Anterix, Nokia Announce Agreement to Offer Private LTE Over Low-band, Dedicated Spectrum
Anterix (NASDAQ: ATEX) and Nokia (NYSE: NOK) have formed a partnership aimed at advancing the deployment of 900 MHz private LTE networks in the U.S. utility sector. Utilizing Anterix's licensed 900 MHz spectrum and Nokia's private LTE infrastructure, this collaboration seeks to enhance communication for utilities transitioning to more modern grids. The joint solution will leverage technologies like Nokia's Digital Automation Cloud and Modular Private Wireless, ensuring high-performance connectivity crucial for the digitalization and automation of utility operations.
- Strategic partnership with Nokia to deploy private LTE networks enhances market positioning.
- Access to Nokia's advanced infrastructure supports utility companies in modernizing their grid communications.
- Possible commercial challenges in executing the agreement with Nokia.
- No solid operating history with the proposed business plan raises concerns about future performance.
WOODLAND PARK, N.J., May 27, 2021 /PRNewswire/ -- Anterix (NASDAQ: ATEX) and Nokia (NYSE: NOK) today announced an agreement designed to accelerate the deployment of 900 MHz private LTE across the U.S. utility sector. The companies will work together to combine Anterix's "beach-front" 900 MHz spectrum with Nokia's industrial-grade private LTE/4.9G wireless infrastructure so that utility companies can more easily deploy private LTE solutions that support advanced communications for modernizing their grids. Nokia is also a charter member of the recently announced Anterix Active Ecosystem Program that brings together technology innovators to support Anterix customers deploying and operating private LTE on 900 MHz.
As utilities incorporate new distributed renewable energy resources and storage into their grid, they are expected to require an advanced communications infrastructure to support that evolution. To process the vast amounts of data that come from monitoring and managing the multi-directional and intermittent flow of electricity, utilities will require a robust and technologically powerful communications platform that is private, secure, resilient and designed to meet their needs. By working together, Anterix and Nokia can provide utilities with a platform they can adopt to fulfill their objectives.
"Utilities who oversee critical infrastructure systems must insist on maintaining network control if they're going to manage the delivery of services effectively and efficiently," said Anterix Chief Operating Officer Ryan Gerbrandt. "Our low-band, licensed spectrum can provide utilities with the capabilities they need to build their own 900 MHz private LTE networks with Nokia's state-of-the-art infrastructure."
The joint solution will include the Nokia Digital Automation Cloud (DAC) platform and Nokia Modular Private Wireless (MPW) solution. The Nokia DAC is a compact application platform, comprising cellular network equipment and a cloud-based operation monitoring system offering reliable high-bandwidth, low-latency private wireless connectivity, local edge computing capabilities, and a catalog with applications such as voice and video services. Nokia MPW includes indoor and outdoor solutions that enable utilities to build private 4.9G/LTE networks for small to very large industrial sites and field area networks. Both DAC and MPW can easily be upgraded to 5G to offer even higher capacity and ultra-low latency.
"Private LTE is the locomotive that's going to help carry the electric utility industry into the 21st century," said Matt Young, head of Nokia's Enterprise business in North America. "This collaboration will allow Nokia and Anterix to further expand the benefits of purpose-built, private wireless networks to utilities nationwide. Together, we will help them obtain the high-performance, low-latency connectivity they need for digitalization and automation of their grid operations to improve efficiency and realize carbon emission goals, while transforming their business models."
The push towards private LTE networks follows years of headlines regarding concerns about cyberattacks on the grid and system outages caused by weather and other natural disasters. The effort to leverage modern technology to enhance grid communications platforms has been accelerated since the Federal Communications Commission's decision regarding 900 MHz last year and the grant of numerous experimental licenses. Nokia and Anterix already have worked together with utilities on a range of these pilot projects, including with the New York Power Authority as announced last Fall. This agreement expands the opportunity for the two companies to work together.
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 Nokia's Enterprise business
Nokia has deployed mission-critical networks to over 1550 leading customers in the transport, energy, large enterprise, manufacturing, webscale, and public sector segments around the globe. Leading enterprises across industries are leveraging our decades of experience building some of the biggest and most advanced critical IP, optical, wired and wireless networks on the planet. The Nokia Bell Labs Future X for industries architecture provides a framework for enterprises to accelerate their digitalization and automation journey to Industry 4.0. Nokia has pioneered the private wireless space, and is the worldwide leader with over 290 large enterprise customer deployments.
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 900 MHz private LTE 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 Nokia may not be commercially successful; (ii) the Company may not be successful in commercializing its spectrum assets to its targeted utility and critical infrastructure customers; and (iii) 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
Nokia:
Sarah Miller
Nokia Media Relations
613-720-9716
Sarah.miller@nokia.com
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SOURCE Anterix Inc.
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