Business
International $2.1m IoT Components Order
International $2.1m IoT Components Order.
About this update from Solid State Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7506Z\n Solid State PLC\n 27 January 2022\n \n \n \n \n RNS Reach - non regulatory announcement\n \n \n \n Solid State plc\n \n \n (\n \"Solid State\", the \"\n Group\n \" or the \"Company\"\n )\n \n \n International $2.1m IoT Components Order\n \n \n \n \n \n Solid State plc (AIM: SOLI), the specialist value added component supplier and design-in manufacturer of computing, power, and communications products, is pleased to announce a $2.1m order for radio frequency components from a new customer CyanConnode, through its Components division, Solid State Supplies Ltd.\n \n \n CyanConnode, also listed on AIM (CYAN.L) and headquartered in Cambridge, is a world leader in Narrowband Radio Frequency Smart Mesh Networks which are used for machine to machine communication, often referred to as the 'internet of things' or 'smart technology'. CyanConnode provides customers with long-range, low-power, end-to-end networking solutions and high-performance applications that help them enhance service delivery, improve business efficiency and save energy.\n \n \n This initial $2.1m order is for component solutions for IoT connectivity to enable 'smart metering' in India and will be delivered in the next financial year (financial year ending 31 March 2023). Smart metering and its component demand are expected to have a long term requirement. \n \n \n Commenting on the order, John Macmichael, MD of Solid State Supplies, said:\n \n \n \"One of the key challenges was securing the product needed to meet CyanConnode's build requirements. Despite global supply shortages, through close collaboration with CyanConnode and our manufacturer, product has been secured and buffered to meet their forecasted requirements.\" \n \n \n Heather Peacock, CFO of CyanConnode, added:\n \n \n \"We're pleased to be collaborating with Solid State, who have been really supportive in securing these components at this time of global supply shortages of components. The Indian smart metering market is ramping up quickly with around 37 million units currently being tendered, and we need to ensure we can meet customer demand. We believe this partnership will help reinforce our position in the smart metering market.\"\n \n \n \n \n \n For further information please contact:\n \n \n \n \n \n \n \n \n \n Solid State ...