Airgain® Secures Multi-Million Dollar Contract with EV Charging Leader
23 November 2022 - 1:15AM
Business Wire
Airgain adds to its growing presence in
connected EV charging stations by securing a large contract with a
leading manufacturer
Airgain, Inc. (NASDAQ: AIRG) – a leading provider of wireless
connectivity solutions, creating and delivering products that
include embedded components, external antennas, and integrated
systems across the globe, announced today that a leading
manufacturer of electric vehicle (EV) charging stations has
selected Airgain’s NimbeLink® embedded modems to provide
connectivity to its expanding nationwide network. This win is the
latest for Airgain in a growing niche that includes several top
manufacturers who require reliable connectivity for maintenance,
status tracking, usage monitoring, payment processing, geolocation,
and more.
The EV charging market is rapidly expanding, driven by the
combination of customer demand, automaker investments, and
government funding. In fact, $7.5 billion from the 2021
Infrastructure Investment and Jobs Act has been earmarked
specifically for EV charging infrastructure. This is in addition to
other initiatives that include new federal tax credits for electric
vehicles as well as statewide bans on internal combustion engines.
To meet growing market demand, the EV charging segment will need to
grow nearly tenfold by 2030 just to keep up, according to industry
sources. This requires a rapid development process on the part of
manufacturers to bring new products to market faster. Airgain’s
dedicated market strategy is designed to identify and quickly
address the needs of EV charging manufacturers.
“Connectivity is a catalyst to growth in EV charging,” says
Brian Critchfield, Vice President of Marketing at Airgain. “Whether
it is the customer who uses an EV charging station or the operator
who manages it, connectivity is the backbone. With such rapid
market growth upon us, manufacturers do not have time to wait for
cellular carrier certification and often don’t have the RF
engineers on staff to address the growing complexity in wireless.
Airgain’s line of NimbeLink embedded modems simplify wireless
connectivity by offering an elegant solution that shortens
time-to-market and eliminates the need for in-house RF
expertise.”
Airgain’s line of NimbeLink embedded modems are end-device
certified, bypassing what is often months of delay and tens of
thousands of dollars in cost required to certify a device through
cellular carriers. In addition, all RF components are included in
the modem’s electronics, eliminating the need for RF design on the
motherboard. The only requirement is a standard 20-pin connector,
which allows for interchangeable modems and wireless modules. This
design greatly simplifies the process of bringing a wireless
product to market.
About Airgain, Inc.
Airgain simplifies wireless connectivity across a diverse set of
devices and markets, from solving complex connectivity issues to
speeding time to market to enhancing wireless signals. Our products
are offered in three distinct sub-brands: Airgain Embedded, Airgain
Integrated and Airgain Antenna+. Our mission is to connect the
world through optimized integrated wireless solutions. Airgain's
expertise in custom cellular and antenna system design pairs with
our focus on high-growth technologies and our dedication to
simplify the growing complexity of wireless. With a broad portfolio
of products across the value chain, from embedded components to
fully integrated products, we are equipped to solve critical
connectivity needs in both the design process and the operating
environment across the enterprise, automotive, and consumer
markets. Airgain is headquartered in San Diego, California, and
maintains design and test centers in the U.S., U.K., and China. For
more information, visit airgain.com, or follow Airgain on LinkedIn
and Twitter.
Airgain and the Airgain logo are trademarks or registered
trademarks of Airgain, Inc. All other trademarks are the property
of their respective owner.
Forward-Looking Statements
Airgain cautions you that statements in this press release that
are not a description of historical facts are forward-looking
statements. These statements are based on the company’s current
beliefs and expectations. These forward-looking statements include
statements regarding the expected outcomes of the development, time
to market, the performance of, and market for, Airgain’s products
or those of its partners; the growth of the EV charging market and
the importance of connectivity in connection with that growth; and
the ability to create solutions that are cost effective and meet
the needs of customers, as well as their acceptance by the market.
The inclusion of forward-looking statements should not be regarded
as a representation by Airgain that any of our plans will be
achieved. Actual results may differ from those set forth in this
press release due to the risk and uncertainties inherent in our
business, including, without limitation: the market for our
products is developing and may not develop as we expect; risks
associated with the performance of our products, including bundled
solutions with third-party products; if our channel partners fail
to perform, or our partnerships are unsuccessful, we may not be
able to bring our product solutions to market successfully or on a
timely basis; our products are subject to intense competition, and
competitive pressures from existing and new companies may harm our
business, sales, growth rates and market share; the COVID-19
pandemic, global supply chain constraints and rising interest rates
and inflation may continue to disrupt and otherwise adversely
affect our operations and those of our suppliers, partners,
distributors and ultimate end customers; risks associated with any
regulatory approvals that may be required; risks associated with
quality and timing in manufacturing our products and our reliance
on third-party manufacturers; we may not be able to maintain
strategic collaborations under which our bundled solutions are
offered; if we cannot protect our intellectual property rights, our
competitive position could be harmed or we could incur significant
expenses to enforce our rights; and other risks described in our
prior press releases and in our filings with the Securities and
Exchange Commission, including under the heading "Risk Factors" in
our Annual Report on Form 10-K and any subsequent filings with the
SEC. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
and we undertake no obligation to revise or update this press
release to reflect events or circumstances after the date hereof.
All forward-looking statements are qualified in their entirety by
this cautionary statement, which is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221122005194/en/
Airgain Media Contact: Brian Critchfield VP, Global
Marketing media@airgain.com (760) 579-0200 x5412
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