Wyld Networks receives purchase order from Bayer Crop Science
Wyld Networks has signed a contract with Bayer Crop Science, world leader in agriculture and part of the multinational Bayer corporation. Bayer has initially placed a purchase order worth SEK 320,000 to develop a satellite IoT terminal and sensor to collect data from beehives.
The solution will provide the ability to capture data in locations with no, or poor, cellular coverage via low earth orbiting satellites. It will allow hive managers and researchers to reliably and conveniently access and share critical sensor data and offer a powerful tool to help maximise yield and optimise hive health.
Whether for pollination, honey, or honey derivative products, the demand for productive hives is growing rapidly as more and more consumers seek healthier alternatives to sugar. Honey’s health and medicinal properties are well known with consumption also driven by rises in the incidence of diabetes. The global honey market is estimated to increase from its current $8 billion to $12 billion by 2028 according to Fortune Business Insights1.
“This first purchase order is of great strategic value to Wyld Networks and in line with our growth strategy. We are very pleased to be working with Bayer to develop the product, and we expect that it will be deployed in mass volume moving forward for this specific use case with beehives”, said Alastair Williamson, CEO of Wyld Networks. “We are convinced there is a substantially growing market for affordable satellite IoT connectivity in multiple markets from agriculture, utilities, maritime and the environment, which is supported by a Rethink Research report2 predicting that 30.3 million Satellite IoT terminals will be deployed by 2025. Wyld Networks is very well positioned to capitalize on this trend and deliver connectivity and added value to customers worldwide.”
For further information, please contact:
Alastair Williamson, CEO Wyld Networks
E-mail: alastair.williamson@wyldnetworks.com
Tel: +44 7 824 997 689
This information is such that Wyld Networks AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU No 596/2014). The information was submitted for publication, through the agency of the contact person above, at 08.30 CEST on 20 September 2021.
1) https://www.fortunebusinessinsights.com/industry-reports/honey-market-100551
2) https://rethinkresearch.biz/articles/nanosats-and-new-use-cases-will-propel-satellite-iot-to-5-9bn-by-2025/
About Wyld Networks AB
Wyld Networks develop and sells innovative wireless technology solutions that enables affordable connectivity anywhere in the World, addressing the problems for businesses and people regarding the lack of global mobile network coverage. The solutions are mainly targeted to wireless connectivity for the Internet of Things (IoT) and people.
Wyld Networks Ltd was formed in Cambridge, UK in 2016 and is a wholly owned subsidiary of Wyld Networks AB.
The Wyld Networks share (WYLD) is traded on the Nasdaq First North Growth Market. Certified Adviser is Mangold Fondkommission AB (tel +46 8-5030 1550, email ca@mangold.se).
Read more on www.wyldnetworks.com