ENET Ethernity Networks Ltd

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RNS Number : 5108G

Ethernity Networks Ltd

16 November 2022

16 November 2022

ETHERNITY NETWORKS LIMITED

("Ethernity" or the "Company")

Ethernity FPGA SoC selected for second-generation Fixed Wireless base station by an existing customer

Highlights

-- Follow-on order after shipment by Ethernity of majority of the initial $2m of ENET FPGA SoC devices for the Customers' First-Generation FWA based station product

-- Ethernity will provide ENET FPGA SoC device with networking processing functionality adapted to support the Customer's requirement for second-generation Fixed Wireless Access base station node

-- Ethernity's new ENET FPGA SoC is expected to double the capacity of the first-generation product

Ethernity Networks (AIM: ENET.L; OTCQB: ENETF), a leading supplier of data processing semiconductor technology for virtualized networking appliances, announces today that its existing American Fixed Wireless OEM customer ("the Customer") has selected Ethernity's data processing system-on-chip ("SoC") for its second-generation Fixed Wireless Access ("FWA") base station node product.

Ethernity has been providing the Customer with an ENET field programmable gate array ("FPGA") SoC device for use in the Customer's first-generation product base station FWA nodes. Following the successful deployment by the Customer of the first-generation FWA base station nodes, embedding the Ethernity ENET FPGA SoC, it has submitted a follow-on order to the Company for the development of a new ENET FPGA SoC supporting network functions and critical traffic management features for a double capacity FWA second-generation base station node product.

The order from the Customer is valued at $340,000 and combines customisation development costs and an initial order of ENET FPGA SoC devices, with complete delivery of the new ENET FPGA SoC planned for end of H1 2023. Thereafter, subject to the deployment of the second-generation product by the Customer, the Company anticipates that orders for the new ENET FPGA SoC device may follow. This latest order from the Customer is over and above the $2 million deployment order for the existing ENET FPGA SoC order (as announced on 27 May 2021) for the first-generation FWA base station node product that the Company delivered during 2021 and 2022, and the $800,000 ENET FPGA SoC order (as announced on 8 April 2022) which is expected to be delivered in 2023.

Ethernity has provided the Customer with its unique silicon-tuned software, which, due to the efficiency of the data processing SoC's design, fits into low-cost FPGAs. Working in concert with the Customer's radio technology in its tower-installed base nodes, the Ethernity SoC provides advanced networking functions, traffic control, and management for hundreds of homes per ENET SoC.

David Levi, CEO of Ethernity, said: "I am pleased to see the extensive growth in our Customer's business and their successful deployment based on our data processing SoC. We are also extremely satisfied with the successful support we have provided to this Customer over the past five years, which not only led to the initial successful deployment, but has now also led to the initiation of development toward a second-generation FWA base station node. The opportunity to continue working with the Customer demonstrates the value and importance of our collaboration with our customers. This is the second follow-on contract for Ethernity in a matter of weeks, cementing the industry's opinion that we are a trusted partner providing efficient, cost-effective, and reliable solutions for 5G and broadband."

About Ethernity Networks

Ethernity Networks (AIM: ENET.L) provides innovative, comprehensive networking and security solutions on programmable hardware for accelerating telco/cloud networks. Ethernity's semiconductor logic offers complete Carrier Ethernet Switch Router data plane processing and control software with a rich set of networking features, robust security, and a wide range of virtual function accelerations to optimize telecommunications networks. Ethernity's complete solutions quickly adapt to customers' changing needs, improving time-to-market, and facilitating the deployment of 5G, edge computing, and NFV.

For more information on Ethernity's products and solutions, please see The Company's website at www.ethernitynet.com.

For further information, please contact:

 
 Ethernity Networks Ltd                       Tel: +972 8 915 0392 
 David Levi, Chief Executive Officer 
 Mark Reichenberg, Chief Financial Officer 
 Allenby Capital Limited (Nominated Adviser   Tel: +44 (0)20 3328 
  and Joint Broker)                            5656 
 James Reeve / Piers Shimwell (Corporate 
  Finance) 
  Amrit Nahal (Sales and Corporate Broking) 
 Peterhouse Capital Limited (Joint Broker)    Tel: +44 (0)20 7562 
                                               0930 
 Lucy Williams / Duncan Vasey / Eran Zucker 
 Harbor Access Inc (US Investor Relations)    Tel: + 1 (475) 477 
  Jonathan Paterson                            9401 
 

MARKET ABUSE REGULATION

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse (amendment) (EU Exit) Regulations 2019/310 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

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END

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