$200,000 product enhancement order

Ethernity Networks Ltd

13 August 2024

 

13 August 2024

ETHERNITY NETWORKS LTD

("Ethernity" or the "Company")

$200,000 Product Enhancement Order from leading US-based Broadband System Provider

Ethernity Networks (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances and fiber access controller for PON networks, is pleased to announce that it has received a new $200,000 product enhancement order from one of its existing customers, a leading US-based broadband system provider (the "Customer").

Highlights:

·      $200,000 product enhancement order for the Customer's Remote PON OLT hardened platform; and

·      the enhancements are based on existing ENET data processing technology, and will be integrated into the Customer's existing product during H2 2024.

This order represents a further development of the relationship with an existing leading US-based broadband system provider, following the successful rollout of the Customer's Remote 10G OLT product. The Customer initially engaged with Ethernity in 2018 and has since deployed thousands of Remote 10G PON OLTs embedded with the ENET data processor semiconductor technology. This new product enhancement order underscores the value the Customer sees in Ethernity's innovation and technology, and the unique functionality delivered by Ethernity over the years, allowing the Customer to offer value-added services for the broadband market.

The product enhancements are expected to help the Customer secure further orders for the Remote 10G PON OLT product, which would result in additional income for the Company in the coming years.

David Levi, CEO of Ethernity, said: "Over the last few months the Company has provided the Customer with intensive support and proved once again that we are a trustworthy partner. We are pleased to have received this new product enhancement order, which will help maintain the Customer's leading position in the Remote 10G OLT market, and win new business. This order confirms that our silicon-tuned data processing technology offers tremendous value to the market and provides significant differentiation for the Customer's product."

For further information, please contact:

Ethernity Networks Ltd	Tel: [phone]
David Levi, Chief Executive Officer Ayala Deutsch, Chief Financial Officer
Allenby Capital Limited (Nominated Adviser and Joint Broker)	Tel: [phone]
James Reeve / Piers Shimwell (Corporate Finance) Amrit Nahal / Stefano Aquilino (Sales and Corporate Broking)
CMC Markets UK plc (Joint Broker)	Tel: [phone]
Douglas Crippen
Peterhouse Capital Limited (Joint Broker)	Tel: [phone]
Lucy Williams / Duncan Vasey / Eran Zucker

About Ethernity (www.ethernitynet.com)

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 Broadband Networks.

 

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