Elsight Reaches Major Milestone with significant Halo order received from Kinetx Prime, Stock Rallies Above 63%

3 Aug 2020, Adding another notch to its belt, an Australian listed advanced connectivity technologies provider, Elsight Limited (ASX: ELS) has received the largest Halo order worth US$1.6 million from Kinetx Prime, LLC.

  • Elsight attained a significant milestone after receiving largest initial order worth US$1.6 million from Kinetx Prime, LLC for its flagship connectivity platform Halo, with planned repeat orders of similar and larger size order expected over the next three years.
  • ELS’s strategic partnership with Kinetx Prime would enable ELS to capitalise on the burgeoning need of telehealth services and remote learning in rural America during the COVID-19 pandemic. This is a new and significant market driven by the twin issues of the surge in the pandemic and very limited access to schools remote learning and healthcare services in underserved communities across the nation.
  • Kinetx Prime is believed to drive the growth of the Halo platform into the US markets via its mass distribution to the business-to-consumers (B2C) market in North America.
  • Furthermore, after an extensive regimen of trials and certification processes, the Company is proceeding with or has recommenced several proof-of-concept (POC) trials across several industry verticals, driving new deals with material revenues in 2020 and beyond.

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