SEALSQ Corp's stock soared as much as 12.90% in the pre-market session on Monday, following the company's announcement of a significant multi-year, multi-million dollar agreement to supply its VaultIC 408 secure microcontroller for millions of smart meters as part of the United Kingdom's Smart Metering Implementation Programme (SMIP).

The agreement positions SEALSQ as a key contributor to one of the world's most ambitious smart grid initiatives, which aims to install smart meters in over 26 million homes and businesses across the UK. SEALSQ's VaultIC 408 chip was selected for its state-of-the-art security features, ensuring robust data protection and secure communication across the entire metering infrastructure.

This collaboration includes leading energy and technology stakeholders such as the Data Communications Company (DCC), Landis+Gyr, Calisen, Toshiba, and Vodafone. SEALSQ's secure chips will complement advanced 4G communication hubs provided by Toshiba and secure data systems managed by CGI, enabling seamless integration and enhanced operational efficiency.