NREL Successfully Completes Phases I And II Of High-Impact Status Project With Anterix

Rhea-AI Summary

Anterix (NASDAQ: ATEX) announced the successful completion of Phases I and II of a high-impact project with the U.S. Department of Energy's NREL. The project validated the performance of Anterix's 900 MHz private LTE network for critical grid communications. NREL's tests demonstrated the effectiveness of wireless communications in utility applications aimed at grid modernization and decarbonization goals. The project involved collaboration with an Industry Advisory Board of six utilities across 18 states, focusing on real-world utility use cases.

Positive

• Successful validation of Anterix's 900 MHz private LTE network for critical grid communications.
• Collaboration with six leading utilities, enhancing credibility and potential market applications.
• Demonstration of wireless LTE communications meeting real-world utility use cases.

Negative

• Dependence on successful commercialization of spectrum assets remains uncertain.
• Risks associated with securing broadband licenses from the FCC in a timely manner.
• Potential fluctuations in spectrum asset value due to market conditions.

WOODLAND PARK, N.J., Nov. 11, 2021 /PRNewswire/ -- Anterix (NASDAQ: ATEX) today announced that the U.S. Department of Energy's (DOE's) National Renewable Energy Laboratory (NREL) has successfully completed Phases I and II of its "high impact" project validating the performance of an Anterix 900 MHz private LTE network for critical grid communications. 

"In this work, using 900 MHz spectrum, NREL has successfully demonstrated the effectiveness of private wireless LTE communications for grid applications," said Barry Mather, Group Manager for Integrated Devices and Systems in NREL'S Power Systems Engineering Center. "We have also provided a means for utilities to further evaluate the performance of wireless communications in grid applications as utilities look to modernize their grids to meet decarbonization goals."

Both phases of the project tested the performance of private LTE over 900 MHz spectrum. In Phase I, NREL tested a single use case (direct transfer trip of a solar invertor) in seven different wireless scenarios; the Phase II work was an extension of the NREL ADMS (Advanced Distribution Management System) Test Bed program and focused on a peak load management use case involving a dynamic voltage regulation (DVR) application and, in three of the six scenarios, a distributed energy resource management system (DERMS). 

"As utilities are increasingly attracted to the cost, scalability, and flexibility benefits of wireless broadband communications to support grid modernization efforts, NREL has performed a valuable service by demonstrating that 900 MHz private networks built on LTE—a state-of-the-art worldwide standard—can meet real-world utility use cases for distribution grid protection," said Carlos L'Abbate, Anterix's Chief Technology Officer. "It has been an honor and a pleasure to work with the great team at NREL since this project started three years ago, and we look forward to continuing that relationship and helping NREL pave the way to a cleaner, more resilient grid."

The project has benefited from advice and insight provided by its Industry Advisory Board (IAB) comprised of six leading utilities that provide service across 18 states, as well as former DOE Chief Technology Officer, Pete Tseronis. The six utility members of the IAB include: Consumers Energy, Duke Energy, Evergy, Eversource Energy, Holy Cross Energy and Xcel Energy. IAB members have shared guidance on use case selection, helped define test scenarios that reflect the respective member's operational environment, and participated in planned laboratory demonstrations of the combined LTE network and ADMS Testbed system. 

The report providing results for both phases of the study is available at https://www.nrel.gov/docs/fy21osti/80474.pdf.

About Anterix

At Anterix, 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 (896-901/935-940 MHz) throughout the contiguous United States, plus Hawaii, Alaska, and Puerto Rico, we are uniquely positioned to enable the private LTE solutions that support secure, resilient and customer-controlled operations. www.anterix.com  

Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts constitute forward-looking statements as defined under the Federal securities laws. These forward-looking statements include statements regarding the potential use cases and benefits to utilities of deploying 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.  These risks and uncertainties include, but are not limited to: (i) the Company may not be successful in commercializing its spectrum assets to its targeted utility and critical infrastructure customers, on a timely basis and on favorable terms; (ii) the Company may be unable to secure broadband licenses from the FCC on a timely and cost-effective basis; and (iii) the value of the Company's spectrum assets may fluctuate significantly based on supply and demand, as well as technical and regulatory changes. These and other risk factors that may affect the Company's future results of operations are identified and described in more detail in its filings with the SEC, including its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2021, filed with the SEC on November 3, 2021. Accordingly, you should not rely upon forward-looking statements as predictions of future events or results. Except as required by applicable law, the Company undertakes no obligation to update publicly or revise any forward-looking statements contained in this press release, whether as a result of any new information, changed circumstances or otherwise.

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

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SOURCE Anterix Inc.

FAQ

What did Anterix announce on November 11, 2021?

Anterix announced the successful completion of Phases I and II of a high-impact project with NREL, validating its 900 MHz private LTE network for grid communications.

How does Anterix's 900 MHz private LTE network benefit utilities?

The network supports cost-effective, scalable, and flexible wireless communications for grid modernization and decarbonization efforts.

What were the key outcomes of the NREL project with Anterix?

The project demonstrated effective private LTE communications in real-world utility applications, focusing on distribution grid protection.

Who were the partners in Anterix's project with NREL?

The project involved an Industry Advisory Board comprised of six leading utilities serving 18 states.

What risks does Anterix face related to its spectrum assets?

Anterix may face challenges in commercializing its spectrum assets and securing necessary broadband licenses.