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Edgewater Wireless Applauds and Supports the Government of Canada’s Announced Semiconductor Challenge Callout
Rhea-AI Impact
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Edgewater Wireless Systems Inc. (OTC: KPIFF) commends the Canadian government's announcement of a $240 million investment in the semiconductor sector. The funds aim to enhance Canada's capabilities in semiconductor development, with $150 million allocated through the Strategic Innovation Fund and $90 million for the Canadian Photonics Fabrication Centre. Edgewater, recognized for its Wi-Fi Spectrum Slicing technology, positions itself strongly in this evolving landscape, emphasizing its innovation and growth potential as Canada seeks to establish itself as a global semiconductor leader.
Positive
Government's $240 million investment supports semiconductor development.
$150 million from the Strategic Innovation Fund to strengthen domestic semiconductor capabilities.
Edgewater Wireless positioned to capitalize on growth in the semiconductor market.
Negative
None.
Initiative aims tosolidify Canada's role as a global leader in the development and manufacturing of semiconductors
Highlights:
Government of Canada Announces $240M Investment in Canadian Semiconductor and Photonics Industries; Issues Semiconductor Challenge
$150 million to be provided through the Strategic Innovation Fund to make targeted investments to build on Canada's domestic strengths associated with the development and supply of semiconductors
Edgewater Wireless, the industry leader in Wi-Fi Spectrum Slicing technology and silicon solutions, is “up for the challenge”
OTTAWA, Ontario--(BUSINESS WIRE)--
Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF), the industry leader in Wi-Fi Spectrum Slicing technology for residential and enterprise markets, applauds the Government of Canada’s announced Semiconductor Challenge Callout to solidify Canada's role as a global leader in development and manufacturing of semiconductors.
The Government of Canada has recognized the many issues and challenges related to semiconductor supply, the impact on all sectors of the economy, and ultimately the effects on individual Canadians’ everyday lives. The government announcement demonstrates its commitment to collaborating and supporting Canadian researchers and businesses to strengthen Canada's position in the semiconductor industry.
"Our government wants Canada to be a strategic global leader in the semiconductor industry. That's why we're investing $240 million today to strengthen our semiconductor ecosystem, which will allow us to build a more innovative and resilient economy. By investing in Canada's semiconductor industry, we are making a firm commitment to businesses looking to invest in Canada. Whether it's high-value or large-scale manufacturing, we want to see Canada be home to the world's leading semiconductor manufacturers. We are also proud to support the revitalization of the National Research Council's CPFC, which will enhance Canada's already impressive photonics sector," said The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry.
"Edgewater is a Canadian-grown company based in Ottawa and exclusively focused on next-generation wireless technologies. As the number of wireless and Wi-Fi devices continues to increase, the market for innovations like Spectrum Slicing technology continues to grow rapidly. Funding programs like SIF help create a platform to grow Canadian innovation and allow emerging companies like Edgewater to secure a position in the global semiconductor market," stated Andrew Skafel, President and CEO of Edgewater Wireless. "Our technology's disruptive potential and proven performance are highlighted by our 25 patents and existing partnerships and alliances with global industry leaders like CableLabs. Furthermore, the strategic decision to on-shore our silicon design and development programs aligns with the Callout Challenge's and other North American initiatives to bring supply line certainty to the industry. With capital programs like the Semiconductor Challenge being made increasingly available to North American chip manufacturers, developers and thought leaders, Edgewater Wireless is well-positioned to help Canada establish itself as a critical component of North America's evolving semiconductor ecosystem."
Edgewater Recognized in StartUpPill.com Article’s top picks for best Canadian based Semiconductor companies:
Digital publisher, Startupill.com recently showcased its top picks for the best Canada-based semiconductor companies and startups. Highlighting companies innovating the semiconductor industry, Edgewater was the 16th company recognized for exceptional performance in one of the following categories:
About Edgewater Wireless We make Wi-Fi. Better.
Edgewater Wireless (www.edgewaterwireless.com) is the industry leader in innovative Spectrum Slicing technology for residential and commercial markets. We develop advanced Wi-Fi silicon solutions, Access Points, and IP licensing designed to meet the high-density and high quality-of-service needs of service providers and their customers. With 25 patents, Edgewater’s Multi-Channel, Single Radio (MCSR) technology revolutionizes Wi-Fi, delivering next-generation Wi-Fi today.
Edgewater’s physical layer SpectrumSlicing allows a frequency band to be divided, or sliced, to enable more radios to operate in a given area. Think of SpectrumSlicing like moving from a single-lane road to a multi-lane highway — regardless of Wi-Fi technology. The recently completed Proof of Concept (PoC) with a major Tier 1 Service Provider showed 7 to 18 times performance gains in 75% of homes surveyed. Interestingly, homes with the most devices saw the greatest improvements.
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect," "anticipate," "continue," "estimate," "objective," "ongoing," "may," "will," "project," "should," "believe," "plans," "intends" and similar expressions are intended to identify forward-looking information or statements. Although Edgewater Wireless believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Edgewater Wireless can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause Edgewater Wireless’ actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to access to capital markets, market forces, competition from new and existing companies and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. Edgewater Wireless undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
What is the significance of the $240 million investment for Edgewater Wireless (KPIFF)?
The $240 million investment by the Canadian government aims to bolster the semiconductor industry, directly benefiting companies like Edgewater Wireless.
How will the Strategic Innovation Fund impact Edgewater Wireless (KPIFF)?
The $150 million allocation through the Strategic Innovation Fund will help Edgewater Wireless enhance its semiconductor and wireless technology capabilities.
What role does Edgewater Wireless (KPIFF) play in Canada's semiconductor strategy?
Edgewater Wireless is positioned as a key player in advancing Canada's semiconductor strategy through its innovative Wi-Fi Spectrum Slicing technology.
What funding is allocated for the Canadian Photonics Fabrication Centre related to Edgewater Wireless (KPIFF)?
The Canadian government has earmarked $90 million for the Canadian Photonics Fabrication Centre, which will support companies like Edgewater Wireless in semiconductor development.
How does Edgewater Wireless (KPIFF) plan to utilize the new funding opportunities?
Edgewater Wireless intends to secure its position in the global semiconductor market by leveraging the funding to advance its technology and innovation.
