Successful exiting the TSP1 Feb 2024 19:53
Subject to successfully exiting the TSP, the Company's strategic focus for 2024 will be on enhancing sales of its Universal Edge Platform ("UEP") fibre access offering, including the low power remote OLT and optical interworking units, as well as its 5G Open RAN data plane offload solutions. These solutions are based on Ethernity's networking semiconductor technology that enables it to provide a differentiated and innovative offering to its customers. The Board considers that these growing markets offer significant growth potential for Ethernity.
The Company's UEP employs the ENET Flow Processor firmware with best-in-class Carrier Ethernet Switch technology that, to date, has been deployed in more than 950,000 different systems. The global market for Carrier Ethernet Access devices was estimated to be valued at US$17.2 billion in 2022[1] and several OEMs are currently evaluating the Company's UEP. The UEP is available to potential customers either through licensing of the Company's IP or via sales of complete systems, including software applications up to an eASIC offering. While the majority of the ongoing discussions with OEMs for Ethernity's UEP are in the field of support for wireless link bonding, certain potential opportunities are targeting general purpose Carrier Ethernet Switch appliances, which include other unique monitoring and AI differentiated networking functions. Ethernity is able to provide a differentiated and cost-effective offering to its clients due to the Company's proprietary IP and technology.
An updated version of the Ethernity's corporate presentation, providing further background to the Company's target markets and solutions in these markets, will shortly be available on the Company's website, www.ethernitynet.com/investors.
David Levi, CEO of Ethernity Networks, commented: "While we have had an extremely challenging year, particularly over the last three months, the team has been working tirelessly to release the UEP products with the required functionalities for our targeted customers. Together with our Fibre Access offering, which is targeting the US$50bn PON Market, and our 5G Open RAN data plane offload solutions, we are hopeful that 2024 will be a transformative year for Ethernity and, with our careful cost control on the reduced operating cost base, our goal is to generate positive cashflow."
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