HTG harvest technology group ltd

HARVEST WINS TWO-YEAR CONTRACT WITH EUROPEAN...

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    HARVEST WINS TWO-YEAR CONTRACT WITH EUROPEAN DEFENCE
    FORCE

    Highlights:

    • Harvest secures first contract to supply technology to an EU Defence force
    • The contract will see field deployment of the latest Nodestream Rugged (NSR) devices
    • Initial contract value is approximately $60k USD

    September 7, 2022: Harvest Technology Group Limited (ASX:HTG) (Company, Harvest, Group) is pleased
    to announce it has won its first contract with a defence force of the European Union (EU). The contract is for
    the supply of Harvest's ultra-low-bandwidth, high-quality secure Nodestream™ technology to play a key role
    in supporting the defence force’s remote operations.
    The deployment of Harvest’s technology into this sector reinforces the credibility of the Nodestream™
    technology to other potential customers who need reliable, secure connectivity in remote locations.
    The supply of the technology is under Harvest’s standard terms with the initial contract value (of approximately
    $60k USD) expected to be receipted in October 2022.
    Material Terms of Contract

    • HTG considers this contract to be material to the extent that it represents the first order from a
    potentially significant EU defence customer, and a new relationship with the opportunity to expand on
    this initial contract in the future. Notwithstanding that HTG sees this relationship as a material
    opportunity, investors should note that it may not result in additional orders beyond this initial order.
    • There are no further conditions that need to be satisfied prior to this contract becoming legally binding
    on the counterparty.

 
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