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GigaBeam Announces Further Penetration Into Middle East Following Milestone Government Order for Deployment of Company's Next-Generation Wireless Technology
DURHAM, N.C. --(Business Wire)-- GigaBeam Corporation (NASDAQ:GGBM), deploying market disruptive "wireless fiber optics" technology to economic centers across the globe, announced today that it has received a purchase order for two WiFiber(R) links from a key reseller for the government of the Kingdom of Saudi Arabia. The Saudi order represents the opening of another major Middle Eastern market, including the Kingdom of Bahrain, with significant revenue potential and demand for ultra high speed access including Internet connectivity that does not require the underground digging necessary for terrestrial fiber optics.
The order further validates GigaBeam's aggressive commercialization strategy to penetrate major metropolitan areas around the world with next generation wireless technology which is able to bypass existing telecom infrastructure at speeds equal to 1,000 DSL lines. The Company expects to drive additional revenues and earnings from sales to the Middle East and North Africa region which is expected to complement the contribution from existing and projected next generation Wireless Local Exchange Carriers, similar to the recently announced orders from the Western U.S. WiLEC, One Velocity, Inc.
"GigaBeam continues to follow through on its mission to expand our footprint to every major economic center around the globe," said Louis Slaughter, Chairman and Chief Executive Officer of GigaBeam. "This purchase order which follows an extended trial of our WiFiber links by the customer is a testimonial to our product performance in a difficult climate and is also evidence that our business development efforts in the region and around the world are continuing to pay off for our shareholders."
Given the geographic and weather challenges in the Middle East, this sale further validates the robustness of GigaBeam's technology and solutions. GigaBeam's wireless technology is similar to terrestrial fiber in terms of speed and reliability and has a substantial cost and deployment advantage over terrestrial fiber. WiFiber(R) can be deployed and activated within hours and at costs significantly less to deploy than terrestrial fiber, which take months to deploy and also requires significant regulatory and environmental approvals prior to installation.
GigaBeam WiFiber products operate in the 71-76 GHz and 81-86 GHz upper millimeter wave spectrum bands. These large blocks of frequency spectrum enable the Company's WiFiber product to transmit data, voice and Video at multi-gigabit-per-second. Other frequency bands that are used for point-to-point communications, such as microwave spectrum, cannot transmit at high data rates and are limited to speeds of only a few hundred megabits-per-second due to the limited amount of available frequency.
About GigaBeam Corporation
GigaBeam's WiFiber(R) product ushers in a new era of communications by allowing customers to bypass the restrictive telecom oligopoly and connect directly to any city's fiber optics hub or Point-of-Presence (POP). The disruptive impact of an easily deployable, low cost alternative to fiber optics cables is difficult to overestimate, especially since WiFiber's point-to-point high-speed units transmit data via the highest approved radio frequency at speeds equal to 641 T1 lines or 1,000 DSL lines.
Current GigaBeam partners and customers include Google, Verizon, ING, Sprint, The Department of Defense, as well as several cities and universities such as San Francisco and Boston University. The Company has implemented an aggressive commercialization strategy to expand into major metropolitan areas around the world.
GigaBeam's visionary management team is fully committed to augmenting current revenues through a network of authorized dealers and resellers across North America, South America, Europe, Africa, the Middle East, India and Asia that have local expertise and established contacts. GigaBeam is a truly unique company with market disruptive wireless technology, a pioneering management team and a worldwide network dedicated to penetrating major metropolitan markets around the globe.
To learn more about GigaBeam's revolutionary wireless technology, please visit www.gigabeam.com/.
For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/gigabeam.
To view current stock quotes and news, visit http://www.trilogy-capital.com/tcp/gigabeam/quote.html.
To view an investor fact sheet about the company, visit http://www.trilogy-capital.com/tcp/gigabeam/factsheet.html.
Safe Harbor Statement
Statements in this press release regarding GigaBeam's products, services, capabilities, performance, opportunities, development and business outlook that are forward-looking involve and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond GigaBeam's control and difficult to predict, and could cause actual results to differ materially from these anticipated, expressed or forecasted in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: limited capital resources and continued dependence of our operations on additional financing, limited operating history, difficulties in distinguishing GigaBeam's products and services, ability to manufacture and deploy GigaBeam's products, lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, availability of raw materials, subassemblies and components, ability to meet future capital requirements on acceptable terms, continuing uncertainty in the telecommunications industry and the global economy, intense competition in the telecommunications equipment industry and resulting impact on pricing and general financial performance, compliance with federal and state regulatory requirements, timing, availability and success of new technology and product introductions and the other factors discussed in GigaBeam's filings with the Securities and Exchange Commission.
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