No one should underestimate the significance of this NR
Edgewater Wireless chosen for UpRamp Fiterator program
2016-08-08 12:08 ET - News Release
Mr. Andrew Skafel reports
EDGEWATER WIRELESS & WIFI3 CHOSEN FOR UPRAMP FITERATOR PROGRAM; FITERATOR PROGRAM WILL CONNECT EDGEWATER WIRELESS WIFI3(TM) TECHNOLOGY TO $500 BILLION CABLE INDUSTRY AND 55 OF THE WORLD'S LEADING CABLE OPERATORS
Edgewater Wireless Systems Inc. is one of the first four entities ever to be chosen for the UpRamp (sponsored by CableLabs) Fiterator program. The program is designed to open the door and connect WiFi3 technology to 55 of the world's leading cable operators.
The UpRamp Fiterator program is designed to accelerate companies that have already built their technology. This exclusive program will focus on assisting Edgewater Wireless to establish product and market fit in the $500-billion cable industry. The Fiterator program also guarantees commercial deals with cable operators utilizing WiFi3 technology to solve evolving issues for Wi-Fi connectivity in the cable industry. Edgewater Wireless was judged and selected by senior industry leaders -- including chief executive officer and chief technology officers of some of the largest cable operators in the world.
Edgewater Wireless WiFi3 technology is designed to solve critical issues for Wi-Fi and wireless networks -- interference and high density. WiFi3 is the only wireless technology in the world to offer multiple, concurrent channels of transmit and receive from a single Wi-Fi radio. Edgewater's next-generation wireless technology is positioned to revolutionize wireless network design and deployment beyond the unlicensed wireless spectrum through to OFDM (orthogonal frequency-division multiplexing) applications and 5G. WiFi3 is backed by over 24 patents and offers a suite of access point products, as well as OEM (original equipment manufacturer) licensing opportunities for select partners.
"Fiterator concentrates on small cohorts of early-stage companies to give them the biggest possible impact," said Scott Brown, managing director of the CableLabs UpRamp program. "UpRamp conducted a global search and review of forward-thinking technology companies we believe will provide tremendous value to the cable industry. Edgewater Wireless is doing something truly innovative in Wi-Fi hardware and will provide innovative solutions for the $500-billion cable industry.
Edgewater's WiFi3-powered technology is the best Wi-Fi solution for carriers, service providers and systems integrators to address the evolving issues of interference, capacity and high density, which is stretching Wi-Fi to its breaking point. Edgewater's patented technology solves the high-density problem while also significantly reducing the equipment investment and operating costs for new network deployments.
"This is truly an exciting time for our company and a tremendous validation that WiFi3 technology can solve significant issues in Wi-Fi and wireless networks," said Andrew Skafel, president and chief executive officer at Edgewater Wireless "We are looking forward to working with the team at UpRamp to introduce and engage WiFi3 technology with cable operators around the world."
UpRamp was founded to skillfully connect start-ups and cable operators in order to amplify innovation that improves people's experience with cable. This is a new kind of accelerator for later-stage emerging technology companies, designed to amplify start-up success by guiding them to the world's largest and most powerful broadband network. UpRamp was built to fill the gap between a start-up's time in a classic start-up accelerator and its ability to scale a business for the massive cable and broadband industry.
The UpRamp Fiterator program elements Edgewater Wireless will be leveraging to progress opportunities in the cable industry:
- CableLabs summer 2016 conference;
- CableLabs winter 2017 conference;
- Three-month Fiterator program with UpRamp covering all program and associated costs;
- Access to C-level mentorship from CableLabs members and industry-recognized members;
- Access to state-of-the-art Kyrio labs for testing and compliance;
- Introduction to CableLabs members' associated venture capital firms;
- Access to CableLabs extensive patent portfolio, as well as a one-year membership in Unified patents;
- Most importantly, expediting the introduction to CableLabs members and shortened development life cycle of products specifically for the $500-billion cable industry.
As part of the Fiterator program and in recognition of the tremendous contribution by UpRamp, Edgewater Wireless will issue, subject to TSX Venture Exchange approval, 3,021,027 shares, or roughly 2.1 per cent of shares outstanding, in the form of warrants at 37.5 cents per share with a forced conversion if shares trade above 45 cents for 10 days (subject to exchange approval).
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