Elsight Receives largest Halo order worth US$1.6 million from Kinetx Prime, Stock Surged Over 90%

  • Jul 30, 2020 AEST
  • Team Kalkine

Elsight Limited (ASX: ELS), a provider of pioneering hybrid video and data transport services, has announced a strategic partnership with Kinetx Prime, LLC resulting in the first mass distribution of ELS’ flagship product, Halo, to the business- to -consumers (B-to-C) market in North America.

ELS has received an initial purchase order worth US$1.6 million (AU$2.3 million) with expected repeat orders up to the size of the same value, over the next 36 months.

This deal is believed to be the first material deal resulting in substantial revenues from the immense efforts of adaptation and development of issues learned during POCs and entering into the mandatory certification process for the US market.

On 30 July 2020, the stock was trading at $0.570 at AEST (12:13 PM), up by 90% from the previous close.



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