MCLEAN, Va., April 20, 2017 (GLOBE NEWSWIRE) -- Iridium Communications (NASDAQ:IRDM) announced today its new partnership with Lindsey Manufacturing, a pioneer in Emergency Restoration Systems (ERS), Transmission Line Monitors (TLM) and Dynamic Line Rating (DLR) technologies for major transmission utility companies. This unique partnership expands Iridium's footprint in the transmission utility day-ahead-power-transfer capacity market, by integrating satellite communications with transmission line analytic solutions.
Lindsey Manufacturing specializes in power line conductor behavior monitoring, which typically relies on cellular connectivity. Their new software solution, called SMARTLINE, enhances traditional DLR methods for utility companies by enabling more reliable and accurate measurement capabilities and better managing power line capacity to maximize the power grid. They do this through leveraging the Iridium® network and integrating their advanced software and technology directly with an Iridium 9603 modem. The integrated device is then attached to the energized, extremely high voltage conductor and can store all collected data in a cloud-based site and/or on a company's server. The kinds of electric line data the software can provide are 24-hour and two-hour look-ahead load capacity, 99-percent accurate forecasting capabilities, conductor temperature, and conductor clearance to ground data points. Utilities using SMARTLINE DLR technology will have access to these capabilities and data for transmission lines located anywhere on the planet, including remote areas where communication infrastructure is typically compromised or largely unavailable.
"For us, partnering with Iridium was an easy choice," said Philip Spillane, vice president of marketing at Lindsey Manufacturing. "We are looking to change the way utility companies leverage the power grid, and to do that, we need to have absolute confidence that our technology can work globally and reliably, and the only way to ensure that is with Iridium. Their network provides us with reliable service, every time."
The first SMARTLINE DLR system was installed with Hydro Quebec, a major hydropower utility for that region. Iridium and Lindsey Manufacturing both anticipate that this technology has the potential for global installation, drastically improving and streamlining the way utilities operate and use the power grid today.
"Iridium is excited to work with such an innovative thought leader in the utilities space," said Tim Last, vice president and general manager of Iridium's IoT line of business. "We view this agreement as a ground-breaking opportunity and look forward to further expanding our efforts in this industry by enabling solutions that maximize and build efficiencies across the worldwide power grid."
Iridium is currently in the process of replacing its existing global low Earth orbit (LEO) satellite network with 66 new satellites, known as Iridium NEXT. A network replacement of this scale is unprecedented, and Iridium NEXT has been coined one of the largest "tech refreshes" in history. The first 10 Iridium NEXT satellites were successfully launched by SpaceX on its Falcon 9 rocket on January 14th. On February 23rd, the Company announced that the first Iridium NEXT satellite became operational, providing voice and data services to Iridium's customers with the existing constellation. Iridium NEXT is backwards compatible with existing devices, meaning it will support the existing services operating on the network throughout the transition to Iridium NEXT.
For more information about Iridium's IoT products and services, please visit https://www.iridium.com/solutions/m2m. For additional details and updates about the Iridium NEXT program, go to www.iridiumnext.com.
About Iridium Communications Inc.
Iridium is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. The company has a major development program underway for its next-generation network — Iridium NEXT. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the NASDAQ Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com.
Forward Looking Statements
Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this presentation include statements regarding the capabilities of new products, and the timing for deployment, development and capabilities of the Iridium NEXT constellation and services to be offered over the constellation. Forward-looking statements can be identified by the words "anticipates," "may," "can," "believes," "expects," "projects," "intends," "likely," "will," "to be" and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding potential delays in the Iridium NEXT deployment, the development and functionality of Iridium NEXT and related services, and the company's ability to maintain the health, capacity and content of its satellite constellation, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2016, filed with the Securities and Exchange Commission (the "SEC") on February 23, 2017, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium's expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium's underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium's forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.
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