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Wyld Networks receives SEK 6.1 million payment from UK Government for Satellite IoT development

Wyld Networks has received a cash payment of approximately SEK 6.1 million from UK Government for R&D activities in 2023.

The UK government recognizes the importance of development in satellite IoT solutions to bridge the information gap currently challenging many businesses globally. Wyld’s disruptively low-cost and low-power global connectivity allows companies to increase profitability, reduce costs and meet sustainability goals.

From sensor manufacturers to systems integrators and solution providers, our partners are delivering solutions for the real-world using Wyld Connect and the Wyld Fusion platform to shape the future of IoT.

“This award demonstrates the UK governments commitment for rewarding innovative companies,” said CFO of Wyld Networks, Christopher J. Caswell FCA. “The market for satellite IoT solutions focusing on solving the lack of remote connectivity continues to grow significantly and Wyld Networks technology is leading the way in meeting this increasing demand.”

For further information, please contact:

Alastair Williamson, CEO Wyld Networks
E-mail: alastair.williamson@wyldnetworks.com 
Tel: +44 7 824 997 689

About Wyld Networks AB

Wyld Networks develop and sell innovative wireless technology solutions that enable 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