TerraNet delivers test equipment for offline communication aimed at military defense industry
TerraNet has recently been approved partner to a leading international defense industry group and has now received an order to deliver customized testing equipment to further explore use cases and to optimize TerraNet’s patented algorithms for data and video streaming outside the internet.
The order, with an initial value of SEK 425,000, comes with an option for delivery of additional test equipment worth up to SEK 1 000 000.
The order comes after TerraNet has shown positive test results in demonstrating its patented software for streaming high definition video in offline mode. A long-range data streaming was achieved, with no connection to radio networks or satellites through TerraNet’s positioning and multihop technology.
Much like self-driving cars are gaining traction, autonomous surface vessels (ASV) are projected to dominate several naval functions in the near future, with enhanced communication, both offline and online.
“After a joint test period, our client has decided to go ahead and try out our technology for different use cases and where we get the opportunity to optimize our technology for the extreme and demanding conditions that the defense industry imposes,” says Mats Lindblad, SVP Industrial IoT at TerraNet, and continues, “We see a great potential for our applications within the security and defense industry in view of the benefits our technology enables to communicate offline.”
For more information contact:
Pär-Olof Johannesson, CEO
investorrelations@terranet.se
+ 46 70 742 50 18
ABOUT TERRANET
TerraNet delivers a unique patented software technology that enables intelligent machine-to-machine communication and streaming of data, including broadband demanding HD media, regardless of any mobile network or other hot spot-dependent networks. TerraNet is headquartered in Lund, Sweden with established sales and marketing agents in San Jose, Silicon Valley, Hyderabad, India, and Taipei, Taiwan. TerraNet Holding AB (publ) is listed on Nasdaq First North Premier.
Visit: www.terranet.se
This information is information that TerraNet Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 14:00 CEST on July 14, 2017
FNCA Sweden AB is the Ceritified Adviser to TerraNet Holding AB (publ).