Verizon Business, VIT reach agreement for private 5G network

Rhea-AI Summary

Verizon Business has partnered with Virginia International Terminals to establish a private 5G Ultra Wideband network at The Port Of Virginia, enhancing high-bandwidth industrial operations and secure networking. This marks Verizon's second deal with an international port and its first with a U.S. terminal. The 5G network will enable VIT to test autonomous truck technologies and improve logistical efficiencies. In the last fiscal year, VIT handled 3.7 million TEUs, generating approximately $47 billion in state gross product.

Positive

• Establishment of a private 5G network enhances operational efficiency.
• Potential for autonomous vehicle technology may address truck driver shortages.
• VIT's significant cargo handling (3.7M TEUs) reflects strong operational capacity.

Negative

• None.

The commercial On Site 5G sale brings 5G to The Port Of Virginia for high-bandwidth industrial uses and secure day-to-day networking

NEW YORK, July 21, 2022 (GLOBE NEWSWIRE) -- Verizon Business and Virginia International Terminals, LLC (VIT) today announced an agreement to build a private 5G Ultra Wideband network at one of The Port Of Virginia’s main container terminals.

Virginia International Terminals (VIT) is a privately held terminal operating company that is owned by the Virginia Port Authority, which is an agency of the state of Virginia. VIT is one of the most technologically advanced container terminal operators in the world, and will use the network to explore the use of autonomous over-the-road trucks for accessing the terminal to drop-off and pick-up shipping containers. The On Site 5G private network deployment is scalable and also gives VIT the ability to replace WiFi with secure, private 5G connectivity across its Virginia International Gateway facility, a 275 acre marine terminal.

The deal is Verizon Business’ second with a major international port and its first with a U.S.-based terminal.

“Seaports provide some of the best possible examples of the power of private 5G, with uses spanning autonomous vehicles, connected heavy equipment, and secure, real-time tracking and logistics, among many others,” said Sowmyanarayan Sampath, CEO of Verizon Business. “That’s why On Site 5G is ideal for innovative partners like Virginia International Terminals. It puts a wide range of 5G capabilities on offer, from data-intensive, high-bandwidth industrial needs to secure, reliable broadband for everyday business.”

“Verizon’s On Site 5G private network is right for us because it’s flexible, scalable, and powerful enough for both industrial outdoor use and office broadband,” said Rich Ceci, SVP of Technology and Projects, VIT. “The development of autonomous vehicles technology applied to over-the-road trucks has significant environmental impacts, and addresses a major shortfall of truck drivers that is currently plaguing the transportation industry. We view Verizon as the premier 5G supplier in the market and are excited to be working with them.”

In the recently closed fiscal year, VIT handled 3.7M TEUs (2 million containers) and accounted for approximately $47 billion in gross product for the state. VIT recently received a U.S. Department of Transportation grant to create a proof of concept for autonomous over-the-road trucks, bringing together experts from industry and academia to devise a solution for this critical logistics chain need. Private 5G is a critical component to the solution being developed.

On Site 5G is a secure non-standalone private network that combines 5G Ultra Wideband small cells with an LTE packet core and supporting radios, providing compatibility with a wide range of both LTE and 5G devices. As 5G technology and capabilities advance and evolve, On Site 5G provides customers with a scalable, customizable platform to take advantage of developments in burgeoning technologies such as IoT, AI/ML, AR/VR, real-time edge compute, and much more.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $133.6 billion in 2021. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:
Matt Conte
matt.conte@verizon.com
(917) 848-3040

FAQ

What is the purpose of Verizon's partnership with Virginia International Terminals?

The partnership aims to establish a private 5G network at The Port Of Virginia to enhance high-bandwidth industrial operations and secure networking.

How will the private 5G network benefit Virginia International Terminals?

The 5G network will allow VIT to explore autonomous trucking and replace WiFi with a secure, high-capacity connectivity solution.

What is the significance of the 5G network for logistics at the Port Of Virginia?

The network will improve logistical efficiencies and support advanced technologies like autonomous vehicles for better operations.

What was the cargo handling performance of Virginia International Terminals in the last fiscal year?

VIT handled 3.7 million TEUs, accounting for approximately $47 billion in gross product for the state.

When was the announcement of the Verizon- Virginia International Terminals partnership made?

The partnership announcement was made on July 21, 2022.