WOODLAND PARK, N.J., Dec. 21, 2020
/PRNewswire/ -- Anterix (NASDAQ: ATEX) today announced
its first long-term 900 MHz broadband spectrum lease agreements,
covering Ameren Corporation's ("Ameren") service territories for 30
years. These agreements enable Ameren's deployment of a private LTE
network to support its digital transformation to deliver benefits
for millions of Ameren customers in Illinois and Missouri. Ameren will enjoy the scale,
security, and innovation benefits that the global LTE ecosystem
provides, while simultaneously maintaining control of its own
private communications capabilities with licensed spectrum.
"Today's announcement officially launches the utility industry's
capturing of the tremendous benefits of 900 MHz private LTE, a
foundational element of a reliable and secure electric grid," said
Anterix President & CEO Rob
Schwartz. "As Anterix continues to collaborate with the
fantastic team at Ameren to help achieve their broadband vision
beyond these milestone agreements, we believe this partnership will
also drive the utility sector's collective adoption of 900 MHz
private LTE."
"We see 900 MHz private LTE as a vital component of our
digitization strategy to support a wide range of benefits to Ameren
and its customers, allowing for the eventual consolidation of over
20 of our legacy networks onto one platform," said Bhavani Amirthalingam, Senior Vice President and
Chief Digital Information Officer for Ameren. "Anterix has been a
valuable partner in our pursuit of the critical communications
layer of our digital grid. Over the next several decades, this
private LTE network will advance the reliability and security of
the electric grid through a range of broadband-enabled applications
and services, including the integration of distributed energy
resources to help us meet our net-zero carbon emissions goal by
2050."
Recognizing the scarcity of the spectrum asset, Ameren was an
early advocate for regulatory changes by the FCC that would enable
broadband services in the 900 MHz spectrum band and is a founding
member, along with Anterix, of the Utility Broadband Alliance.
Ameren piloted multiple use cases, and after a successful outcome,
elected to execute these agreements. Following Ameren's lead,
numerous additional utilities are working with Anterix to explore
900 MHz private LTE opportunities.
The agreements are subject to customary terms and conditions,
including board approvals as well as the conversion of Anterix's
spectrum into broadband licenses in Ameren's service territories.
For additional information regarding the terms of the lease
agreements between Ameren and Anterix, please visit the Investor
Relations page of the Anterix website at
anterix.com/investors/.
About Anterix
At Anterix (NASDAQ: ATEX), we are focused on
delivering transformative broadband that enables the modernization
of critical infrastructure for the energy, transportation,
logistics and other sectors of our economy. As the largest
holder of licensed spectrum in the 900 MHz band, with nationwide
coverage throughout the contiguous United
States, Hawaii, Alaska and Puerto Rico, we are
uniquely positioned to enable the private LTE broadband solutions
that support secure, resilient and customer-controlled
operations.
About Ameren Corporation
St. Louis-based Ameren
Corporation powers the quality of life for 2.4 million electric
customers and more than 900,000 natural gas customers in a
64,000-square-mile area through its Ameren Missouri and Ameren
Illinois rate-regulated utility subsidiaries. Ameren Illinois
provides electric transmission and distribution service
and natural gas distribution service. Ameren Missouri
provides electric service generation, transmission and distribution
services, as well as, natural gas distribution service. Ameren
Transmission Company of Illinois
develops, owns and operates rate-regulated electric transmission
projects. For more information, visit Ameren.com, or follow us on
Twitter at @AmerenCorp, Facebook.com/AmerenCorp, or
LinkedIn.com/company/Ameren.
Forward-looking Statements
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
include statements regarding: (i) the Company's ability to qualify
for and obtain broadband licenses pursuant to the terms of the
Report & Order, (ii) the Ameren Board of Directors will approve
the lease agreements, and (iii) the demand by other utilities and
critical infrastructure enterprises to enter into long-term lease
arrangements for the Company's spectrum assets and to deploy
broadband LTE networks and solutions. 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,
including: (i) Ameren Board of Directors may not approve the lease
agreement; (ii) the Company may not be able to obtain broadband
licenses on favorable terms and on a timely basis, or at all; (iii)
the Company may not be successful in commercializing its spectrum
assets to its targeted critical infrastructure and enterprise
customers; (iv) the Company has no operating history with its
proposed business plan, which makes it difficult to evaluate its
prospects and future financial results; and (v) the ongoing
coronavirus outbreak could adversely impact the Company's business,
including its broadband licensing and commercialization efforts.
These risks and uncertainties 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 its Annual Report on Form 10-K
for the fiscal year ended March 31,
2020, filed with the SEC on May 28,
2020. 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.
Contact
Anterix
Natasha Vecchiarelli
Director of Investor Relations & Corporate Communications
973-531-4397
Hill+Knowlton Strategies
James Fuller
Executive Vice President
240-393-1369
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SOURCE Anterix Inc.