WOODLAND PARK, N.J., April 7, 2020
/PRNewswire/ -- Anterix (NASDAQ: ATEX) today announced that it
has signed a Letter of Intent (LOI) with Ameren for a long-term
lease of 900 MHz broadband spectrum to enable Ameren to deploy a
private LTE network that will provide critical communications
services for its service territories in Missouri and Illinois. Ameren has successfully piloted a
private LTE network in support of its Smart Energy Plan which
includes investments to strengthen the grid while providing clean
and reliable energy. The pilot demonstrated 14 different use cases
leveraging Anterix's spectrum under an FCC experimental
license.
Utilities provide essential services which are vital to the
quality of life for the customers and communities they serve. In
order to be prepared for resiliency in the face of disasters,
utilities are required to take proactive measures, often well in
advance, to respond to the expected and unexpected. By securing
access to Anterix's low-band 900 MHz spectrum, which would be
enabled through the FCC's proposed rulemaking, we believe Ameren
will be well positioned to execute on its long-term private LTE
network plans, strengthening its ability to provide affordable,
reliable and safe electricity for its customers in both good and
bad situations.
"Ameren has been leading the industry in evaluating and piloting
900 MHz broadband solutions, and its success with solving key use
cases has demonstrated real-world benefits that can enable Ameren
to modernize its electric grid for generations to come," said
Anterix President Rob Schwartz.
"Ameren's LOI represents a critical step in solving the unique
private broadband needs of utilities, paving the way for the
adoption of utility private LTE networks to enable secure, reliable
and resilient communication networks across the nation."
"To enable the grid of the future, the system requires a
smarter, stronger and more secure communications network with far
greater bandwidth," said Bhavani
Amirthalingam, senior vice president and chief digital
information officer for Ameren. "Ameren envisions a future where
broadband plays a key role in the control and management of our
network, providing enhanced communication with co-workers,
resulting in a better experience for our customers. Ameren intends
to use a private LTE network for a wide range of applications
slated to expand over time."
About Anterix
Anterix empowers the modernization of critical infrastructure
and enterprise businesses by enabling private broadband
connectivity. Our foundational spectrum, as further enhanced
through the FCC's proposed rulemaking, enables risk mitigation and
meets evolving business needs, with greater cyber security,
resiliency and control. Anterix is the largest holder of licensed
spectrum in the 900 MHz band, with nationwide coverage throughout
the contiguous United States,
Hawaii, Alaska and Puerto
Rico. Anterix is currently pursuing a regulatory proceeding
at the Federal Communications Commission that seeks to modernize
and realign the 900 MHz band by allowing it to be utilized for the
deployment of broadband networks, technologies and solutions. Our
chairman and our CEO co-founded Nextel Communications and have
significant experience in telecom operations and innovative
spectrum initiatives.
Forward-looking Statements
Any statements contained in this press release that do not
describe historical facts are forward-looking statements as defined
under the Federal securities laws. Any such forward-looking
statements, including statements regarding (i) the FCC's expected
issuance of a final report and order realigning the 900 MHz band
and (ii) Anterix's business strategies and opportunities, are based
on Anterix's current expectations and are subject to a number of
risks and uncertainties that could cause its actual future results
to differ materially from its current expectations or those implied
by the forward-looking statements. These risks and uncertainties
include, but are not limited to: (i) the FCC may not issue a final
Report and Order on a timely basis, or at all; (ii) the terms of
any final Report and Order may not be favorable or may
significantly delay or increase the costs required for Anterix to
commercialize its spectrum assets compared to the timing and costs
assumed in its business plan; and (iii) even if its FCC initiatives
are successful, Anterix may not be successful in commercializing
its spectrum assets to its targeted customers and markets. These
and other factors that may affect Anterix's future results of
operations are identified and described in more detail in its
filings with the Securities and Exchange Commission (the "SEC"),
including its Quarterly Report on Form 10-Q for the fiscal quarter
ended December 31, 2019, filed with the SEC on February
4, 2020. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Except as required by applicable law, Anterix does
not intend to update any of the forward-looking statements to
conform these statements to actual results, later events or
circumstances or to reflect the occurrence of unanticipated
events.
Contacts
Natasha
Vecchiarelli
Director of Investor Relations & Corporate Communications
Anterix
973-531-4397
nvecchiarelli@anterix.com
Aaron Edelstein
RH Strategic Communications
202-379-0547
aedelstein@rhstrategic.com
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SOURCE Anterix