Solid State plc announced a $5.1 million (£4.05 million) order for an IOT technology solution to a US customer from a new franchise line supplied by Solsta, its Components division. The contract combines hardware and software applications in a value-added industrial application, leveraging off the international capabilities of the Group by exporting its UK expertise into the US market. The customer solution, creates smart vending machines by enabling smart billing and intelligent inventory control and management through the combination of an industrial router and cloud based services.

The success of this contract demonstrates the Group strategy of broadening its complementary technology set and internationalizing the Group. Delivery of the contract is expected to commence in Second Quarter calendar 2024 and be completed by middle of calendar year 2025. Solsta is additionally expecting to work with the client to develop a Gen 2 5G router based successor to the current technology.