SEALSQ Corp (NASDAQ: LAES) is experiencing a notable rise in its stock price today following the announcement of a significant multi-year agreement to supply its VaultIC 408 secure microcontroller for millions of smart meters in the United Kingdom. This agreement is part of the UK's Smart Metering Implementation Programme (SMIP), which aims to install smart meters in over 26 million homes and businesses. The collaboration involves major stakeholders such as the Data Communications Company, Landis+Gyr, Calisen, Toshiba, and Vodafone, highlighting SEALSQ's strategic partnerships and its role in enhancing energy efficiency and security within the smart grid infrastructure.
The selection of SEALSQ's VaultIC 408, known for its advanced security features, underscores the company's commitment to robust data protection and secure communication in the energy sector. This development positions SEALSQ as a key contributor to one of the world's most ambitious smart grid initiatives, potentially leading to increased revenue and market share as the global smart meter market continues to expand.
SEALSQ Corp's stock is currently trading at $8.98, reflecting a 10.32% increase from its previous close of $8.14.