NextPlat's Global Telesat Communications Unit Expands IoT Services Under New Agreement With Telit Cinterion

NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global consumer products and services company providing healthcare and technology solutions through e-commerce and retail channels worldwide, today announced that its Global Telesat Communications Ltd (GTC) subsidiary has expanded its Internet of Things (IoT) product portfolio through a new agreement with Telit Cinterion ("Telit Cinterion"), a global leader in intelligent IoT solutions trusted by enterprises worldwide for their secure, scalable, and Artificial Intelligence (AI)-driven products and services.

Telit Cinterion is a global leader in IoT worldwide. Its products and solutions are helping support Industry 4.0 from smart cities and manufacturing, to logistics, supply chains and payments with secure, intelligent IoT systems and it delivers connectivity solutions with an extensive coverage and access to multiple networks globally. GTC, one of Europe's largest satellite-enabled connectivity providers, serves enterprise, government, and consumer customers with voice, data, tracking, and IoT products and services in more than 150 countries. Through this agreement, GTC adds advanced 5G connectivity to its existing satellite and terrestrial connectivity suite, allowing it to expand sales within fast-growing industrial and enterprise IoT sectors including manufacturing, agriculture, transport and logistics, energy and utilities. According to Grand View Research, the global IoT market is currently valued at approximately USD 1.18 trillion and is projected to grow to about USD 2.65 trillion by 2030, representing a compound annual growth rate (CAGR) of about 11.4%.