RCS - Tern PLC - Wyld Networks SEK 12.6 million Purchase Order

TernAnnouncement

12/01/2023 07:30

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RNS Number : 4567M  Tern PLC  12 January 2023

REACH

 

12 January 2023

 

Tern Plc

("Tern" or the "Company")

 

Wyld Networks SEK 12.6 million Purchase Order

 

Tern Plc (AIM:TERN), the company focused on value creation from Internet of
Things ("IoT") technology businesses, is pleased to note that Wyld Networks AB
("Wyld Networks" or "Wyld") has today announced that it has received an
approximately SEK 12.6 million (approximately £1 million) purchase order for
its satellite IoT Wyld Connect module (the "Wyld Announcement").  Tern holds
41.2% of Wyld Networks' equity.

 

Extracted from the Wyld Announcement

 

"Virtual satellite network operator Wyld Networks has been contracted to
deliver its Wyld Connect satellite IoT module to a company based in the Middle
East for deployment into the agricultural sector. Wyld Networks has received a
purchase order with a total value of approximately SEK 12.6 million for
delivery of Wyld Connect modules over a four-year period, starting in April
2023.

 

The Wyld Connect solution will allow for the customer to deploy IoT sensors in
the agricultural sector to collect data directly from satellites.

 

'We are pleased to announce the receipt of this purchase order. Since
launching the network in December 2022, Wyld is actively engaged in commercial
discussions to solicit purchase orders with multiple customers for the Wyld
Connect IoT module and data service', said Alastair Williamson, CEO of Wyld
Networks.

 

Wyld's sensor-to-satellite module allows IoT sensors to communicate directly
from sensor to Low Earth Orbit satellites. Wyld's portfolio of modems,
devices, and embedded technologies enable communication with the cloud, no
matter the location, providing 100% global IoT coverage.

 

The UN's Food and Agriculture Organization has predicted that global food
production in 2050 will need to be 70% higher than in 2009, as the world
population grows by nearly a third. To meet this increase in food demand,
agriculture is rapidly adopting the IoT to collect data from the field and
allow informed decisions that increase the yield of crops, reduce the waste of
water and improve sustainability."

 

The full Wyld Announcement may be accessed at:

https://wyldnetworks.com/investor-relations
(https://wyldnetworks.com/investor-relations)

 

Enquiries

 

 Tern Plc                                                     via IFC Advisory

 Al Sisto (CEO)

 Sarah Payne (CFO)

 Allenby Capital Limited                                      Tel: 0203 328 5656

 (Nominated Adviser and Broker)

 David Worlidge / Alex Brearley (Corporate Finance)

 Matt Butlin / Kelly Gardiner (Sales and Corporate Broking)

 IFC Advisory                                                 Tel: 0203 934 6630

 (Financial PR and IR)                                        tern@investor-focus.co.uk (mailto:tern@investor-focus.co.uk)

 Tim Metcalfe

 Graham Herring

 Florence Chandler

 

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