High Wire Networks Wins $2.8M Contract for Global Online Retailer
Spectrum Global Solutions (OTCQB: SGSI) announced a $2.8 million contract with High Wire Networks for electrical services at a new 150,000-square-foot distribution center in Winfield, Illinois. This project involves the installation of a 2,500 amps electrical service, powering robotic charging stations and a conveyance system, along with services for LED lighting and a fire alarm system. The merger between High Wire and Spectrum is pending finalization, anticipated within weeks.
- The $2.8 million contract represents a significant revenue boost for Spectrum.
- Installation of advanced infrastructure for robotic technology positions Spectrum favorably in the growing automation market.
- Merger with High Wire is subject to closing conditions, introducing uncertainty.
- Dependence on the success of this contract and merger may pose risks for long-term stability.
High Wire to Deliver Power and Fire Alarm Infrastructure for New 150,000-Square-Foot Distribution Center with Robotic Technology in Chicago
BOCA RATON, Fla., and BATAVIA, Ill, Feb. 16, 2021 (GLOBE NEWSWIRE) -- Spectrum Global Solutions Inc. (the "Company" or "Spectrum") (OTCQB: SGSI), announced today that High Wire Networks Inc. (“High Wire”) has been awarded a
The large-scale project includes installation of new 2,500 amps electrical service and infrastructure to power multiple robotic charging stations and a large conveyance system at the customer site. The team also will deliver electrical services for LED lighting and lighting controls, and a generator for life safety systems and network backup power source.
In addition, High Wire will provide design and build services for the facility’s fire alarm system.
“We are excited for the opportunity to be part of powering a next-generation distribution facility with 24/7 robotic technology,” said High Wire CEO Mark Porter. “This is another big win, proving that general contractors and property owners trust our electrical and technology teams to provide the resources, expertise and management to successfully carry out critical infrastructure projects
As previously announced, High Wire has agreed to go public through a merger with Spectrum Global Solutions Inc. (OTCQB:SGSI). The closing of the merger is subject to certain closing conditions that are expected to be resolved within the next few weeks.
About Spectrum Global Solutions
Spectrum Global Solutions Inc. operates through its subsidiaries ADEX Corp., Tropical Communications Inc. and AW Solutions Puerto Rico LLC. The Company is a leading provider of telecommunications engineering and infrastructure services across the United States, Canada, Puerto Rico and Caribbean. For more information about the Company and its technologies visit the Company’s public filings at www.SEC.gov or the Company’s website at https://SpectrumGlobalSolutions.com/\
About High Wire Networks
For 20 years, High Wire Networks has been a trusted partner to VARs, MSPs, distributors, integrators, manufacturers, and telecom providers by enabling them to minimize overhead while extending delivery capabilities around the world. Our flexible workforce delivers vendor-agnostic technical field, professional and security services in more than 180 countries. Our services include design, installation, configuration, and support for unified communications, wired and wireless networks, cabling and infrastructure, and electrical systems. Our Overwatch Managed Security Platform-as-a-Service enables our partners to deliver comprehensive cybersecurity that’s easy to sell and easy to buy for an affordable subscription. We also offer a variety of on-demand, rapid-response solutions with service levels ranging from two hours to the next business day for onsite break-fix and remote technical support. With High Wire Networks, partners Get Work Done. Learn more at http://www.highwirenetworks.com
Forward-Looking Statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
Investor Relations
Spectrum Global Solutions
www.SpectrumGlobalSolutions.com/
561-672-7068
Media Relations
Susanna Song
Director of Marketing and Communications
High Wire Networks
630-635-6717
susanna.song@highwirenetworks.com
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