Oxit and Semtech to Innovate Toward Intelligent Energy Initiatives

Rhea-AI Summary

Semtech Corporation (Nasdaq: SMTC) has announced a collaboration with Oxit to further intelligent energy initiatives through IoT services. Semtech will leverage its low power wide area network (LPWAN) solutions to support Oxit's smart utilities initiatives. Oxit CEO Josh Cox is set to discuss this partnership during the ENTELEC Conference & Expo on August 10 in Houston, TX. The LPWAN market is projected to exceed $80 billion by 2027, highlighting the growth potential for Semtech's IoT solutions in the energy sector.

Positive

• Collaboration with Oxit enhances Semtech's LPWAN solutions for smart utilities.
• LPWAN market expected to surpass $80 billion by 2027, indicating significant growth potential.

Negative

• None.

Semtech Corporation (Nasdaq: SMTC), a leading supplier of high performance analog and mixed-signal semiconductors and advanced algorithms, announced its collaboration with Oxit, a leading company focusing on true innovation in Internet of Things (IoT) services through the creation of solutions for a series of intelligent energy initiatives. Semtech will support the initiatives with its low power wide area network (LPWAN) solutions which complements Oxit’s team of smart utilities experts. Oxit CEO, Josh Cox will discuss the collaboration at ENTELEC Conference & Expo 2021 in his presentation, “Intelligent Energy: Control and Condition Monitoring for Complete CGSS,” on August 10 in Houston, TX at the George R. Brown Convention Center.

In collaboration with Semtech, Oxit’s smart utilities team is the catalyst and facilitator for intelligent energy initiatives. (Photo: Business Wire)

The annual ENTELEC Conference & Expo brings together industry professionals, exhibitors and vendors to continue sharing knowledge and educating each other about the latest developments in energy, telecommunications, and oil & gas. There, Oxit will present on how smart utilities will be transformed through IoT in a special presentation. “Presenting at ENTELEC 2021 provides an ideal platform to continue to showcase how the utilities and IoT work hand-in-hand,” said Ashley Pope, Oxit director of operations. “We invite all those interested in the smart control and monitoring of gas utilities to view our showcase at the annual event and see how Semtech’s LoRa® devices enhance the future of gas safety systems based on LPWAN.”

The global market valuation for LPWAN is forecasted to exceed $80 billion by 2027, according to a Global Market Insights, Inc. report. With the widespread proliferation and demand for IoT devices, Semtech brings its LPWAN and IoT market to Oxit’s new initiatives. “Our collaboration with Oxit for new smart utilities initiatives continues to highlight the ongoing growth and value of LPWAN connectivity,” said Marc Pégulu, vice president, IoT product marketing and strategy in Semtech’s Wireless and Sensing Products Group. “The ability to collect data quickly and without interruption will usher in a new era of smart gas utilities to continue to provide services safely.”

To learn more about how Oxit and Semtech are leading intelligent energy initiatives at ENTELEC Conference & Expo, please visit here.

About Semtech’s LoRa® Platform

Semtech’s LoRa device-to-Cloud platform is a globally adopted long range, low power solution for IoT applications, enabling the rapid development and deployment of ultra-low power, cost efficient and long range IoT networks, gateways, sensors, module products, and IoT services worldwide. Semtech’s LoRa devices provide the communication layer for the LoRaWAN® standard, which is maintained by the LoRa Alliance®, an open IoT alliance for Low Power Wide Area Network (LPWAN) applications that has been used to deploy IoT networks in over 100 countries. Semtech is a founding member of the LoRa Alliance. To learn more about how LoRa enables IoT, visit Semtech’s LoRa site.

About Semtech

Semtech Corporation is a leading supplier of high performance analog and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The Company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the Nasdaq Global Select Market under the symbol SMTC. For more information, visit www.semtech.com.

About Oxit

Since its launch in 2014 as a Charlotte, NC based company, Oxit has continually focused on expert IoT services through the creation of solutions and products for an adaptive global business marketplace. Now internationally represented, Oxit's goal remains the same: to serve clients with their end customer's experience and satisfaction in mind, and to assist clients in building revenue and commercial growth by expanding the possibilities, services, and experiences across the market. Find out how Oxit's 10+ years of IoT experience, 100+ product launching expertise, and 1,000,000+ connected devices deployment knowledge can be leveraged for YOUR product at www.oxit.com.

Forward-Looking and Cautionary Statements

All statements contained herein that are not statements of historical fact, including statements that use the words “will,” “ideal” “designed to” or other similar words or expressions, that describe Semtech Corporation’s or its management’s future plans, objectives or goals are “forward-looking statements” and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Semtech Corporation to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Such factors are further addressed in Semtech Corporation’s annual and quarterly reports, and in other documents or reports, filed with the Securities and Exchange Commission (www.sec.gov) including, without limitation, information under the captions “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors.” Semtech Corporation assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.

Semtech, the Semtech logo and LoRa are registered trademarks or service marks of Semtech Corporation or its affiliates.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20210805005062/en/

FAQ

What is the significance of Semtech's collaboration with Oxit?

Semtech's collaboration with Oxit aims to enhance intelligent energy initiatives through the integration of Semtech's LPWAN solutions.

When will Oxit present on its collaboration with Semtech?

Oxit will present the collaboration at the ENTELEC Conference & Expo on August 10 in Houston, TX.

What is the expected market value for LPWAN by 2027?

The LPWAN market is projected to exceed $80 billion by 2027, according to Global Market Insights, Inc.

How does Semtech's technology support the IoT services provided by Oxit?

Semtech provides low power wide area network (LPWAN) solutions that complement Oxit's IoT services focused on smart utilities.

What role will Semtech play in Oxit's intelligent energy initiatives?

Semtech will provide its LPWAN solutions to support Oxit's initiatives for smart utilities, enhancing their operational efficiency.