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LONDON - Solid State plc (AIM:SOLI), a provider of specialized computing, power, and communications products, has secured a $5.2 million follow-on order for its IOT technology product from a US franchise line. The contract, which serves as a repeat business testament, follows an initial supply agreement in May 2024.
The order will be fulfilled by the Group’s Components division, Solsta, and involves the provision of technology to create intelligent vending machines. These machines will feature smart billing and inventory management capabilities, facilitated by an industrial router and cloud-based services. This technology integrates both hardware and software applications for industrial use.
Solid State’s international outreach is emphasized through this agreement, showcasing the export of UK expertise into the US market. The delivery schedule for the contract is set to begin in the second quarter of FY25/26 and is expected to continue through the third quarter of FY26/27.
Jon Baxter (NYSE:BAX), Executive Director Sales & Operations EMEA at Solsta, commented on the award, stating, "This follow-on contract highlights the benefits of our combined specialist hardware and software capabilities alongside our international footprint and is an excellent illustration of what Solsta does so well."
He further expressed that the contract serves as a strong validation of Solid State’s offerings and that the company looks forward to further strengthening the relationship with their US customer.
Solid State also offers site visits to its head office in Redditch for interested investors, providing insight into the operations of both the Systems and Components divisions. The information for this article is based on a press release statement from Solid State plc.
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