Ethernity Networks (ENET ) said it has now received a total of $2m in customer orders from Tarana Wireless ("Tarana") to supply the Company's ENET FPGA SoC (system-on-a-chip).
The Group is a supplier of data processing offload solutions on programmable FPGA (field programmable gate array) hardware with the aim of accelerating the telco/cloud network.
Ethernity started receiving orders for its ENET Flow Processor FPGA systems-on-chip from Tarana, which is an American wireless broadband solution manufacturer, back in April 2021.
The production orders follow a previous contract signed between Tarana and Ethernity in 2017. Since then, Ethernity has worked closely with Tarana to support its development efforts toward bringing their innovative fixed wireless access product to mass adoption.
The orders include $0.74m for delivery in 2021, a rise of 50% over the customer’s previous expectations. The remaining $1.26m in orders are for 2022, based on Tarana's current 2022 sales commitments, and the amount could increase as demand for its G1 fixed wireless product continues to grow. Ethernity added that further orders are expected for 2023.
Ethernity has provided Tarana with its ENET 4820z FPGA SoC with silicon-tuned software, which it said fits into low-cost FPGAs that are capable of meeting prices of mass production.
Working in concert with Tarana's radio technology in its tower-installed base nodes, the company explained that its ENET Flow Processor will provide ‘advanced networking functions, traffic control, and management for up to 512 homes per ENET SoC.’
Shares in Ethernity Networks have increased by nearly 30% in value since the beginning of 2021. The stock was trading 9.78% higher this morning at 50.5p following the update.
Ethernity’s Chief Executive David Levi said the rate of deployment has exceeded original expectations as evidenced by the accelerated orders it has received for this year and next.
He added, “It has been especially encouraging to see Tarana's customers releasing their services based on this product, and we are extremely pleased to have contributed to the technology behind it. As we continue to work with Tarana on future generations, we are confident that this can be a mutually rewarding partnership for many years to come."
Ethernity also highlighted that it has now successfully addressed the challenge of the worldwide component shortage affecting global industry-wide customer deliverables.
Earlier this month, the group told investors that there was a temporary shortage affecting customer deliverables that was not exclusive to the company. At the time, Ethernity said it was overcoming the shortage through purchasing from parallel sources, which it explained it would do until supply levels recover from the original manufactures of the components.
Today, the company said it has secured adequate supplies from US-based semiconductor manufacturing company, Xilinx, of the required components for the remainder of the year.
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