WOODLAND PARK, N.J., Sept. 12, 2019 /PRNewswire/ -- Anterix (NASDAQ: ATEX) announced today the completion of phase one of the company's ongoing project with the U.S. Department of Energy's National Renewable Energy Laboratory (NREL). Leveraging Anterix's 900 MHz spectrum, NREL has successfully demonstrated increased reliability for distributed generation systems such as solar and wind using private Long-Term Evolution (LTE) communications. The results show the potential for private LTE networks to effectively transmit control information without interruption or delay, regardless of usage level or other congestion conditions.
NREL and Anterix have been working with an independent Industrial Advisory Board (IAB), comprised of seven leading utilities that provide service across 18 states, as well as the former Chief Technology Officer of the DOE, Pete Tseronis. The members of the IAB include Consumers Energy, Duke Energy, Evergy, Eversource Energy, Hawaiian Electric, Holy Cross Energy and Xcel Energy. Together, they have worked to analyze the performance of private LTE broadband networks and accelerate the development and validation of innovative approaches to enhance the resilience of distribution systems, including microgrids, with high penetration of distributed energy resources (DERs). The initial results of this innovative project show that Anterix's private 900 MHz broadband spectrum can enable a private LTE network to quickly communicate signals to energy grid devices.
"Anterix is proud to support the NREL project to help define resilient and secure communications for our nation's critical infrastructure. These initial results give a baseline for controlling intermittent energy sources that utilities can refer to as they plan for a future filled with solar generation. Technology moves fast; the utility industry is moving with it and Anterix is committed to supporting these transformative changes leveraging private 900 MHz broadband spectrum," said Mike Brozek, Senior Vice President of Technology for Anterix.
"Adding more renewable and advanced energy technologies to the grid requires a backbone of secure, reliable communications," said Juan Torres, NREL's Associate Laboratory Director for Energy Systems Integration. "NREL's work with Anterix at the Energy Systems Integration Facility is answering questions and identifying scalable solutions to allow communications to keep pace with deployment."
Moving into phase two, the private LTE network will be expanded to include a full suite of utility grid automation devices and the Advanced Distribution Management System (ADMS) control system. Similar wireless congestion scenarios will be tested with high impact communications, such as control signals, prioritized over normal traffic such as meter reads. The IAB will guide these efforts to ensure the testing scenarios reflect real world utility conditions.
Anterix (NASDAQ: ATEX) is focused on empowering the modernization of critical infrastructure and enterprise business communications by enabling broadband connectivity. Our foundational spectrum provides the ability to transform our customers operations to meet new business complexities while achieving higher levels of performance and safety. Anterix is the largest holder of licensed spectrum in the 900 MHz band, with nationwide coverage throughout the contiguous United States, Hawaii, Alaska and Puerto Rico. Anterix is currently pursuing a regulatory proceeding at the Federal Communications Commission that seeks to modernize and realign the 900 MHz band by allowing it to be utilized for the deployment of broadband networks, technologies and solutions. Our chairman and our CEO co-founded Nextel Communications and have over 60 years of combined experience in telecom operations and innovative spectrum initiatives.
Any statements contained in this press release that do not describe historical facts are forward-looking statements as defined under the Federal securities laws. These forward-looking statements may include, but are not limited to, statements regarding: (i) projected capabilities of private LTE networks, (ii) the expected timing of the FCC's issuance of a final Report and Order; (iii) the Company's ability to satisfy the FCC's future requirements to qualify for broadband licenses; and (iv) the demand by, and the Company's potential contractual terms with, other electric utilities and critical infrastructure providers for the lease of its spectrum assets. Any such forward-looking statements are based on the Company's current expectations and are subject to a number of risks and uncertainties that could cause its actual future results to differ materially from its current expectations or those implied by the forward-looking statements. These risks and uncertainties include, but are not limited to: (i) the FCC may not issue a final Report and Order on a timely basis, or at all; (ii) the terms of any final Report and Order may not be favorable or may significantly delay or increase the costs required to commercialize the Company's spectrum assets compared to the timing and costs assumed in its business plan; (iii) even if its FCC initiatives are successful, the Company may not be successful in commercializing its spectrum assets to its targeted customers and markets; (iv) the Company's initiatives with the federal and state agencies and commissions that regulate electric utilities may not be successful; (v) the Company has no operating history with its proposed business plan, which makes it difficult to evaluate its prospects and future financial results, and its business activities, strategic approaches and plans may not be successful; (vi) the Company may not be able to correctly estimate its operating expenses or future revenues; (vii) many of the third parties who have objected to the Company's FCC initiatives, or with whom it competes against, have more resources, and greater political and regulatory influence; and (viii) spectrum is a limited resource, and the Company may not be able to obtain sufficient contiguous spectrum to support its spectrum initiatives or its planned business operations and future growth. These and other factors that may affect the Company's future results of operations are identified and described in more detail in its filings with the Securities and Exchange Commission (the "SEC"), including the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2019, filed with the SEC on August 8, 2019. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except as required by applicable law, the Company does not intend to update any of the forward-looking statements to conform these statements to actual results, later events or circumstances or to reflect the occurrence of unanticipated events.
Director of Investor Relations & Corporate Communications