T42 IOT Tracking Solutions PLC T42 signs important agreement for Lokies units (8042M)
January 16 2023 - 1:30AM
UK Regulatory
TIDMTRAC
RNS Number : 8042M
T42 IOT Tracking Solutions PLC
16 January 2023
16 January 2023
t42 IoT Tracking Solutions plc
("t42", the "Company" or the "Group")
T42 signs important agreement for container shipping Lokies
tracking units
t42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the
"Company"), the provider of global shipping containers tracking
solutions, is pleased to announce that, through its wholly-owned
subsidiary T42 Limited, the Group has entered into an agreement
with a new Israel-based customer that provides cutting-edge IoT and
AI solutions for monitoring goods in the supply chain ("the
Customer") for the sale of t42's Lokies tracking units to protect
goods and deliveries worldwide.
The agreement is for a two-year term. An initial purchase order
has been received from the Customer for 1,500 Lokies units in
respect of H1 2023 sales, with further orders anticipated over the
period of the contract (including recurring revenue streams over
the following years). The Customer has been granted certain
end-client supply exclusivity rights, subject to the Customer
achieving specified quarterly sales over a 2-year period for, in
aggregate, 5,000 Lokies, including the units ordered to date.
Lokies is a unique smart keyless padlock with innovative IoT
capabilities, incorporating advanced GPS and cellular technology
together with new Bluetooth Low Energy connectivity and user
management abilities. Lokies enables customers to identify and
manage different users based on their access authorizations, making
the cargo much more visible and secure.
The Customer is a leading provider of end-to-end services for
goods management. Using AI models, it provides shipment data and
business intelligence services, allowing for effective management
of supply chains.
Avi Hartmann, CEO of t42, commented: " We recognize the growing
demand for supply chain management solutions and the great
potential of this multibillion-dollar industry. This new agreement
puts our IoT solutions in the spotlight, and endorses the
confidence the industry has in our technology."
Contacts:
t42 IoT Tracking Solutions PLC
Michael Rosenberg, Chairman 07785 727595
Avi Hartmann, CEO +972 5477 35663
Strand Hanson Limited (Nominated Adviser
and Financial Adviser)
James Harris/ Richard Johnson/ Robert Collins 020 7409 3494
Peterhouse Capital Limited
Lucy Williams/ Charles Goodfellow/ Eran Zucker 020 7469 0930
Yellow Jersey PR (Financial PR) 020 3004 9512
Tom Randell/ Henry Wilkinson/ Annabelle Wills 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,
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/ .
The information contained within this announcement is deemed by
the Company to constitute inside information pursuant to Article 7
of EU Regulation 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 as amended.
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END
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