REG - T42 IOT Tracking Sol - Trading Update

t42 IoT Tracking SolutionsAnnouncement

01/06/2022 07:00

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RNS Number : 4777N  T42 IOT Tracking Solutions PLC  01 June 2022

 

 

 

1 June 2022

 

 

t42 IoT Tracking Solutions plc

("t42" or the "Company")

 

t42 successfully completes pilot with Philip Morris Ltd

Commercial delivery to IoT provider

Commencement of pilot programme with DB Schencker

 

t42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), the
real-time tracking, security and monitoring solutions provider for the global
container and freight market, is pleased to provide an update on recent
deliveries and significant pilot programmes.

 

Highlights:

 

·  Pilot programme completed with the Security division of Philip Morris
Israel Ltd, part of the multinational tobacco company

·     Commercial delivery of Lokies to a UK based IoT provider to help
them provide enhanced security for goods delivered by Amazon using third party
delivery services

·     Pilot programme agreed with DB Schenker, one of the world's
largest global logistics providers

 

t42 has completed a pilot programme with the Security division of Philip
Morris Ltd, the Israeli affiliate of Philip Morris International, a
multinational tobacco company. Having completed rigorous tests of the
Company's IoT shipping container tracking solutions, with a trial of 100 units
assessed against competitors over several months, Philip Morris Ltd has
selected t42's product solution to help protect its shipments of high value
cigarettes. After selection by Philip Morris Israel as the preferred solution,
the Company will seek to market its products to other companies within the
Philip Morris group.

 

In the UK, a multinational IoT provider which ensures security of supply for
goods delivered by Amazon using third party delivery services, has now
successfully completed a test of 200 Lokies units out of a planned 400 units,
with the balance of the 200 units now due for commercial delivery.

 

In addition, DB Schenker, one of the world's largest logistics providers, has
commenced an initial pilot programme of t42's tracking locks. The pilot
programme is expected to proceed for some months following which t42 hopes to
initiate commercial discussions.

 

Avi Hartmann, CEO of t42, commented:

 

"We are delighted to provide an update on work with customers after a busy few
months.

 

"Following our rebranding and refocusing of our strategy in the second half of
last year, our engagement with customers has led to progress with additional
trials, pilot programmes and product deliveries. With major international
customers, it is typically necessary to work through a thorough and often
lengthy due diligence process as they test the capabilities of our products
and support services. It is gratifying to see this process working and a
testament to the hard work put in across the team.

 

"In terms of the spread of our customer base, I am pleased to see the message
about the value of our real-time tracking, security and monitoring solutions
is attracting interest from a diverse range of high-quality customers, from
logistics providers to individual product distributors. We understand that no
two clients are the same and our offering needs to work with their particular
business and its needs.

 

"I look forward to being able to announce further progress in due course and
to further broadening our customer base. Given frequently difficult and
disrupted supply chains, delivering the best global shipping container
tracking has never been more important than today."

 

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 and 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/) .

 

Information required pursuant to rule 26 of the AIM Rules for Companies can be
found at https://www.t42.co.uk/ (https://www.t42.co.uk/)

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