REG - T42 IOT Tracking Sol - T42 signs important agreement for Lokies units

t42 IoT Tracking SolutionsAnnouncement

16/01/2023 07:30

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RNS Number : 8042M  T42 IOT Tracking Solutions PLC  16 January 2023

16 January 2023

 

t42 IoT Tracking Solutions plc

("t42", the "Company" or the "Group")

 

T42 signs important agreement for container shipping Lokies tracking units

t42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), the
provider of global shipping containers tracking solutions, is pleased to
announce that, through its wholly-owned subsidiary T42 Limited, the Group has
entered into an agreement with a new Israel-based customer that provides
cutting-edge IoT and AI solutions for monitoring goods in the supply chain
("the Customer") for the sale of t42's Lokies tracking units to protect goods
and deliveries worldwide.

The agreement is for a two-year term. An initial purchase order has been
received from the Customer for 1,500 Lokies units in respect of H1 2023 sales,
with further orders anticipated over the period of the contract (including
recurring revenue streams over the following years). The Customer has been
granted certain end-client supply exclusivity rights, subject to the Customer
achieving specified quarterly sales over a 2-year period for, in aggregate,
5,000 Lokies, including the  units ordered to date.

Lokies is a unique smart keyless padlock with innovative IoT capabilities,
incorporating advanced GPS and cellular technology together with new Bluetooth
Low Energy connectivity and user management abilities. Lokies enables
customers to identify and manage different users based on their access
authorizations, making the cargo much more visible and secure.

The Customer is a leading provider of end-to-end services for goods
management. Using AI models, it provides shipment data and business
intelligence services, allowing for effective management of supply chains.

Avi Hartmann, CEO of t42, commented: "We recognize the growing demand for
supply chain management solutions and the great potential of this
multibillion-dollar industry. This new agreement puts our IoT solutions in the
spotlight, and endorses the confidence the industry has in our technology."

 

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

 Yellow Jersey PR (Financial PR)                                   020 3004 9512

 Tom Randell/ Henry Wilkinson/ Annabelle Wills                     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/) .

 

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.

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