Last checked at 1 Jun 2022 07:00
1 June 2022
t42 IoT Tracking Solutions plc
("t42" or the "Company")
t42 successfully completes pilot with Philip Morris Ltd
Commercial delivery to IoT provider
Commencement of pilot programme with DB Schencker
t42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), the real-time tracking, security and monitoring solutions provider for the global container and freight market, is pleased to provide an update on recent deliveries and significant pilot programmes.
Highlights:
· Pilot programme completed with the Security division of Philip Morris Israel Ltd, part of the multinational tobacco company
· Commercial delivery of Lokies to a UK based IoT provider to help them provide enhanced security for goods delivered by Amazon using third party delivery services
· Pilot programme agreed with DB Schenker, one of the world's largest global logistics providers
t42 has completed a pilot programme with the Security division of Philip Morris Ltd, the Israeli affiliate of Philip Morris International, a multinational tobacco company. Having completed rigorous tests of the Company's IoT shipping container tracking solutions, with a trial of 100 units assessed against competitors over several months, Philip Morris Ltd has selected t42's product solution to help protect its shipments of high value cigarettes. After selection by Philip Morris Israel as the preferred solution, the Company will seek to market its products to other companies within the Philip Morris group.
In the UK, a multinational IoT provider which ensures security of supply for goods delivered by Amazon using third party delivery services, has now successfully completed a test of 200 Lokies units out of a planned 400 units, with the balance of the 200 units now due for commercial delivery.
In addition, DB Schenker, one of the world's largest logistics providers, has commenced an initial pilot programme of t42's tracking locks. The pilot programme is expected to proceed for some months following which t42 hopes to initiate commercial discussions.
Avi Hartmann, CEO of t42, commented:
"We are delighted to provide an update on work with customers after a busy few months.
"Following our rebranding and refocusing of our strategy in the second half of last year, our engagement with customers has led to progress with additional trials, pilot programmes and product deliveries. With major international customers, it is typically necessary to work through a thorough and often lengthy due diligence process as they test the capabilities of our products and support services. It is gratifying to see this process working and a testament to the hard work put in across the team.
"In terms of the spread of our customer base, I am pleased to see the message about the value of our real-time tracking, security and monitoring solutions is attracting interest from a diverse range of high-quality customers, from logistics providers to individual product distributors. We understand that no two clients are the same and our offering needs to work with their particular business and its needs.
"I look forward to being able to announce further progress in due course and to further broadening our customer base. Given frequently difficult and disrupted supply chains, delivering the best global shipping container tracking has never been more important than today."
Contacts:
t42 IoT Tracking Solutions PLC Michael Rosenberg, Chairman Avi Hartmann, CEO
|
07785 727595 +972 5477 35663 |
Strand Hanson Limited (Nominated Adviser and Financial Adviser) James Harris/ James Dance/ Robert Collins | 020 7409 3494 |
Peterhouse Capital Limited (Joint Broker) Lucy Williams/Charles Goodfellow/Eran Zucker
| 020 7469 0930 |
Yellow Jersey PR (Financial PR) Tom Randell/Henry Wilkinson/Annabelle Wills | 020 3004 9512 t42@yellowjerseypr.com |
Notes to Editors
t42 IoT Tracking Solutions plc (AIM: TRAC), formerly Starcom Systems plc, provides real-time tracking, analysis, monitoring and security IoT solutions for the global container and freight market and covers 55 countries, over 100 distributors and 50 logistics and support partners.
t42's multi-sensor IoT tracking devices use a wide range of detection capabilities with cloud-based analytics and alerts, with real-time data transmission, analysis and actionable insights. Its devices are used by ports, cargo owners, shipping companies, freight forwarders, insurance companies, customs authorities and homeland security and police for end-to-end global container tracking and digital transformation of shipments.
For more information on the Company, please visit: www.t42.co.uk/.
Information required pursuant to rule 26 of the AIM Rules for Companies can be found at https://www.t42.co.uk/