RCS - Tern PLC - Wyld Networks SEK 9.2 million Purchase Order

TernAnnouncement

13/03/2023 07:45

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RNS Number : 6675S  Tern PLC  13 March 2023

REACH

 

13 March 2023

 

Tern Plc

("Tern" or the "Company")

 

Wyld Networks SEK 9.2 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 9.2 million (approximately £0.7 million) purchase order for
the Wyld Data service (the "Wyld Announcement").  Tern currently holds 40.2%
of Wyld Networks' equity.

 

Extracted from the Wyld Announcement:

 

Following an earlier order for Wyld Connect modules in 2022, Wyld Networks
today announces an additional order for SEK 9.2 million for the Wyld Data
service from a South African company deploying soil moisture sensors to
optimize irrigation and automate scheduling systems for agriculture.

 

Wyld's customer manufactures and markets highly specialized soil moisture
sensors and end-user applications for agricultural markets providing solutions
to more than 6,500 companies internationally.

 

Agriculture accounts for 70% of all water consumed globally, and 40% of that
water is wasted due to poor irrigation systems, evaporation, and overall poor
water management. The use of data from soil moisture probes and data driven
analytics to optimise irrigation has been shown to reduce that waste of water
by up to 30% and increase yield of crops by upto 30%.

 

However, 85% of the world's surface has no access to the internet to collect
this data and farmland is typically located in this area. Wyld's end-to-end
satellite IoT solution provides our customers with 100% global connectivity to
ensure this critical data can be collected from anywhere in the world to
ensure reduction of waste of water and increase yield in crops.

 

"Providing soil and irrigation data is key to meeting agricultural
sustainability goals and yield targets,' said Alastair Williamson, CEO of Wyld
Networks. 'We are delighted to be helping our partner to deliver data anywhere
in the world via low earth orbiting satellites to meet this challenge. We have
to date secured an order intake of approximately SEK 76 million. These orders
are predominantly comprised of 223,000 Wyld Connect modules. Wyld are now
pleased to see the start of order intakes for the Wyld Data service."

 

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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