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200.00 2.50 (1.27%)

Bid:

195.00

Ask:

205.00

Spread: 10.00 (5.128%)

Market Cap: £113.46m

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Solid State inks USD10.7 million follow-on order with CyanConnode

Wed, 10th May 2023 12:29

(Alliance News) - Solid State PLC on Wednesday celebrated a USD10.7 million follow-on order for radio frequency components from its customer CyanConnode Holdings PLC, through its Components division, Solid State Supplies Ltd.

Solid State is a Redditch, England-based supplier & design-in manufacturer of computing, power, and communications products. CyanConnode is a Cambridge, England-based narrowband RF mesh networks provider.

This order follows an initial USD2.1 million order announced in January last year. Solid State's products will continue to enable the roll-out of CyanConnode's smart metering technology in India.

The order is expected to be delivered within the next 18 months.

"Solid State Supplies has been working very closely with CyanConnode on their longer term requirements to meet the needs of the market opportunity in India. This close collaboration has enabled proactive stock management so that we can both have confidence in being able to meet the delivery dates," said Managing Director John Macmichael.

Solid State shares were trading 4.0% higher at 1,175.00 pence each in London on Wednesday afternoon. CyanConnode shares were trading 0.7% higher at 18.88 pence each.

By Holly Beveridge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com