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t42 IoT Tracking Solutions PLC - Jersey-based real-time tracking, security, and monitoring solutions provider - Receives an additional order of 2,500 Tetis units, from a US-based client, on top of the order of 1,000 units that was announced in January. t42 did not disclose financial details of the order. The agreement provides for monthly payments over a 36-month period, in order to cover both device and data costs.
Tetis is a container tracking and monitoring solution for cargo. Installed on a container’s door hinge, cellular engine and GPS are used to monitor its location, as well as deviations from the planned route.
Chief Executive Avi Hartmann says: ‘2023 continues to show trust in our products and services. In placing a second order only two months after the first, the client has expressed its confidence in our technology.’
Current stock price: 6.33 pence, up 10% in London on Monday afternoon
12-month change: down 56%
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