Increased international demand from partners
to accelerate market adoption worldwide
MCLEAN,
Va., June 20, 2024 /PRNewswire/ -- Iridium
Communications Inc. (Nasdaq: IRDM), a leading provider of global
voice and data satellite communications, today announced expanded
commercial availability of its Satellite Time and Location (STL)
service, the leading alternative positioning, navigation, and
timing (PNT) solution. Driven by increased commercial demand,
Iridium partners are now authorized to sell the service in parts of
Europe and Asia Pacific, helping to protect locally
relied upon GNSS systems, like GPS and Galileo, with a signal
highly resilient to spoofing and jamming, that also helps ensure
the fidelity of timing systems. Iridium STL is capable of service
everywhere on the planet, and additional geographies are planned
for commercial authorization as the company's partners scale and
train sales and support staff.
Europe, specifically, has seen
a dramatic rise in GPS jamming and spoofing, while parts of
Asia are also seeing increased
activity. These attacks pose a serious threat to critical
infrastructure such as transportation systems, energy grids, data
centers, telecommunications networks and financial services, which
all stand to benefit from the adoption of more powerful PNT
signals, like Iridium's STL service. Broadcasting a signal 1,000
times more powerful than GPS, the Iridium® STL service
is also uniquely suited for indoor use, with no need to install
rooftop antennas, creating a more secure and cost-effective timing
solution.
"We're cognizant of the threats facing GNSS-reliant critical
infrastructure around the world and our responsibility to deploy
the antidote as quickly as possible," said Iridium CEO,
Matt Desch. "The average person is
more and more aware of how important systems like GPS are in our
day-to-day lives, and when Iridium recently acquired Satelles, I
pledged to step on the gas and expand market availability for this
increasingly in demand solution. Today's announcement demonstrates
that commitment."
Iridium STL solutions are small, cost-effective and easy to
install. Brand name technology partners that manufacture and sell
STL-capable user equipment are simultaneously increasing their
focus on these expanded markets in Europe and Asia. Their STL solutions can be added to
existing GNSS-reliant network systems or serve as stand-alone
primary units.
With this expansion, Iridium STL can now be purchased by
companies in North America and
parts of Europe and Asia Pacific. Further sales support is
expected in the future to meet customer demand.
For more information about the Iridium STL service and how your
organization can increase its protection against disruptions to GPS
and other GNSS systems, visit
https://www.iridium.com/satellite-time-location or email
pnt@iridium.com
About Iridium Communications Inc.
Iridium® is the only mobile voice and data satellite
communications network that spans the entire globe. Iridium enables
connections between people, organizations, and assets to and from
anywhere, in real time. Together with its ecosystem of partner
companies, Iridium delivers an innovative and rich portfolio of
reliable solutions for markets that require truly global
communications. In 2024, Iridium acquired Satelles and announced
the Iridium Satellite Time and Location service. Iridium
Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock
trades on the Nasdaq Global Select Market under the ticker symbol
IRDM. For more information about Iridium
products, services, and partner solutions, visit
www.iridium.com.
Forward-Looking Statements Disclosure
Statements in this presentation that are not purely
historical facts may constitute forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
The Company has based these statements on its current expectations
and the information currently available to us. Forward-looking
statements in this press release include statements regarding the
expansion of availability of the Iridium STL service.
Forward-looking statements can be identified by the words
"anticipates," "may," "can," "believes," "expects," "projects,"
"intends," "likely," "will," "to be" and other expressions that are
predictions or indicate future events, trends or prospects. These
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of Iridium to differ materially from
any future results, performance or achievements expressed or
implied by such forward-looking statements. These risks and
uncertainties include, but are not limited to, uncertainties
regarding the expansion of partner sales and support teams, and the
company's ability to maintain the health, capacity and content of
its satellite constellation, as well as general industry and
economic conditions, and competitive, legal, governmental and
technological factors. Other factors that could cause actual
results to differ materially from those indicated by the
forward-looking statements include those factors listed under the
caption "Risk Factors" in the Company's Form 10-K for the year
ended December 31, 2023, filed with
the Securities and Exchange Commission (the "SEC") on February 15, 2024, as well as other filings
Iridium makes with the SEC from time to time. There is no assurance
that Iridium's expectations will be realized. If one or more of
these risks or uncertainties materialize, or if Iridium's
underlying assumptions prove incorrect, actual results may vary
materially from those expected, estimated or projected. Iridium's
forward-looking statements speak only as of the date of this press
release, and Iridium undertakes no obligation to update
forward-looking statements.
Press Contact:
|
Investor
Contact:
|
Jordan Hassin
|
Kenneth Levy
|
Iridium Communications
Inc.
|
Iridium Communications
Inc.
|
Jordan.Hassin@Iridium.com
|
Ken.Levy@Iridium.com
|
X: @Iridiumcomm
|
+1 (703)
287-7570
|
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SOURCE Iridium Communications Inc.