New York Power Authority Launches 900 MHz Private LTE Pilot
Anterix (NASDAQ: ATEX) has announced a partnership with the New York Power Authority (NYPA) to pilot a private LTE network at its Blenheim-Gilboa hydroelectric plant. This initiative is part of NYPA's Vision 2020 plan to become the first all-digital utility in the U.S. The private LTE system will utilize Anterix's 900 MHz spectrum, enhancing connectivity for operations such as remote repair crews and drone inspections. The project represents a significant step towards modernizing utility infrastructure and supporting emerging technologies.
- Anterix's partnership with NYPA marks a significant step in utility modernization.
- The pilot project enhances operational efficiency by providing reliable connectivity for repair crews and utilizing drones for asset inspection.
- The agreement supports Anterix's strategic focus on delivering private broadband solutions in critical infrastructure sectors.
- The initiative's success is contingent on NYPA's final decision to deploy the private LTE system, introducing uncertainty.
- Dependency on regulatory approval for spectrum usage poses potential risks to implementation timelines.
WOODLAND PARK, N.J., Oct. 22, 2020 /PRNewswire/ -- Anterix (NASDAQ: ATEX) today announced its involvement in the New York Power Authority's (NYPA) new project to pilot a private LTE network at its Blenheim-Gilboa hydroelectric plant in Gilboa, N.Y, Schoharie County. As a key part of NYPA's Vision 2020 plan to become the nation's first all-digital utility and leverage connectivity, NYPA will pilot a private LTE system based on 900 MHz broadband spectrum provided by Anterix. The private LTE system will focus on a variety of use cases, including connectivity for NYPA's repair crews, designated "Digital Utility Workers" and support for emerging technologies such as using drones to safely monitor and inspect NYPA generation and transmission assets.
"Through this innovative initiative, NYPA is demonstrating continued leadership in its effort to become the 'first end-to-end digital utility' in the country," said Anterix President and CEO Rob Schwartz. "A resilient and scalable private broadband network enables a utility to transport its essential data reliably and securely. Private LTE, as a global standard, allows the forward compatibility to address the wide range of current and future use cases that NYPA and utilities throughout the country will face as they modernize their networks."
"Creating a resilient and redundant private communications system is key to our nation-leading digital strategy," said Gil C. Quiniones, President and CEO of NYPA. "With the help of the Anterix team, and the support and collaboration of more than a dozen utilities across the nation with whom we have compared notes on LTE deployment, we are excited to pilot a range of use cases at 900 MHz. We believe that collective action by the utility sector embracing private LTE will lead to a broader range of benefits both for utilities and our customers."
Anterix will provide NYPA the necessary consent for the use of its spectrum holdings in the 900 MHz Band Class 8 pursuant to a broadband experimental license filed before the Federal Communications Commission. This is the second FCC Experimental License that NYPA has pursued involving Anterix 900 MHz spectrum as NYPA continues to expand the potential use cases to be supported on its private LTE system.
About Anterix
At Anterix (NASDAQ: ATEX), we are focused on delivering transformative private 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 solutions that support secure, resilient and customer-controlled operations.
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 NYPA making a final decision to deploy a private LTE system utilizing Anterix's spectrum to support its objective of becoming the first end-to-end digital utility, 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 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 quarter ended June 30, 2020, filed with the SEC on August 6, 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
Anterix
Natasha Vecchiarelli
Director of Investor Relations & Corporate Communications
973-531-4397
Hill+Knowlton Strategies
James Fuller
Executive Vice President
240-393-1369
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SOURCE Anterix Inc.
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