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 announced that it has received a purchase order for its Wyld Connect IoT module from a Brazilian company for deployment in the forestry sector. The purchase order has a total value of SEK 11.3 million (approximately £900,000) over a three-year period, starting in 2022. Tern holds 58.7% of Wyld Networks' issued share capital, which is quoted on the Nasdaq First North Growth Market in Stockholm.
The Wyld Connect solution being supplied will allow Wyld's new customer to deploy IoT sensors in the forestry market to collect data from hard-to-reach areas directly from satellites.
Wyld's sensor-to-satellite module suite with LoRaWAN®* allows IoT sensors to communicate directly from sensor to Low Earth Orbit satellites or in conjunction with terrestrial LoRa networks. Wyld's modems, devices, and embedded technology are designed to enable communication with the cloud, no matter the location, providing global IoT coverage.
Commenting, Alastair Williamson, CEO of Wyld Networks said: "We are pleased to announce the receipt of this purchase order. The order is for the Wyld Connect IoT module and does not yet include the monthly service fee due at the service launch later this year. This order is in addition to the recently secured SEK 17 million orders that we announced on 10 March 2022, providing a total order book value of SEK 28.3 million generated in March this year.
"We continue to pilot the solution and engage with customers to secure orders for the Wyld Connect products ahead of the commercial launch of the full service later this year."
*The LoRaWAN® specification, developed and maintained by the LoRa Alliance®, is a Low Power, Wide Area networking protocol designed to wirelessly connect battery operated 'things' to the internet in regional, national or global networks, and targets key IoT requirements such as bi-directional communication, end-to-end security, mobility and localization services.
Topics: Wyld Networks