Sumitomo Construction Machinery Co.,Ltd. Deploys Iridium® for Heavy Equipment Satcom

Rhea-AI Summary

On March 16, 2022, Iridium Communications Inc. (NASDAQ: IRDM) announced a partnership with Sumitomo Construction Machinery Co., Ltd. (SCM) to integrate its satellite communication technology into SCM's Link-Belt RemoteCARE service. This deployment will initially support North American operations, with plans for global expansion. The collaboration aims to enhance monitoring and tracking of heavy machinery through Iridium's reliable two-way communication, improving operational oversight and asset management. Iridium's IoT subscriber base grew 24% year-over-year, indicating strong market demand and relevance in satellite connectivity.

Positive

• Partnership with Sumitomo Construction Machinery enhances Iridium's market presence.
• Expansion of Link-Belt RemoteCARE with Iridium connectivity promises global reach.
• 24% year-over-year growth in IoT subscribers indicates strong demand for services.

Negative

• None.

MCLEAN, Va., March 16, 2022 /PRNewswire/ -- Iridium Communications Inc. (NASDAQ: IRDM) today announced that Sumitomo Construction Machinery Co.,Ltd. (SCM) a leading manufacturer of heavy equipment, has deployed Iridium satcom for its Link-Belt Excavators (LBX). Through this partnership, SCM has initially added Iridium's Short Burst Data^® (SBD^®) service to its RemoteCARE service platform in North America and will continue to expand deployment globally.

Link-Belt RemoteCARE^® is a user-friendly management tool that combines telematics data with GPS technology to remotely monitor and track machine performance. Iridium connectivity will provide LBX with a variety of benefits, including truly global real-time connectivity and reliable two-way communications for location tracking, operational performance reports, working status updates, periodic maintenance reports and 24-hour security and geofencing capabilities. In addition, Iridium coverage means Link-Belt RemoteCARE can now support SCM's customers in new geographies, previously not possible due to lack of connectivity.

"At SCM we prioritize providing reliable asset management capabilities to customers through our Link-Belt RemoteCARE system. The addition of Iridium satellite connectivity will deliver many benefits including highly reliable connectivity and real-time communication of important machinery data," said Hiroyuki Tsukamoto, General Manager of ICT Utilization and Analytic Operations, Sumitomo Construction Machinery Co.,Ltd. "It will also enhance our telematics business and expand our worldwide deployment. We are happy to be an Iridium partner and establish this long-term relationship."

"Sumitomo Group is a world class corporation with a profound history, and we're honored that they're adding Iridium satellite connectivity to their heavy equipment," says Bryan Hartin, Executive Vice President, Iridium. "The addition of Iridium connectivity for Link-Belt RemoteCARE will help expand machinery monitoring to the most remote places in North America, and we look forward to seeing this expansion continue globally." 

Iridium has become the de-facto standard for satellite connectivity by heavy equipment manufacturers globally and is the industry leader in satellite IoT connectivity. As of the fourth quarter of 2021, Iridium commercial IoT subscribers grew 24% from the year ago period to 1,193,000 customers. No other satellite company can match the coverage, reliability and ease of adoption of Iridium.

For more information about Iridium visit: https://www.iridium.com
For more information about Sumitomo Construction Machinery Co.,Ltd. visit: https://www.sumitomokenki.com/
For more information about RemoteCARE visit: https://en.lbxco.com/remotecare/

Iridium Communications Inc. 
Iridium^® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2019, the company completed a generational upgrade of its satellite network and launched its new specialty broadband service, Iridium Certus^®. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com. 

Press Contact:
Jordan Hassin
Iridium Communications Inc.
Jordan.Hassin@Iridium.com 
+1 (703) 287-7421
Twitter: @Iridiumcomm

Investor Contact:
Kenneth Levy
Iridium Communications Inc.
Ken.Levy@Iridium.com
+1 (703) 287-7570

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SOURCE Iridium Communications Inc.

FAQ

What is the significance of Iridium's partnership with Sumitomo Construction Machinery?

The partnership allows Iridium to integrate its satellite communication services into SCM's Link-Belt RemoteCARE system, enhancing machinery monitoring and operational efficiency.

When was the partnership between Iridium and Sumitomo announced?

The partnership was announced on March 16, 2022.

How does Iridium's technology benefit heavy machinery operators?

Iridium's technology provides real-time connectivity, location tracking, and operational performance reports, allowing for better asset management.

What growth has Iridium experienced in its IoT subscriber base?

As of Q4 2021, Iridium's IoT subscribers grew 24% year-over-year, reaching 1,193,000 customers.

What is the stock symbol for Iridium Communications Inc.?

Iridium Communications Inc. trades under the stock symbol IRDM on NASDAQ.