Smaller packaging will decrease plastic, carbon emissions
ATLANTA (May 3, 2023) – KORE, the global pure-play Internet of Things (“IoT”) hyperscaler, and provider of IoT Connectivity, Solutions and Analytics, announced today its initiative to reduce waste and support sustainability by reducing the size of card bodies in its SIM shipments.
SIM cards power cellular connectivity in everything from smartphones to connected vehicles and are a vital part of consumer technology, as well as IoT. Since the first commercial launch of SIM cards three decades ago, approximately 4.5 billion SIM cards are sold and shipped each year industry-wide, accounting for more than 560,000 tons of carbon dioxide and 18,000+ tons of plastic waste annually.
“KORE consistently looks for ways to leverage IoT to help organizations with their sustainability and environmental goals,” said KORE President and CEO Romil Bahl. “We also evaluate our own processes and products to find ways to have a positive impact on global sustainability initiatives."
While the SIM card has reduced in size over the last three decades, the packaging – the card body – that holds the SIM has not. The KORE initiative reduces the card body by 50 percent and, relating to SIM cards, is expected to:
In addition to reducing the overall form factor of the SIM card, KORE is also a leading provider of eSIM with its OmniSIMTM, which takes environmental goals to a new level. Traditional SIM cards need to be swapped when network changes occur, whereas an eSIM can be provisioned remotely and used the entire device lifecycle. Eliminating the need to physically swap SIM cards reduces both plastic and the carbon emissions associated with manufacturing and shipping new SIM cards. Overall, KORE saves 24 tons of CO2 in its eSIM shipments.
KORE discussed its OmniSIM suite at Mobile World Congress Barcelona during the eSIM Summit in a keynote address by Bahl titled “eSIM: The Future of IoT Connectivity.” KORE also presented in a panel discussion “eSIM: Enabling the Age of Zero-Touch Provisioning.”
About KORE
KORE is a pioneer, leader, and trusted advisor delivering mission critical IoT solutions and services. We empower organizations of all sizes to improve operational and business results by simplifying the complexity of IoT. Our deep IoT knowledge and experience, global reach, purpose-built solutions, and deployment agility accelerate and materially impact our customers’ business outcomes. For more information, visit www.korewireless.com.
KORE Investors Contact
Charley Brady
Vice President, Investor Relations
investors@korewireless.com
KORE Media Contact
Carla Deisenroth
Vice President, Strategy & Marketing
cdeisenroth@korewireless.com
Forward-Looking Statements
The Company’s expectation regarding the timing of the filing of the 10-K and the expectation of the effect of misstatements in prior financial periods are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The actual timing of the filing and the effect of the misstatements may differ significantly from the Company’s expectation due to a number of risks and uncertainties, including the Company and its independent auditors’ inability to complete the work required to file the Annual Report in the anticipated time frame.
Cautionary Note on Forward-Looking Statements
This press release includes certain statements that are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” may,” “will,” “estimate,” “continue,” "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding KORE’s future product or service offerings, projections of market opportunity and conditions, and related expectations. These statements are based on various assumptions and on the current expectations of KORE’s management. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by any investor or other person as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of KORE. These forward-looking statements are subject to a number of risks and uncertainties, including general economic, financial, legal, political and business conditions and changes in domestic and foreign markets; the potential effects of COVID-19; risks related to the rollout of KORE's business and the timing of expected business milestones; risks relating to the integration of KORE’s acquired companies, changes in the assumptions underlying KORE's expectations regarding its future business; the effects of competition on KORE's future business; and the outcome of judicial proceedings to which KORE is, or may become a party. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that KORE presently does not know or that KORE currently believes are immaterial that could also cause actual results to differ materially from those contained in the forward-looking statements. In addition, forward-looking statements reflect KORE's expectations, plans or forecasts of future events and views as of the date of this press release. KORE anticipates that subsequent events and developments will cause these assessments to change. However, while KORE may elect to update these forward-looking statements at some point in the future, KORE specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing KORE's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.
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