Starcom PLC Updated Contract with Zero Motorcycles (1357D)
February 17 2020 - 1:00AM
UK Regulatory
TIDMSTAR
RNS Number : 1357D
Starcom PLC
17 February 2020
17 February 2020
Starcom PLC
("Starcom" or the "Company")
Further re. Agreement with Zero Motorcycles Inc
Starcom (AIM: STAR), which specialises in the development of
wireless, Internet of Things (IoT) based solutions for the remote
tracking, monitoring and protection of a variety of assets, is
pleased to provide an update on the Company's relationship with
Zero Motorcycles Inc ("Zero").
Further to the Company's existing arrangements with Zero,
Starcom has on 13 February 2020 signed a Statement of Work ("SOW")
with Zero for the development of certain technology enhancements to
the Starcom Helios units that are integrated within Zero's
motorbikes. These enhancements will be supplied over the coming
three months. The enhanced Helios units are intended to improve
connectivity with the motorbikes, enabling Zero to centrally track
and control a greater number of such motorcycles as it scales up
production. In return, under the SOW Starcom will be entitled to a
small increase in the recurring SaaS revenues generated per
connected motorcycle. The Board of Starcom believes that this SOW
demonstrates the increased level of collaboration between the two
companies, as well as Zero's commitment to utilising Starcom's
solution.
Whilst the quantities of motorcycles incorporating the Company's
Helios units sold by Zero to date remains low, Zero has indicated
to Starcom that it anticipates a significant increase in demand for
the motorcycles in 2020.
Avi Hartmann, CEO of Starcom, commented, "This new SOW
demonstrates the depth of integration we have achieved with Zero
and the strategic nature of the relationship. We are also pleased
to see Zero's confidence in increased demand for the units.
"We believe that this is a significant milestone for Starcom and
we are proud to be part of the electrical revolution in the
transport market which we expect to lead to new customer
relationships in the sector in due course."
-ends-
Enquiries:
Starcom Plc
Michael Rosenberg, Chairman 07785 727 595
Avi Hartmann, CEO +972 5447 5663
Allenby Capital Limited (Nominated Adviser and
Broker) 020 3328 5656
James Reeve / Jeremy Porter / Asha Chotai
Peterhouse Capital Limited (Joint Broker) 020 7469 0930
Lucy Williams / Charles Goodfellow / Eran Zucker
Leander PR (Financial PR) 07795 168 157
Christian Taylor-Wilkinson
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END
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