T42 Iot Track. Regulatory News (TRAC)

REACH

1 December 2023

t42 IoT Tracking Solutions plc

Sateliot and t42 Lead the Way with Satellite-Based 5G IoT Maritime Tracking Solution

T42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), and Sateliot IOT Sefvices S.L. ("Sateliot"), based in Barcelona, the first company to operate a Low-Earth orbit (LEO) 5G IoT satellite constellation, are pleased to announce that the parties have agreed to collaborate to boost their connected containers offerings.

t42 intends to incorporate 5G-IoT communication modules into its existing and future devices deployed in containers for its more than 50 logistics partners across the Globe, connecting them to Sateliot's satellites, thus eliminating the problem of lack of coverage on the high seas. This will ensure secure control of merchandise at all times, as these modules monitor location, acceleration, temperature, humidity, impacts, tilt, light conditions, and container damage, among other parameters, providing intelligent detection of these variables anytime, anywhere. Positioned at the forefront of technological innovation, t42 consistently spearheads advancements in the dynamic landscape of the IoT market. The Company's commitment extends to leading the charge in revolutionising the tracking and monitoring of shipping containers. By seamlessly integrating cutting-edge technologies, we empower businesses to thrive in the fast-evolving global container and freight market.

Currently, a significant majority of maritime transport containers are not tracked or inspected due to a lack of cellular and satellite connectivity, leading to losses from cargo theft, tampering, accidents, damages, etc. In response, shipping companies are allocating significant capital to address this, targeting to make 25% of their containers 'smart' by 2026. Furthermore, maritime companies handle 80% of international trade goods by volume. It is estimated that shipping companies could save many billions of euros annually by transitioning to smart connected containers.

Sateliot's unique technology allows extending 5G NarrowBand-IoT connectivity to any part of the world without terrestrial coverage, without operators having to change their hardware, and at a low cost. The significance of this technology lies in the premise that operators can connect to the nanosatellite network via a roaming service when they need to extend their coverage. Furthermore, the low cost per device and connection is an added advantage driving this innovation.

The combination of Sateliot's technology and t42's hardware is an opportunity to revolutionise a sector that has mostly stayed the same since Malcolm McLean invented the shipping container in 1956.

Back then, the revolutionary solution came from the new standardised way of shipping goods, with a newly designed container perfectly shaped to fit all ships, tools, and ports. Now, the Company believes, a second revolution is in process with the new 5G standard for IoT communications capable of connecting devices seamlessly to satellite (NTN) and cellular networks.

Jaume Sanpera, Sateliot's CEO, said: "Our collaboration marks a pivotal moment in the industry's history, transforming traditional shipping containers into intelligent, connected assets. Tracking in open seas, until now, a very luxurious satellite service will be democratised to all."

Avi Hartmann, t42's CEO, added: "It is unbelievable what a small hardware investment can represent for the industry's performance overall. This change has come to stay; there's no doubt about it and t42 has positioned itself to be a leader in this change over the next few years."

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