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GigaBeam Announces Initial Purchase Order Following Recent Joint Venture Agreement Between Affiliate GalactaCOM and Mattera Group
DURHAM, N.C. --(Business Wire)-- GigaBeam Corporation (NASDAQ:GGBM), deploying WiFiber(R) "wireless fiber optics" technology to economic centers across the globe, announced today that it has received a purchase order for in excess of $365,000 from Mattera Asset Management, Inc. for deployment in Puerto Rico and the Dominican Republic. The order further validates GalactaCOM's recently signed Letter of Intent with Mattera to form a joint venture to launch next generation telecommunications carriers in Puerto Rico and the Dominican Republic.
Mattera has received exclusivity for the deployment of GigaBeam WiFiber wireless fiber links for both Puerto Rico and the Dominican Republic. The terms of the Letter of Intent provide for the deployment of a minimum of 200 WiFiber links between San Juan and Santo Domingo during the first year following formal launch of the Joint Venture.
"We are very excited about receiving the first purchase order from Mattera for the Joint Venture between GalactaCOM and Mattera, which we believe will provide significant growth opportunities for GigaBeam in the years to come," said Louis Slaughter, Chairman and Chief Executive Officer of GigaBeam. "Puerto Rico and the Dominican Republic are exemplary of the emerging markets that GigaBeam intends to continue targeting."
GigaBeam's WiFiber technology is similar to terrestrial fiber in terms of speed and reliability. WiFiber has a substantial advantage over terrestrial fiber because WiFiber can be more rapidly and economically deployed than terrestrial fiber. In addition, terrestrial fiber requires significant regulatory and environmental approvals prior to installation. In contrast, licensing approval for the WiFiber product typically takes about a half an hour, because it is a web-based process, and the costs are nominal: in the U.S. there is a one time fee of $700 to operate in the spectrum and thereafter $75 for each point-to-point license, which has a ten year term. Similar arrangements are being replicated internationally.
GigaBeam WiFiber products operate in the 71-76 GHz and 81-86 GHz upper millimeter wave spectrum bands. The Federal Communications Commission and the European Conference of Postal and Telecommunications Administrations (CEPT) and certain other countries have authorized this portion of the spectrum for licensed wireless commercial use.
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 647 T1 lines or 1,000 DSL lines.
Current GigaBeam partners, customers and end users include Google, Sprint, The Department of Defense, as well as several cities and universities including San Francisco and Boston University. The Company is implementing strategies to expand into major metropolitan areas around the world.
GigaBeam's management team, which pioneered rule making in the 70GHz and 80GHz spectrum, 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 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. GigaBeam does not intend to update the statements in this press release to conform to actual results unless required by law.
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