Business
Fibre controller business update
Fibre controller business update.
About this update from Ethernity Networks Ltd.
[{"type":"text","content":"\n\n6 June 2023\nETHERNITY NETWORKS LTD.\n(\"Ethernity\" or the \"Company\")\n \nFibre controller business update\n \nEthernity Networks (AIM: ENET.L; OTCQB: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, is pleased to provide an update on the fulfilment of its fibre controller contracts, announced on 18 October 2021 and 20 September 2022.\n \nFollowing discussions with its Field Programmable Gate Arrays (FPGA) supplier, the Company has secured supply of the components required to fulfil the contracted orders and deliveries as per the contracts signed for the current year. The secured supply of components will enable the Company to generate revenues of $3.3 million in the current financial year which equals almost 80% of the pipeline from these contracts in the current financial year.\n \nEthernity plans to continue working with new customers and with the existing customer to secure and deliver beyond this amount for the current financial year.\n \nThe Passive Optical Networking (PON) products, including XGS-PON Optical Line Termination (OLT) and Fibre-to-the Room (FTTR), were successfully factory tested, and the Company is progressing with the existing customer on deployment. The Company is engaged in further testing and discussions with other major OEMs for its PON fibre controller devices and PON systems over and above the current signed contracts. As a result, the Company will continue to target sales of licensing fees for its PON fibre controller System-on-Chip (SoC) and sales of its PON fibre controller OLT system in various configurations.\n \nDavid Levi, CEO of Ethernity Networks, commented: \"We're pleased that we have concluded a process to secure components to meet the planned, contracted deliveries.\"\n \nFor further information, please contact:\n \n\n\n\nEthernity Networks Ltd\n\n\nTel: +972 8 915 0392\n\n\n\n\nDavid Levi, Chief Executive Officer\n\n\n\n\n\n\n\nMark Reichenberg, Chief Financial Officer\n \n\n\n\n\n\n\n\nAllenby Capital Limited (Nominated Adviser and Joint Broker)\n\n\nTel: +44 (0)20 3328 5656\n\n\n\n\nJames Reeve / Piers Shimwell (Corporate Finance)\nAmrit Nahal / Stefano Aquilino (Sales and Corporate Broking)\n \n\n\n\n\n\n\n\nPeterhouse Capital Limited (Joint Broker)\n\n\nTel: +44 (0)20 7562 0930\n...