Global Container Asset Tracking Achieved for the First Time for Supply Chains
Lausanne, Switzerland, June 30, 2022 – Astrocast, one of the world’s leading operators of nanosatellite IoT networks, today announced a partnership with ArrowSpot. Astrocast integrates its Satellite IoT (SatIoT) technology into ArrowSpot’s ArrowTrack SAT device and ArroWatch application. This advanced hybrid communication tracking solution combines cellular and satellite communication network access. It allows ArrowSpot customers to gain complete visibility into their supply chains and fleets, enabling efficient asset management on a global scale.
ArrowSpot’s technology solutions typically enable supply chain managers to take a proactive and cost-effective approach to freight and fleet management. It has developed track and trace solutions that enable organizations to monitor moving assets anywhere and anytime throughout their journey. Customers who benefit from working with ArrowSpot include intermodal carrier services ZIM Shipping Line and Oceanex Inc.
24/7 supply chain monitoring solutions require global connectivity (SatIoT)
A resilient supply chain requires 24/7 monitoring. For many years, ArrowSpot searched for an effective IoT solution that would allow it to track moving assets around the world. With connectivity via terrestrial networks spanning 15% of the planet, ArrowSpot and Astrocast have joined forces to solve the problem of tracking assets in the remaining 85% of the world using satellite IoT.
Astrocast and ArrowSpot R&D teams have collaborated to integrate Astrocast technology into ArrowSpot’s new ArrowTrack SAT, the first device that combines cellular and satellite communication. This hybrid communication solution provides customers with global coverage, enabling efficient management of containers moving around the world.
ArrowTrackSAT, a hybrid asset tracking device for real-time monitoring
heavy usecase that demonstrates the value of this solution can be found in the pharmaceutical sector. Maintaining security and temperature control is essential to protect valuable shipments throughout the pharmaceutical supply chain. When handling this type of cargo, it is essential to react quickly to any unexpected event that may arise. For example, if a reefer loses power or the cargo appears to be in the wrong location, this issue should be reported and resolved quickly.
Quickly resolving this type of incident requires organizations to have the right kind of services and technologies in place to track and respond to such events. Ideally, this information should also be shared quickly with customers, so that appropriate management decisions can be made regarding any cargo in transit. The benefit of providing this kind of transparency throughout the supply chain is that it can drastically reduce any potential freight impact. Achieving this true visibility in all regions of the world was previously not possible without Satellite IoT.
Within supply chains, ArroWatch has become a proven key tool for shipping companies and cargo owners to reduce waste and improve supply chain resilience. Since its launch, ArroWatch has monitored over 30,000 trips. ArrowSpot’s 24/7 control center has tracked more than one million days of cargo during this period, worth more than $10 billion. About 6% of trips require action to protect freight – and as a result, the service has saved over $500 million in freight that would otherwise have been wasted. About half of this cargo, over $250 million, consisted of life-saving pharmaceuticals, with the food cargo accounting for over $150 million. The addition of Satellite IoT allows ArrowSpot to maintain a seamless service for its customers and allows everyone to get a better return on investment.
“The need for 24/7 asset tracking within global supply chains is vital today, especially in the cold chain. But so far, truly cost-effective global connectivity n was not available. In our search for a vendor, we tested several SatIoT solutions, and ultimately chose Astrocast for several reasons. From its two-way communication to its low power consumption, optimized data protocols, chipsets, as well as its ease of integration, working with Astrocast has transformed the speed of development – from prototype to reliable production device in less than 12 months.”
Ran Grinshtain, co-founder and CEO of ArrowSpot
Ran Grinshtain adds, “In addition, our organizations are both strongly customer-centric; our technical and product development teams worked well together and efficiently to integrate Satellite IoT into our solution; and culturally, our values and the way we work together are aligned.Working with Astrocast has therefore been an excellent experience. We are delighted to partner with such a professional organization capable of finding creative and intelligent solutions to complex technological problems. We look forward to jointly exploring additional SatIoT solutions and use cases for our customers.”
“Satellite IoT is delivering growing benefits to organizations around the world and across a variety of industries and use cases. We partnered with ArrowSpot because we share their ambition to address complex use cases and develop sophisticated Satellite-based solutions. IoT. We have been impressed with ArrowSpot’s experience in designing complex products that need to operate in harsh environments, as well as developing services specifically designed for the container industry.”
Fabien Jordan, CEO of Astrocast
Commenting on the partnership, Fabien Jordan said: “Our teams are eager to work together and develop unique value propositions for customers. All of this is made possible by our fully integrated and complementary technologies, and a strong culture of collaboration.Through this partnership, freight forwarders and cargo owners now have the ability to track assets in containers around the world for the first time. This provides true supply chain visibility that can help if and when a crisis occurs in places that were previously out of reach without satellite IoT technology. When an emergency strikes in the middle of the ocean, with the right asset tracking technology in place, one quick response can help organizations avoid a crisis. Which can cover its entire investment in Satellite IoT and save the cargo and its delivery.”
Astrocast SA operates a leading global IoT network of nanosatellites, providing services in sectors such as agriculture and farming, marine, environment and utilities, to name a few. The Astrocast network allows companies to monitor, track and communicate with remote assets from anywhere in the world. It leverages superior L-band spectrum through a strategic alliance with Thuraya. In partnership with Airbus, CEA/LETI and ESA, Astrocast has developed Astronode S, a miniaturized and ultra-low power module compatible with inexpensive L-band patch antennas. Founded in 2014 by a team of renowned experts, Astrocast develops and tests all of its products in-house, from satellites to modules. Astrocast is listed on Euronext Growth Oslo and recently announced the acquisition of Hiber. For more information visit www.astrocast.com
ArrowSpot provides players in the global supply chain logistics industry with online information about safe and secure sensitive refrigerated cargo and high value cargo. ArrowSpot operates a 24/7 control center to ensure that expensive goods are checked during long distance transport. Companies in the pharmaceutical, medical and food industries are increasingly relying on such online management systems. For more information, please visit https://www.arrowspot.com/
Vigil of Fatima
Astrocast S.A. published this content on June 30, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on Jun 30, 2022 10:52:06 AM UTC.
Public now 2022
Evolution of the income statement
|Number of analysts||1|
|Last closing price||CHF1.06|
|Average target price||CHF5.81|
|Average Spread / Target||447%|