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Ethernity Networks Ltd announced on March 28, 2025, an extension to its contract with a Tier 1 U.S.-based aerospace system products provider. This extension adds $290,000 to the original $1.05 million contract, bringing the total value to $1.34 million for additional functionalities anticipated over the next three months.
| Date | 28 Mar 2025 |
| Time | 07:00:02 |
| Category | Corporate updates |
| ID | 5684C |
28 March 2025
ETHERNITY NETWORKS LTD
("Ethernity" or the "Company")
U.S. Aerospace Project Extension
Ethernity Networks (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, announces an extension to its $1.05 million contract signed with a Tier 1 U.S.-based aerospace system products provider (the "Customer"), details of which were first announced on 28 June 2024.
On 13 March 2025, the Company announced that it anticipated an extension to the project and we are now pleased to confirm that the licensing deal with the Customer has been extended by an additional $290,000, bringing the total contract value to $1.34 million. The additional work will be dedicated to the development of additional functionalities beyond the original scope of the project, with implementation anticipated over the next three months.
The Company anticipates further revenue from the Customer during H2 2025.
For further information, please contact:
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Ethernity Networks Ltd |
Tel: +972 3 748 9846 |
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David Levi, Chief Executive Officer Tomer Asis, Chief Financial Officer |
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Allenby Capital Limited (Nominated Adviser and Joint Broker) |
Tel: +44 (0)20 3328 5656 |
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James Reeve / Piers Shimwell (Corporate Finance) Amrit Nahal / Stefano Aquilino (Sales and Corporate Broking) |
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CMC Markets UK plc (Joint Broker) |
Tel: +44 (0)20 3003 8632 |
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Douglas Crippen |
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Peterhouse Capital Limited (Joint Broker) |
Tel: +44 (0)20 7562 0930 |
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Lucy Williams / Duncan Vasey / Eran Zucker |
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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.