TCM.L Regulatory News (TCM)

Telit selected for smart utility meter project in the Netherlands valued at more than US$30 million

London, October 8, 2015 - Telit, a global enabler of the Internet of Things (IoT), today announced that the company has secured a commitment valued at more than US$30 million to supply CDMA 450 MHz modules to one of the leading smart meter vendors for a Netherlands project. The Telit IoT modules are at the core of a new generation of smart electricity meters that Dutch utility companies will deploy nationwide over five years starting in 2016 with most of the shipments front-loaded in the initial years. The Internet of Things allows electrical utilities to better balance energy supply and demand during peak and off-peak times - ultimately reducing overall consumption and lowering utility bills.

The rugged, single-band CE910-SL was designed specifically for applications in areas where CDMA450 coverage exists as a commercial mobile network operation or where it can be licensed to be developed as a private network by utilities, emergency response organizations, and other similar government and private groups.

The company launched the CE910-SL earlier this year in sync with the opening of new markets resulting from the granting of 450MHZ spectrum by some European governments, securing Telit first-mover advantage for large scale projects such as this one. The CE910-SL provides excellent in-building performance making it ideal for smart utility meters frequently installed deep inside residential or commercial dwellings. The company has been in CDMA since 2006 and it has the industry's broadest CDMA product portfolio.

 "The CE910-SL is a remarkable success story for us. It went from concept to commercial product in less than a year; and qualified us uniquely to supply to projects like this one in the Netherlands," said Yosi Fait, President and Finance Director, Telit. "This is also a great example of how well equipped Telit is to take advantage of these types opportunities in the dynamic IoT market which are becoming more abundant."

About Telit

Telit (AIM: TCM), is the global leader in Internet of Things (IoT) enablement. The company offers the industry's broadest portfolio of integrated products and services for end-to-end IoT deployments - including cellular communication modules in all technologies, GNSS, short-to-long range wireless modules, IoT connectivity plans and IoT platform services. Through the IoT Portal, Telit makes IoT onboarding easy, reduces risk, time to market, complexity and costs for asset tracking, remote monitoring and control, telematics, industrial automation and others, across many industries and vertical markets worldwide.

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