Last checked at 8 Dec 2022 07:45
REACH
8 December 2022
Tern Plc
("Tern" or the "Company")
Launch of Wyld Networks Satellite IoT Network
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 today announced the launch of its pioneering satellite IoT network service providing 100% global connectivity for the IoT (the "Wyld Launch Announcement"). Tern's holds 46.5% of Wyld Networks' equity.
Extracted from the Wyld Launch Announcement
"We are delighted to announce the launch of Wyld's satellite IoT network. This has been the culmination of over three years of continuous development activity. We look forward to delivering connectivity to meet the fast-growing demand in the 85% of the Earth's surface with little or no current service," said Alastair Williamson. "Wyld Networks' technology enables businesses to be more efficient, productive, and sustainable."
Only 15% of the world's surface has access to the internet. According to McKinsey, it is this lack of global connectivity that is holding back the growth of the internet of things from adding US$ 2-3 trillion to the global GDP over the next ten years.1 Wyld Connect solves this problem by allowing business and governments to connect their IoT devices anywhere in the world using Low Earth Orbit (LEO) satellites.
Wyld have established agreements with over 40 launch partners along with a SEK 34 million backlog of purchase orders for its Wyld Connect IoT module and data service. We anticipate many additional partnerships and customers in 2023, as we continue to solve the complex problem of connecting data at low power to LEO satellites and delivering that data to the customers that need it.
Furthermore, developments in big data analytics are driving the need for more data from sensors on the ground. Big data platforms are hungry for the type of information Wyld's satellite IoT can deliver.
With the launch of the satellite IoT network service Wyld can address in part the satellite IoT market demand, which according to a forecast by Rethink IoT (RIoT), will be worth US$5.9bn by 2025.2
The full Wyld Launch Announcement may be accessed at:
https://wyldnetworks.com/investor-relations
Sources:
1 Agriculture's technology future: How connectivity can yield new growth | McKinsey
2 Nanosats and new use cases will propel satellite IoT to $5.9bn by 2025 - Rethink (rethinkresearch.biz)
Enquiries
Tern Plc Al Sisto (CEO) Sarah Payne (CFO) | via IFC Advisory |
Allenby Capital Limited (Nominated Adviser and Broker) David Worlidge / Alex Brearley (Corporate Finance) Matt Butlin / Kelly Gardiner (Sales and Corporate Broking) |
Tel: 0203 328 5656 |
IFC Advisory (Financial PR and IR) Tim Metcalfe Graham Herring Florence Chandler |
Tel: 0203 934 6630 tern@investor-focus.co.uk |
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