionable data for all
kinds of stakeholders, including governments, manufacturers, shipping
companies, and customers."

 

 

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/ James Dance/ Robert Collins

 Peterhouse Capital Limited (Joint Broker)                        020 7469 0930

 Lucy Williams/Charles Goodfellow/Eran Zucker

 Yellow Jersey PR (Financial PR)                                  020 3004 9512

 Tom Randell/Henry Wilkinson/Annabelle Wills                      t42@yellowjerseypr.com (mailto:t42@yellowjerseypr.com)

 

Notes to Editors

 

t42 IoT Tracking Solutions plc (AIM: TRAC), formerly Starcom Systems plc,
provides real-time tracking, analysis, monitoring, and security IoT solutions
for the global container and freight market and covers 55 countries, over 100
distributors, and 50 logistics and support partners.

 

t42's multi-sensor IoT tracking devices use a wide range of detection
capabilities with cloud-based analytics and alerts, with real-time data
transmission, analysis, and actionable insights. Its devices are used by
ports, cargo owners, shipping companies, freight forwarders, insurance
companies, customs authorities, homeland security, and police for end-to-end
global container tracking and digital transformation of shipments.

 

For more information on the Company, please visit: www.t42.co.uk/
(http://www.t42.co.uk/) .

 

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