WOODLAND PARK, N.J.,
June 26,
2024 /PRNewswire/ -- Anterix (NASDAQ: ATEX) announced
today that it has entered into an agreement with Oncor Electric
Delivery Company LLC ("Oncor") under which Oncor will acquire 900
MHz broadband spectrum from Anterix necessary to deploy a private
wireless broadband network throughout its service territory.
The new licenses will enable Oncor to move to next generation
broadband for mission-critical data and voice services within Oncor
across its service territory. The network will provide a host of
capabilities that are expected to benefit Oncor and its customers,
including enhanced resiliency, data transmission, and overall
communication and operational intelligence.
Headquartered in Dallas, Oncor
is a regulated electricity transmission and distribution business
that uses superior asset management skills to provide reliable
electricity delivery to consumers. Oncor operates the largest
transmission and distribution system in Texas, delivering electricity to more than 4
million homes and businesses across a distribution service
territory that has an estimated population of approximately 13
million and operating more than 143,000 circuit miles of
transmission and distribution lines in Texas.
"Oncor is an exciting customer for Anterix," said Rob Schwartz, Anterix's President & Chief
Executive Officer. "Not only does this agreement address
another 'complex system,' but it also adds another utility to our
nationwide network of utility networks. This agreement
highlights the benefits of private LTE. We look forward to working
with Oncor and other Texas
utilities to support energy resilience and reliability in the ERCOT
market."
For additional information about the Anterix-Oncor agreement,
see the Anterix-Oncor Agreement Fact Sheet in the investor
information section of Anterix's website.
Shareholder Contact
Natasha Vecchiarelli
Vice President, Investor Relations & Corporate
Communications
Anterix
973-531-4397
nvecchiarelli@anterix.com
Media Contact
Paul Gaige
Vice President
Hill+Knowlton Strategies
504-957-1434
Paul.Gaige@hillandknowlton.com
About Anterix
At Anterix, we partner with leading utilities and technology
companies to harness the power of 900 MHz broadband for modernized
grid solutions. Leading an ecosystem of more than 100 members, we
offer utility-first solutions to modernize the grid and solve the
challenges that utilities are facing today. As the largest holder
of licensed spectrum in the 900 MHz band (896-901/935-940 MHz)
throughout the contiguous United
States, plus Alaska,
Hawaii, and Puerto Rico, we are uniquely positioned to
enable private wireless broadband solutions that support
cutting-edge advanced communications capabilities for a cleaner,
safer, and more secure energy future. To learn more and join the
900 MHz movement, please visit www.anterix.com.
Forward-Looking Statements
Certain statements contained in this press release, other than
historical information, constitute forward-looking statements
within the meaning of the federal securities laws. Words such as
"believes," "anticipates," "estimates," "expects," "intends,"
"aims," "potential," "will," "would," "could," "considered,"
"likely," "estimate" and variations of these words and similar
future or conditional expressions are intended to identify
forward-looking statements but are not the exclusive means of
identifying such statements. Forward-looking statements include,
but are not limited to, statements regarding: (i) the timing of
payments under Oncor's agreement with Anterix to acquire 900 MHz
broadband spectrum, (ii) Anterix's ability to negotiate and enter
into agreements with incumbents to clear the 900 MHz broadband
spectrum allocation in Oncor's service areas on a timely basis and
on commercially reasonable terms; (iii) Anterix's ability to
qualify for and timely secure broadband licenses in Oncor's service
areas; and (iv) Anterix's ability to satisfy the other terms of its
agreement with Oncor. Any such forward-looking statements are based
on the current expectations of Anterix's management and are subject
to a number of risks and uncertainties that could cause Anterix's
actual future results to differ materially from its management's
current expectations or those implied by the forward-looking
statements. These risks and uncertainties include, but are not
limited to: (i) Anterix may not be successful in commercializing
its spectrum assets to its targeted utility and critical
infrastructure customers on a timely basis and on favorable terms;
(ii) Anterix may be unable to secure broadband licenses from the
FCC on a timely and cost-effective basis; (iii) Anterix has a
limited operating history with its current 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; and (iv) the value of Anterix's spectrum
assets may fluctuate significantly based on supply and demand, as
well as technical and regulatory changes. These and other risk
factors that may affect Anterix's future results of operations are
identified and described in more detail in Anterix's most recent
filings on Forms 10-K and 10-Q and in other filings that it makes
with the SEC from time to time. These documents are available on
Anterix's website at www.anterix.com under the Investor Relations
section and on the SEC's website at www.sec.gov. Accordingly, you
should not rely upon forward-looking statements as predictions of
future events. Except as required by applicable law, Anterix
undertakes no obligation to update publicly or revise any
forward-looking statements contained herein, whether as a result of
any new information, future events, changed circumstances or
otherwise.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/oncor-joins-the-900-mhz-private-wireless-networks-movement-with-anterix-spectrum-agreement-302183696.html
SOURCE Anterix Inc.