OTTAWA, Ontario--(BUSINESS WIRE)--Edgewater Wireless Systems Inc. (YFI: TSX.V) (OTCQB: KPIFF), the industry leader in Wi-Fi Spectrum Slicing technology for residential and enterprise markets, is pleased to provide an operational and corporate update related to some notable milestones achieved in the first half of 2021.
First Proof of Concept Completed, More in Pipeline
The first Proof of Concept (PoC) that began in late 2020, and was successfully completed in March 2021, was with a major Tier 1 Service Provider that focused on 6-million devices in 750,000 homes and clearly illustrated a need for Spectrum Slicing. Results from that recently completed PoC showed 7 to 18 times performance gains in 75% of homes surveyed. The results further validate Edgewater’s physical layer Spectrum Slicing technology, which allows a frequency band to be divided, or sliced, to enable more radios to operate in a given area. The Company is in discussions with additional Tier 1 Service Provider candidates to begin further, new PoC’s with separate mandates, goals and specifications.
“The results of our first PoC have been reviewed by other Tier 1 Service Providers and potential industry partners who have shown a strong and genuine interest in understanding the benefits of Spectrum Slicing on their networks and products. We look forward to adding additional PoC’s with new Service Providers”, stated Andrew Skafel, President and CEO of Edgewater.
Commercial Pilot Project
Building on the successful PoC, Edgewater’s top priority is to move through the pilot stage, or physical test phase – working directly with the Tier 1 Service Provider to take Edgewater’s Spectrum Slicing product through further extensive lab testing. This milestone of physical testing of Spectrum Slicing gives Edgewater a platform to prove how better performance can be achieved by using spectrum more efficiently. More importantly, it will showcase the benefits of its “multi-lane highway” over the legacy “single lane road” approach. The Company has strengthened its team to efficiently support the pilot project and complete this next critical milestone.
“On the commercial side, the first PoC results, which have recently been shared by the Tier 1 Service Provider in a closed industry forum, and further highlighted at a recent industry event, have generated significant in-bound service provider and large enterprise interest. We are building and capturing strong momentum in proving that Spectrum Slicing can benefit 75% of homes (or businesses) with other Service Providers, generating demand for our silicon and the licensing of our IP. As service providers continue to search for better Wi-Fi, we believe Edgewater’s Spectrum Slicing technology is well-positioned to deliver next-generation performance”, stated Brian Imrie, Chairman of Edgewater.
Global Silicon Production Dynamics
Global silicon supply chain delays and challenges have become part of an almost daily industry dialogue. Silicon production, or lack of, has undoubtedly come to the forefront as a widespread issue, and the pandemic has highlighted the underinvestment in silicon production globally. Shortages in semiconductors are widespread for everything from vehicles to iPad’s. As an emerging fabless semiconductor and IP player, Edgewater Wireless is creating an ecosystem of world-class partners to build the necessary chipsets at scale — an integral part of the Company’s growth strategy.
Silicon Partnerships and Alliances
An integral part of Edgewater’s growth strategy is building an ecosystem of world-class silicon partnerships. The Company has been actively building alliances with several potential silicon partners to strengthen its move to capture the volume market for Spectrum Slicing. Aligning Edgewater with established and trusted volume players will help build the foundation for the Company to achieve its required production scale. Edgewater anticipates a timetable for volume silicon chipset production (i.e. 5M+ units) to be approximately 18-24 months, aligning with the Service Provider opportunities. The Company will continue to look at creative ways to fund growth and M&A opportunities. Additional updates related to partnerships and alliances are anticipated to be provided in early fall 2021.
The WBA selected Edgewater Wireless to participate in the Wireless Global Congress 2021; Wi-Fi Powering Innovation Series. Edgewater’s President and CEO, Andrew Skafel, joined a distinguished group of Wi-Fi industry thought leaders from Comcast, Airties and Plume in a Roundtable Panel Discussion, focused on the challenges faced by Service Providers and Enterprises supporting countless devices. Edgewater’s highly differentiated Spectrum Slicing approach was the only solution increasing physical (PHY) level capacity, which is essential for supporting more devices.
The event was hosted by the Wireless Broadband Alliance (WBA), a global organization of some of the world’s largest broadband and mobile providers and related tech companies, including Cisco, Microsoft, Google and Intel. The organization was founded in 2003 to resolve business issues and enable collaborative opportunities for service providers, enterprises and cities, enabling them to enhance the customer experience of Wi-Fi and significant adjacent technologies.
Board of Directors and Investor Relations Additions
Edgewater Wireless added a new Board Member to its team, Mr. Ralph Garcea. He accepted the Company’s invitation to join its Board of Directors and received shareholder approval at the Edgewater Wireless AGM on June 16, 2021. Mr. Garcea brings an accomplished technology and capital markets background, with more than 22-years of experience in senior positions at major and boutique investment dealers in the US and Canada. Mr. Garcea was a top-ranked research analyst specializing in technology, gaming and industrial companies. Mr. Garcea is the Managing Partner and co-founder of Focus Merchant Group, a boutique advisory firm offering a full range of financial advisory services. In addition to Edgewater Wireless, he currently serves as a Director on the board of TSX-listed Converge Technology Solutions Corp. (TSX: CTS) (FSE: 0ZB) (OTCQX: CTSDF). The Company also engaged the services of Toronto-based investor relations firm, Venture North Capital, to improve Edgewater Wireless’s communications efforts to existing and prospective retail and institutional investors across Canada and the US.
About Edgewater Wireless
We make Wi-Fi. Better.
Edgewater Wireless (www.edgewaterwireless.com) is the industry leader in innovative Spectrum Slicing technology for residential and commercial markets. We develop advanced Wi-Fi silicon solutions, Access Points, and IP licensing designed to meet the high-density and high quality-of-service needs of service providers and their customers. With 24+ patents, Edgewater’s Multi-Channel, Single Radio (MCSR) technology revolutionizes Wi-Fi, delivering next-generation Wi-Fi today.
Edgewater’s physical layer Spectrum Slicing allows a frequency band to be divided, or sliced, to enable more radios to operate in a given area. Think of Spectrum Slicing like moving from a single-lane road to a multi-lane highway — regardless of Wi-Fi technology. The recently completed Proof of Concept (PoC) with a major Tier 1 Service Provider showed 7 to 18 times performance gains in 75% of homes surveyed. Interestingly, homes with the most devices saw the most significant improvements.
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. Although Edgewater Wireless believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward- looking statements and information because Edgewater Wireless can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause Edgewater Wireless’ actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to access to capital markets, market forces, competition from new and existing companies and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. Edgewater Wireless undertakes no obligation to update publicly or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by law.
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