WOODLAND PARK, N.J.,
April 30, 2019 /PRNewswire/
-- pdvWireless, Inc., (PDV) (NASDAQ: PDVW) today announced the
formation of an Industry Advisory Board (IAB) as a part of the
company's ongoing project with the Department of Energy's
(DOE) National Renewable Energy Laboratory (NREL). The DOE recently
awarded the project "high-impact" status, which is given to
projects that look to accelerate innovation in the private sector
and develop scalable technologies that satisfy the goals of the
U.S. DOE Grid Modernization Initiative (GMI).
The Industry Advisory Board is comprised of six leading
utilities that provide service across 18 states, as well as former
Chief Technology Officer of the DOE, Pete
Tseronis. The six utility members of the IAB include:
Consumers Energy, Duke Energy, Evergy, Eversource Energy, Holy
Cross Energy and Xcel Energy. The newly formed board, together with
members of PDV and NREL, held their first discussion earlier this
month during a planning workshop for the project.
Leveraging PDV's 900 MHz spectrum and NREL's Advanced
Distribution Management Systems (ADMS) test facility, the two
organizations are working to integrate a private LTE wireless
communications system into NREL's testbed to analyze current and
future use cases in a variety of network communications congestion
scenarios that accurately represent real-life challenges faced by
utility distribution systems. The analysis will be conducted at the
Energy Systems Integration Facility (ESIF) in Golden, Colorado, one of the preeminent
facilities in the National Laboratory complex.
As an independent team of industry experts, the IAB will provide
critical utility insight and advice on the study and will share
guidance on use case selection. IAB members will also help define
test scenarios that reflect the respective member's environment, as
well as have full involvement in planned laboratory demonstrations
of the combined LTE network and ADMS Testbed system at the
ESIF.
"We are proud to be collaborating with the DOE and members of
the IAB as we collectively work to address the growing critical
needs of our nation's utilities communications networks," said
Mike Brozek, Senior Vice President
of Technology for pdvWireless. "PDV is committed to
demonstrating the benefits that 900 MHz based private LTE networks
will provide when solving for current and future utility use case
needs," Brozek added.
"The insights and guidance from the members of the Industry
Advisory Board will play an important role in simulating and
evaluating the performance of telecommunications in the specific
use cases that this project hopes to validate," said Barry Mather, Group Manager of Integrated
Devices and Systems at NREL. "We look forward to working with PDV
and the IAB in understanding the full potential of benefits that
private LTE networks bring to advanced energy management systems,"
Mather added.
"The DOE's national labs have a long history in leading
innovation to impact important changes in our electric grids.
As the need for increased reliability and resiliency grows, the
grid requires a robust communications network and this project will
look to develop a solution to that," Pete
Tseronis, IAB member and former CTO of the Department of
Energy commented. "The NREL and PDV partnership represents a model
for success as they work to develop scalable technologies for
critical utility communications," Tseronis added.
NREL and PDV are expected to present initial outcomes from the
project with the U.S. Department of Energy during a meeting
currently scheduled for September
2019.
About pdvWireless, Inc.
pdvWireless, Inc. is focused on developing and offering
solutions that leverage its spectrum assets for the deployment of
next generation private broadband networks designed to meet the
needs of critical infrastructure and enterprise customers. We are
the largest holder of licensed nationwide spectrum in the 900 MHz
spectrum band throughout the contiguous United States, plus Hawaii, Alaska and Puerto
Rico. On average, we hold approximately 60% of the channels
in the Part 90 portion of the 900 MHz band in the top 20
metropolitan market areas in the United
States. We are currently pursuing a regulatory proceeding at
the Federal Communications Commission that seeks to modernize and
realign a portion of the 900 MHz band to increase its usability and
capacity and accommodate the future deployment of broadband
technologies and services. At the same time, we are expecting to
enable private broadband network solutions, leveraging our
spectrum, that address the growing and unmet needs of our targeted
critical infrastructure and enterprise customers. Our Chairman,
Brian McAuley, and CEO, Morgan O'Brien, were the co-founders of Nextel
Communications and have over 60 years of combined experience in
telecom operations and successfully developing regulatory driven
spectrum initiatives to address the unmet wireless communications
needs of businesses. pdvWireless is headquartered in Woodland Park, New
Jersey.
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. Any forward-looking statements
contained herein are based on the Company's current expectations
but 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 include, but are not
limited to: (i) the Company's spectrum initiatives, including its
FCC proceedings aimed at modernizing and realigning the 900 MHz
spectrum band to increase its usability and capacity, which
contemplates the utilization of such spectrum for the future
deployment of broadband technologies and services, may not be
successful on a timely basis or at all, and may continue to require
significant time and attention from its senior management team and
the expenditure of significant resources; (ii) the Company may not
be successful in identifying, developing and commercializing
network and mobile communication solutions utilizing its current
and future spectrum and commercially available technologies; (iii)
the Company has had net losses each year since its inception and
may not achieve or maintain profitability in the future; (iv) the
Company's ability to control the costs and to achieve the expected
operational benefits and long- term cost savings of its
restructuring plans, including the transfer of its TeamConnect and
pdvConnect businesses; (v) the wireless communications
industry is highly competitive and the Company may not be able to
compete successfully; and (vi) government regulation could
adversely affect the Company's business and prospects. These 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/A for the fiscal year
ended March 31, 2018, filed with the
SEC on August 9, 2018. Modifications
to those factors and/or additional factors are described in the
Company's Quarterly Report on Form 10-Q for the quarter ended
December 31, 2018, filed with the SEC
on February 8, 2019. 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.
Contacts
Natasha Vecchiarelli
Director of Corporate Communications
pdvWireless, Inc.
973-531-4397
nvecchiarelli@pdvwireless.com
Phil Sgro
Raffetto Herman Strategic Communications
202-585-0210
psgro@rhstrategic.com
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