NORBIT: Secures NOK 35 Million Order from Top Customer

Trondheim, December 21, 2021: NORBIT announces today that NORBIT ITS has received an order from an existing undisclosed European customer for the delivery of application modules to satellite toll systems. The order is worth over NOK 35 million and is expected to be delivered within the next 15 months from NORBIT’s fully automated production line in Røros.

Application Modules are one of a number of products based on the company’s dedicated Short Range Communication Technology (DSRC) which is provided by ITS, a sub-segment of NORBIT Connectivity.

“We are delighted to receive an additional order from a long-time customer. This proves the attractiveness of NORBIT tailor-made application modules customized for integration into on-board satellite toll units ”, said Per Jørgen Weisethaunet, CEO of NORBIT.

For further questions, please contact:
Per Jørgen Weisethaunet, CEO, +47 959 62 915
By Kristian Reppe, CFO, +47 900 33 203

About NORBIT

NORBIT is a global provider of technologies tailored to selected niches, solving challenges with innovative solutions, in line with its mission to explore further. The company is structured into three business sectors to address its key markets; Oceans, connectivity and innovation and product realization (PIR). The Oceans segment provides tailor-made technological solutions to the global maritime markets. The Connectivity segment encompasses NORBIT’s technology in low-power wireless solutions related to both electronic vehicle identification for toll collection and tachograph application, as well as a new vertical segment comprising the software solutions provider recently acquired Hungarian iData, as well as NORBIT’s initiatives within bespoke IoT in a selected niche. applications. The PIR segment offers R&D services, proprietary products and contract manufacturing to key customers.

NORBIT is headquartered in Trondheim and manufactures in Norway, has around 400 employees and a global sales and distribution platform.

For more information: www.norbit.com

The information is such that NORBIT is obliged to disclose it in accordance with the EU Market Abuse Regulation and is subject to the disclosure requirements in accordance with Section 5-12 of the Norwegian Securities Law.

The information was submitted for publication by Elise Heidenreich, Investor Relations at NORBIT ASA, on December 21, 2021 at 07:30 am CET.


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