Anterix, Motorola Solutions Announce Private LTE Technology Agreement
Anterix (NASDAQ: ATEX) and Motorola Solutions (NYSE: MSI) have entered into an agreement to enhance private LTE networks for utility companies, aiming to modernize the electric grid. This collaboration builds on Motorola's existing Private Broadband for Critical Infrastructure platform and the FCC's transition of the 900 MHz band to broadband. Anterix's licensed spectrum will enable utilities to deploy advanced LTE networks, providing better service to customers. They are also assisting Xcel Energy in evaluating a private LTE solution for improved grid management.
- Partnership with Motorola Solutions for private LTE network deployment.
- Use of licensed spectrum to enhance utility communications.
- Support for Xcel Energy's grid modernization efforts.
- Risks of commercial success with the agreement.
- Uncertainty in obtaining necessary broadband licenses.
- Lack of operating history may hinder future evaluations.
WOODLAND PARK, N.J. and CHICAGO, May 27, 2021 /PRNewswire/ -- Anterix (NASDAQ: ATEX) and Motorola Solutions (NYSE: MSI) announced today that they have entered into an agreement to facilitate the deployment of private LTE networks by utility companies as part of the sector's efforts to modernize the electric grid. The collaboration follows last year's announcement of Motorola Solutions' Private Broadband for Critical Infrastructure platform, and the FCC's Report & Order enabling the transitioning of the 900 MHz band to broadband. Motorola Solutions is also a charter member of the recently established Anterix Active Ecosystem Program that brings together technology innovators to support Anterix customers deploying and operating private LTE on 900 MHz.
"Our low-band, licensed spectrum can provide utility companies with the ability to deploy a private LTE network platform that can deliver the advanced capabilities needed as well as the control necessary as they evolve to a more advanced grid," said Anterix Chief Operating Officer Ryan Gerbrandt. "By working with Motorola Solutions to reduce the complexity and cost of deploying this private wireless broadband platform, Anterix is giving control back to the utility companies so that they can better serve their customers and communities."
Motorola Solutions' 900 MHz LTE broadband infrastructure includes the LXN 7900 radio access network and core to provide critical wide area coverage and long-range data communications. The system's core can be hosted on-premise or in the cloud, and it can simultaneously control the company's 900 MHz LTE network and its Nitro™ CBRS LTE network. The company's high-power EDG 4200 Smart Gateway enables the seamless exchange of intelligence across broadband networks, and its cloud-based interoperability platform, Critical Connect, allows for interoperability with land mobile radio (LMR) networks, as well as carrier independent and integrated LTE networks.
"Today's utilities need secure, high-power and interoperable communications to address their end-to-end needs across voice, data and video," said Scott Schoepel, Vice President, Global Enterprise, Motorola Solutions. "We are excited to leverage our long history in the delivery of mission-critical private networks and recent collaboration with Anterix to support robust innovation and continued grid modernization."
In January, Anterix and Motorola Solutions announced they would be assisting Xcel Energy in the evaluation of a private LTE solution to deliver greater grid intelligence, control and security. The network is being developed by Motorola Solutions using Anterix's 900 MHz spectrum and will be installed at two Xcel Energy sites in Minneapolis.
About Anterix
At Anterix, we are focused on delivering transformative broadband that enables the modernization of critical infrastructure for the energy, transportation, logistics and other sectors of our economy. As the largest holder of licensed spectrum in the 900 MHz band, with nationwide coverage throughout the contiguous United States, Hawaii, Alaska and Puerto Rico, we are uniquely positioned to enable the private LTE broadband solutions that support secure, resilient and customer-controlled operations.
About Motorola Solutions
Motorola Solutions is a global leader in mission-critical communications and analytics. Our technologies in land mobile radio mission-critical communications, video security & analytics and command center software, bolstered by managed & support services, make communities safer and help businesses stay productive and secure. At Motorola Solutions, we are ushering in a new era in public safety and security. Learn more at www.motorolasolutions.com.
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. These forward-looking statements include statements regarding the benefits to utilities, and the demand by utilities, to deploy private 900 MHz LTE broadband networks. Any such forward-looking statements are based on the Company'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, including: (i) the Company's agreement with Motorola Solutions may not be commercially successful; (ii) the Company may not be successful in qualifying for and obtaining broadband licenses on a timely basis, or at all; (iii) the Company may not be successful in commercializing its spectrum assets to its targeted utility and critical infrastructure customers; and (iv) the Company has no operating history with its proposed business plan, which makes it difficult to evaluate its prospects and future financial results. These risks and uncertainties and other factors that may affect the Company'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, 2020, filed with the SEC on February 8, 2021. 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, the Company 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:
Anterix:
Natasha Vecchiarelli
Director, Investor Relations & Corporate Communications
Anterix
973-531-4397
nvecchiarelli@anterix.com
James Fuller
Executive Vice President
Hill+Knowlton Strategies
240-393-1369
James.Fuller@hkstrategies.com
Motorola Solutions:
Amy Day
Senior Manager, North America Communications
Motorola Solutions
604-785-5637
amy.day@motorolasolutions.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/anterix-motorola-solutions-announce-private-lte-technology-agreement-301300607.html
SOURCE Anterix Inc.
FAQ
What is the recent agreement between Anterix and Motorola Solutions about?
How will the collaboration benefit utility companies?
What challenges does Anterix face with their new partnership?
How does the 900 MHz band relate to this agreement?
What project is Xcel Energy involved in with Anterix?
