Corning and EnerSys Announce Collaboration to Help Speed 5G Deployment

Rhea-AI Summary

Corning (GLW) and EnerSys (ENS) announced a strategic collaboration to accelerate 5G deployment by simplifying fiber and electrical power delivery to small-cell sites. The partnership aims to address infrastructure challenges impacting the deployment of outdoor small cells by improving power accessibility and fiber connectivity. This collaboration is expected to enhance operational efficiency, lower installation costs, and expedite service availability, positioning Corning to leverage 5G as a key growth driver in its Optical Communications business.

Positive

• Strategic collaboration with EnerSys to simplify 5G small cell deployment.
• Focus on improving power access and fiber connectivity, crucial for network activation.
• Expected reduction in installation costs and operational expenses.

Negative

• None.

CORNING, NY, July 15, 2020 (GLOBE NEWSWIRE) -- Corning Incorporated (NYSE:GLW) and EnerSys (NYSE:ENS) today announced a strategic collaboration to speed 5G deployment by simplifying the delivery of fiber and electrical power to small-cell wireless sites.

The collaboration will leverage Corning's industry-leading fiber, cable, and connectivity expertise and EnerSys’ technology leadership in remote powering solutions. The companies are working to solve infrastructure challenges in the deployment of 5G and small cells in outside plant networks.

Corning and EnerSys will focus on two types of challenges facing wireless service providers and network architects in the deployment of outdoor small cells: electrical power and fiber connectivity. Power is often assumed to be available when and where needed, but, in reality, connections to small-cell sites from the electrical grid are not always readily available – increasing deployment costs and delaying network activation. Meanwhile, small cell locations that optimize signal coverage may not align well with the fiber pathways that provide the necessary backhaul. Identifying easily placed fiber access points and the pathway to reach them is key to avoiding costly delays.

The Corning and EnerSys collaboration will accelerate the development of solutions to deliver distributed powering and optical connectivity, helping telecommunications operators ultimately move toward routine deployment of 5G.

“The deployment scale of 5G small cells is placing significant pressure on utilities to provide power at each location, delaying service availability,” said Michael O’Day, vice president, Corning Optical Communications. “Corning and EnerSys will focus on simplifying deployment by bringing together the delivery of optical connectivity and power distribution – making installation faster and less costly and providing much lower operational costs over time. Corning continues to view 5G as a major driver of long-term growth in the Optical Communications business, so we’re proud to continue co-innovating with industry leaders to help accelerate 5G deployment.”

“To realize its full potential, 5G deployment needs to become efficient and predictable. Our collaboration with Corning is aimed at simplifying the powering process and fiber connectivity to fast-forward deployment,” said Drew Zogby, president, EnerSys Energy Systems Global. “The output of this collaboration will minimize logistics with power utilities, reduce the amount of time for permitting and siting, simplify fiber connectivity, and lower the overall cost of installation and deployment.”

Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; the risk that a new program such as this collaboration may not be successful or fully achieve the objectives of the participants; and adverse litigation or regulatory developments. These and other risk factors are detailed in filings with the Securities and Exchange Commission by Corning and EnerSys. Forward-looking statements speak only as of the day that they are made, even if subsequently made available by Corning or EnerSys on their respective websites or otherwise, and Corning and EnerSys undertake no obligation to update or revise them in light of new information or future events.

Digital Media Disclosure – Corning
In accordance with guidance provided by the SEC regarding the use of company websites and social media channels to disclose material information, Corning Incorporated (“Corning”) wishes to notify investors, media, and other interested parties that it intends to use its website (http://www.corning.com/worldwide/en/about-us/news-events.html) to publish important information about the company, including information that may be deemed material to investors. The list of websites and social media channels that the company uses may be updated on Corning’s media and website from time to time. Corning encourages investors, media, and other interested parties to review the information Corning may publish through its website and social media channels as described above, in addition to the company’s SEC filings, press releases, conference calls, and webcasts.

About Corning Incorporated
Corning (www.corning.com) is one of the world's leading innovators in materials science, with a 169-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include mobile consumer electronics, optical communications, automotive technologies, life sciences technologies, and display technologies.

About EnerSys
EnerSys, the global leader in stored energy solutions for industrial applications, manufactures and distributes reserve power and motive power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosure solutions to customers worldwide. Motive power batteries and chargers are utilized in electric forklift trucks and other commercial electric powered vehicles. Reserve power batteries are used in the telecommunication and utility industries, uninterruptible power supplies, and numerous applications requiring stored energy solutions including medical, aerospace and defense systems. EnerSys provides highly integrated power solutions and services to broadband, telecom, renewable and industrial customers. Outdoor equipment enclosure products are utilized in the telecommunication, cable, utility and transportation industries, and by government and defense customers. The company also provides aftermarket and customer support services to its customers from over 100 countries through its sales and manufacturing locations around the world.

Corning Media Relations Contacts:                        
John Arwood                                                             
(828) 320-3249                                                      
arwoodjm@corning.com                                           

Gabrielle Bailey
(607) 974-6394
baileygr@corning.com

Corning Investor Relations Contact:
Ann H.S. Nicholson
(607) 974-6716
nicholsoas@corning.com

EnerSys Media Relations Contact:                        
Steve Heir                                                                
(610) 236-4040                                                        
mediacontacts@enersys.com                                    

EnerSys Investor Relations Contact:
Steve Heir
(610) 236-4040
investorrelations@enersys.com

FAQ

What is the Corning and EnerSys collaboration about?

The collaboration aims to simplify the delivery of fiber and power to accelerate 5G deployment.

How does the Corning and EnerSys partnership impact 5G deployment?

It addresses infrastructure challenges, enhancing operational efficiency and reducing costs.

What are the financial implications of the GLW and ENS collaboration?

The collaboration is expected to lower costs associated with 5G installation and improve service availability.

When was the collaboration between Corning and EnerSys announced?

The collaboration was announced on July 15, 2020.