Memorandum of Understanding Aims to Increase
the Scope of Cellular Connectivity in Brazil with Space-Based
Cellular Broadband
AST SpaceMobile, Inc. (NASDAQ: ASTS), the company building the
first and only space-based cellular broadband network accessible
directly by standard mobile phones, today announced the signing of
a non-binding memorandum of understanding (“MoU”) with TIM (BVFM:
TIMS3), one of Brazil’s leading mobile network operators, with the
aim of increasing the scope of cellular connectivity and bringing
space-based coverage to Brazil.
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AST SpaceMobile, Inc. announced the
memorandum of understanding signing with TIM. (Photo: Business
Wire)
AST SpaceMobile’s solution is being designed to get mobile
devices online where cell tower coverage does not exist and without
modifications to users’ cellular devices such as software,
hardware, or expensive add-ons like satellite dishes.
“Space-based cellular broadband is a part of our mission to
eliminate connectivity gaps and bring broadband to the billions who
remain unconnected,” said Chris Ivory, Chief Commercial Officer of
AST SpaceMobile. “We’re excited to be working with TIM towards
connecting the unconnected in Brazil’s vast and diverse
territory.”
The MoU would also support testing of AST SpaceMobile’s
space-based technologies by TIM for providing 4G data and voice
services in Brazil. TIM’s first technical tests and initial
evaluation of AST SpaceMobile’s planned solution are expected to
take place in Brazil's North and Northeastern regions, aiming for
the first half of 2023, subject to various factors, including
obtaining regulatory approval.
“TIM, the only operator to serve all municipalities in Brazil
with mobile coverage, reinforces its commitment to expand its
coverage area and improve the quality of communication so that
customers can enjoy data and voice services anywhere in the
country. The MoU with AST SpaceMobile complements important ongoing
initiatives to promote more digital inclusion, as it may help
position TIM to take 4G to isolated areas, districts, villages,
roads, resorts and tourist spots that are currently not served by
other operators,” said Marco Di Costanzo, Director of Network
Development at TIM Brazil.
About AST SpaceMobile
AST SpaceMobile is building the first and only global cellular
broadband network in space to operate directly with standard,
unmodified mobile devices based on our extensive IP and patent
portfolio. Our engineers and space scientists are on a mission to
eliminate the connectivity gaps faced by today’s five billion
mobile subscribers and finally bring broadband to the billions who
remain unconnected. For more information, follow AST SpaceMobile on
YouTube, Twitter, LinkedIn and Facebook. Watch this video for an
overview of the SpaceMobile mission.
About TIM
“Evolve together with courage, transforming technology into
freedom” is TIM's purpose. The operator has the largest mobile
coverage and 4G presence in Brazil and is leading the rollout of 5G
in the country, in line with its leading attitude and signature:
“Imagine the possibilities”. Committed to the best environmental,
social and governance practices, it is part of important portfolios
on the Brazilian stock exchange, such as the Novo Mercado,
S&P/B3 Brasil ESG and the Corporate Sustainability Index. It is
listed in the Sustainability Yearbook 2022, which brings together
the most sustainable companies in the world, and was the first
operator to obtain ISO 37001 certification for combating bribery.
It is also part of the Bloomberg Gender Equity Index and leads,
among companies in Brazil and in the global telecom sector, the
Refinitiv Diversity & Inclusion Index. For more information,
visit www.tim.com.br.
Forward-Looking Statements
This communication contains “forward-looking statements” that
are not historical facts, and involve risks and uncertainties that
could cause actual results of AST SpaceMobile to differ materially
from those expected and projected. These forward-looking statements
can be identified by the use of forward-looking terminology,
including the words “believes,” “estimates,” “anticipates,”
“expects,” “intends,” “plans,” “may,” “will,” “would,” “potential,”
“projects,” “predicts,” “continue,” or “should,” or, in each case,
their negative or other variations or comparable terminology.
These forward-looking statements involve significant risks and
uncertainties that could cause the actual results to differ
materially from the expected results. Most of these factors are
outside AST SpaceMobile’s control and are difficult to predict.
Factors that may cause such differences include, but are not
limited to: (i) expectations regarding AST SpaceMobile’s strategies
and future financial performance, including AST’s future business
plans or objectives, expected functionality of the SpaceMobile
Service, anticipated timing and level of deployment of satellites,
anticipated demand and acceptance of mobile satellite services,
prospective performance and commercial opportunities and
competitors, the timing of obtaining regulatory approvals, ability
to finance its research and development activities, commercial
partnership acquisition and retention, products and services,
pricing, marketing plans, operating expenses, market trends,
revenues, liquidity, cash flows and uses of cash, capital
expenditures, and AST’s ability to invest in growth initiatives;
(ii) the negotiation of definitive agreements with mobile network
operators relating to the SpaceMobile service that would supersede
preliminary agreements and memoranda of understanding; (iii) the
ability of AST SpaceMobile to grow and manage growth profitably and
retain its key employees and AST SpaceMobile’s responses to actions
of its competitors and its ability to effectively compete; (iv)
changes in applicable laws or regulations; (v) the possibility that
AST SpaceMobile may be adversely affected by other economic,
business, and/or competitive factors; (vi) the outcome of any legal
proceedings that may be instituted against AST SpaceMobile; and
(vii) other risks and uncertainties indicated in the Company’s
filings with the SEC, including those in the Risk Factors section
of AST SpaceMobile’s Form 10-K filed with the SEC on March 31,
2022.
The planned testing of the BlueWalker 3 (“BW3”) test satellite
may not be completed due to a variety of factors, which could
include loss of satellite connectivity, destruction of the
satellite, or other communication failures, and even if completed
as planned, the BW3 testing may indicate adjustments that are
needed or modifications that must be made, any of which could
result in additional costs, which could be material, and delays in
commercializing our service. The production and launch of our
BlueBird satellites may not be completed as currently contemplated
due to a variety of factors, which could include results of BW3
testing, challenges in completing our assembly and production
facility, launch difficulties, or supply chain shortages, any of
which could result in additional costs or delays, which could be
material. If there are delays or issues with our testing of BW3 or
production and launch of BlueBird satellites, it may become more
costly to raise capital, if we are able to do so at all.
AST SpaceMobile cautions that the foregoing list of factors is
not exclusive. AST SpaceMobile cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as
of the date made. For information identifying important factors
that could cause actual results to differ materially from those
anticipated in the forward-looking statements, please refer to the
Risk Factors incorporated by reference into AST SpaceMobile’s Form
10-K filed with the SEC on March 31, 2022. AST SpaceMobile’s
securities filings can be accessed on the EDGAR section of the
SEC’s website at www.sec.gov. Except as expressly required by
applicable securities law, AST SpaceMobile disclaims any intention
or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20230207005867/en/
Investors: Scott Wisniewski investors@ast-science.com
Media: Brandyn Bissinger press@ast-science.com +1 866 845
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