Update on strategy, trading and $1.5 million order

About this update from Ethernity Networks Ltd.

1 August 2023 ETHERNITY NETWORKS LTD. ("Ethernity" or the "Company")   Strategy and trading update and update on $1.5 million order   Ethernity Networks (AIM: ENET.L; OTCQB: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, announces an update on its recent $1.5 million purchase order and the following update on the Company's strategy and trading.   $1.5m purchase order   The Company is pleased to report that it has completed the delivery of the Company's data processing system-on-chip ("SoC") devices to its existing fixed wireless customer pursuant to the $1.5 million purchase order announced on 29 June 2023. The Company delivered c. 40% of the order in June 2023 and has received the payment for this portion, with the balance delivered in July 2023 and due for payment by the end of August 2023.   Strategy update   Ethernity's Passive Optical Network ("PON") controller technology can be used in different broadband network configurations and platforms including in fiber-to-the-premises ("FTTP"), fiber-to-the-building ("FTTB") and fiber-to-the-home/fiber-to-the-room ("FTTH"/"FTTR") (together, "FTTx"). This provides Ethernity with the opportunity to offer its PON solutions for a variety of different scenarios.   There is significant global investment in improving fiber connectivity, particularly in the EU, USA and India. FTTH Council Europe has estimated that by 2027 approximately 300 million homes will be connected to fiber.  In the USA, $42.5 billion has been allocated to investment in broadband infrastructure projects pursuant to the "Broadband Equity, Access, and Deployment (BEAD) Program".  With certain of those territories banning the use of products manufactured by Chinese system vendors, this has provided the opportunity for new vendors to enter the market.    Ethernity's go to market strategy is to provide an alternative source of PON technology for system vendors, by offering the Company's PON controller both on Field Programmable Gate Arrays ("FPGAs") and in application specific integrated circuits ("ASICs"), whilst combining its PON technology and flow processor switch technology onto a single ASIC, thereby delivering a complete Optical Line Terminal ("OLT") on a chip.     The Company's customized PON solution on FPGAs will be offered ...

View stock analysis, news, and events for Ethernity Networks Ltd.