Open Letter to Infrax Systems (IFXY) Shareholders
16 February 2011 - 12:00AM
Marketwired
Infrax Systems, Inc., (OTCBB: IFXY), a global provider of unified
Smart Grid-related products and services for the Energy and Utility
industries, today issued the following letter to our shareholders
from our CEO Paul Aiello:
Dear Fellow Shareholders,
In September of last year I published an open letter to our
shareholders updating all of you on our business, strategy and
vision. With all of our current activities, I thought that an
update was appropriate.
This is truly an exciting time in our corporate history. Until
now, we have been an R&D company focused on developing our
solutions and positioning for the future. We are now beginning the
process of launching our smart grid products and deploying our
solutions for field trials. Our recent experience at the
DistribuTECH exposition further validated our solution and our
direction.
Infrax Systems has developed a Secure Intelligent Energy
Platform for the emerging smart grid. The core technology is an
encrypted intelligent meter card that can be deployed in existing
one way meters to provide secure two way communications or in a
current two way meter to provide for encrypted secure data and
communications.
Portfolio Further Expanded
We purchased Trimax Wireless in June of 2010 to obtain access to
their proprietary wireless technology. Trimax's unique technology
is the core of our communications platform to transmit the secure
meter data from the meter back to the utility. This technology will
allow utilities to migrate off of the current communications
technologies available, either 900 MHz or cellular. The 900 MHz
spectrum is crowded, noisy and unreliable and the use of cellular
technology for metering is extremely expensive from a recurring
cost standpoint. Additionally, we have modified one of the Trimax
platforms to provide wireless backhaul for utilities in a hardened
environment. Our UMAX product provides high capacity backhaul with
an Ethernet handoff and the UMAX+ adds T-1/E-1 capability as well.
We are currently field trialing this technology with a large
utility.
We have entered into an LOI to purchase a large infrastructure
design and construction firm, BSI, for several key reasons. First,
they bring a highly skilled installation work force to Infrax for
the deployment of our smart grid solutions, allowing us to be a
one-stop provider to the utilities. They have a large fleet of
equipment and vehicles and are currently operating or have
completed projects in 16 states. Additionally, BSI has a wealth of
experience and a stellar reputation in designing and implementing
command & control systems and electrical grid interconnection
for wind and solar applications. This will provide for the
expansion of our solutions into the alternative energy space as
well. BSI also has a significant backlog of long term committed
contracts.
We have also entered into an LOI to purchase Lockwood
Technology, an innovative RFID hardware and software solutions
provider. The acquisition of Lockwood will allow us to add RFID
solutions not only to our smart grid components, but also to extend
and enhance our security offerings to utilities for access and
egress. Lockwood has a distinguished client list and has developed
security and asset tracking solutions that we intend to migrate
into the energy sector.
We continue to believe that our Secure Intelligent Energy
Platform will be a game changer in the smart grid energy
sector.
Our Commitment
As we have previously indicated we are focusing our efforts in
the following areas:
- Performance and Portfolio: We are committed to achieving
profitable growth by growing our sales and achieving our margin
targets. Strengthening our portfolio is an ongoing process that
includes continuous innovation, flexibility and may continue to
include acquisitions.
- Operational Excellence: We are committed to executing on our
plan to become a leading smart grid solutions provider. Our team is
focused on innovation, exceeding customer expectations and
competing on a global scale.
- People Excellence: We are working to create a corporate culture
of expecting excellence, delivering on the vision of adapting
quickly and effectively to changes in the marketplace. A culture
that welcomes change for the opportunity it brings. To meet this
objective we are seeking leaders and advisors from a variety of
business sectors and increasing our global talent pool.
- Corporate Responsibility: We are committed to being an active
and responsible member of every community where we do business
worldwide and we've set the goal of becoming best-in-class in
corporate governance, business practices, sustainability and
corporate citizenship.
Positioned for Further Growth
While we still face challenges, we are confident that we are
poised to make our vision a reality. As we confirmed at the recent
DistribuTECH conference, we are the only solutions provider truly
focused on providing secure communications and securing the energy
grid. We believe that the security of the grid and all of the
associated access points is a matter of national security and
global importance.
We are creating a solution set at a time of great growth and
change in the energy sector. There are significant issues facing
utilities as they begin to update their energy delivery systems,
increase their reliability and provide the consumer with more
control and visibility of their energy usage. Our Secure
Intelligent Energy Platform will change the way utilities secure
their data, communicate their information and control the demand
for energy consumption. Our platform is not simply a solution to
these issues; it is the most secure solution.
The continued growth of INFRAX Systems, along with its ecosystem
of partners, will be dependent on our ability to execute on our
vision, continue to develop secure solutions to real problems, meet
our customers' needs and provide value to our shareholders. In
other words, we must be relevant in the space that we operate
in.
I continue to be pleased with our transformation and I am
excited to be a part of a company that continues to build on its
past and look forward to a successful future.
About Infrax Systems
Infrax Systems offers a series of interrelated operational
management, communications, and grid security related products and
services known as Secure Intelligent Energy Platform (SIEP). Our
products enable a comprehensive and unified solution for
communications and applications management of the Smart Grid. SIEP™
incorporates a wide array of communications, security, device and
data management tools for Smart Grid applications such as advanced
metering solutions and grid optimization. SIEP platform creates a
unified solution to securely manage Advanced Metering
Infrastructure (AMI) and distribution automation. Infrax's secure
smart grid platform incorporates a communications transport and
management system, (GridMesh™), device and data security
management, and ultimately secures intelligent endpoint devices
(SIED). The secure management of the "last mile" backhaul will be
necessary for utilities to implement Smart Grid applications
including AMI, real-time pricing, Demand Side Management (DSM),
Distribution Monitoring and Automation. When combined, these
applications can offer economic, operational and environmental
benefits for utilities, and ultimately the utility's customers.
For INFRAX Systems information, contact Investors@Infraxinc.com
or visit www.infraxinc.com.
Forward-Looking Statements
This press release may contain forward-looking statements
covered within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements relate to,
among other things, plans and timing for the introduction or
enhancement of our services and products, statements about future
market conditions, supply and demand conditions, and other
expectations, intentions and plans contained in this press release
that are not historical fact and involve risks and uncertainties.
Our expectations regarding future revenues depend upon our ability
to develop and supply products and services that we may not produce
today and that meet defined specifications. When used in this press
release, the words "plan," "expect," "believe," and similar
expressions generally identify forward-looking statements. These
statements reflect our current expectations. They are subject to a
number of risks and uncertainties, including, but not limited to,
changes in technology and changes in pervasive markets.
Contact: Infrax Systems, Inc. investors@infraxinc.com
727-498-8514