REACH
13 March 2023
Tern Plc
("Tern" or the "Company")
Wyld Networks SEK 9.2 million Purchase Order
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 that it has received an approximately SEK 9.2 million (approximately £0.7 million) purchase order for the Wyld Data service (the "Wyld Announcement"). Tern currently holds 40.2% of Wyld Networks' equity.
Extracted from the Wyld Announcement:
Following an earlier order for Wyld Connect modules in 2022, Wyld Networks today announces an additional order for SEK 9.2 million for the Wyld Data service from a South African company deploying soil moisture sensors to optimize irrigation and automate scheduling systems for agriculture.
Wyld's customer manufactures and markets highly specialized soil moisture sensors and end-user applications for agricultural markets providing solutions to more than 6,500 companies internationally.
Agriculture accounts for 70% of all water consumed globally, and 40% of that water is wasted due to poor irrigation systems, evaporation, and overall poor water management. The use of data from soil moisture probes and data driven analytics to optimise irrigation has been shown to reduce that waste of water by up to 30% and increase yield of crops by upto 30%.
However, 85% of the world's surface has no access to the internet to collect this data and farmland is typically located in this area. Wyld's end-to-end satellite IoT solution provides our customers with 100% global connectivity to ensure this critical data can be collected from anywhere in the world to ensure reduction of waste of water and increase yield in crops.
"Providing soil and irrigation data is key to meeting agricultural sustainability goals and yield targets,' said Alastair Williamson, CEO of Wyld Networks. 'We are delighted to be helping our partner to deliver data anywhere in the world via low earth orbiting satellites to meet this challenge. We have to date secured an order intake of approximately SEK 76 million. These orders are predominantly comprised of 223,000 Wyld Connect modules. Wyld are now pleased to see the start of order intakes for the Wyld Data service."
The full Wyld Announcement may be accessed at:
https://wyldnetworks.com/investor-relations
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 |
About Reach announcements
This is a Reach announcement. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.
Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.