Tern’s Wyld Networks receives SEK 12.6 million purchase order for its satellite IoT Wyld Connect module

Tern Plc (LON:TERN), the company focused on value creation from Internet of Things technology businesses, has noted that Wyld Networks AB 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. 

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.”

Tern holds 41.2% of Wyld Networks’ equity.

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