Foundations for Transformation
Compact of Southern States Urges Utilities to Deploy Private Broadband Networks for Grid Modernization
Encourages Leveraging Utility Communications Infrastructure for Rural Broadband Internet Service and Endorses Coordination on Spectrum and Technology for Wireless Network Interoperability
Woodland Park, NJ – October 1, 2020—Anterix (NASDAQ: ATEX) announced its support for a resolution unanimously adopted today by the Southern States Energy Board (SSEB) at its “2020 Virtual Annual Business Meeting.” SSEB, a non-profit interstate compact created by federal law and comprised of 16 southern states, as well as the U.S. Virgin Islands and Puerto Rico, expressed its support for three propositions that it and Anterix believe are critical to the future of the U.S. electric utility industry.
“As a regional organization focused on innovations in energy and policy, SSEB is highly regarded and respected,” said Anterix President & CEO Robert Schwartz. “SSEB’s explicit recognition of the importance of private broadband networks to support the modern grid is powerful and insightful, but its statements with regard to rural broadband and interoperability among private wireless networks, and the benefits expected to flow from broad utility adoption, are truly visionary. Anterix applauds SSEB’s leadership.”
Specifically, in the resolution sponsored by Representative Rocky Miller of Missouri, the SSEB:
- “encourages the region’s utilities to deploy private, cyber-secure broadband communications networks to support the … modern electric grid … ;“
- “urges the region’s utilities and Public Utility Commissions to encourage the use of infrastructure deployed for grid-management communications to also support consumer broadband services to rural homes and businesses;” and
- “encourages the region’s utilities that deploy private wireless broadband networks for grid-management communications to coordinate their planning, and Public Utility Commissions to facilitate such planning, to adopt a common spectrum band and technology for such networks to enable wireless network interoperability, increased functionality, and cost savings across the region.”
“As our utility partners delve into the many benefits of a 900 MHz private LTE broadband platform to support their grid modernization efforts, it is clear that the derived value may be exponentially enhanced with industry collaboration, to reap the significant scale and scope benefits of a comprehensive network-of-networks deployment,” said Schwartz. “SSEB recognizes the substantial importance of utility ‘middle mile’ communications infrastructure to help provide broadband internet access to rural consumers.”
At Anterix (NASDAQ: ATEX), we are focused on delivering transformative private 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 solutions that support secure, resilient and customer-controlled operations.
Any statements contained in this press release that do not describe historical facts are forward-looking statements as defined under the Federal securities laws. Any such forward-looking statements are based on Anterix’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. These risks and uncertainties and other factors that may affect Anterix’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 Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, filed with the SEC on August 6, 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, Anterix 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.
Director of Investor Relations & Corporate Communications
Executive Vice President
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