MCLEAN, Va., Jan. 13, 2020 /PRNewswire/ -- Iridium Communications Inc. (NASDAQ: IRDM) announced that on December 19, 2019 a Letter of Compliance was signed by the International Mobile Satellite Organization (IMSO), stating it has positively verified the operational and technical requirements as requested by the Maritime Safety Committee (MSC) of the International Maritime Organization (IMO) for Iridium to provide Global Maritime Distress and Safety System (GMDSS) service. The Letter of Compliance was formally presented to Iridium CEO Matt Desch by the Director General of IMSO, Captain Moin Ahmed, during a ceremony at Iridium's headquarters on the morning of January 13, 2020. The issuance of the letter formally authorizes Iridium to now provide satellite GMDSS service, bringing truly global coverage and a choice of both network and equipment to this critical emergency service for the first time.
GMDSS is a safety of life system that helps rescue mariners in emergency situations while at sea. IMSO serves as regulator for the system, which is partially comprised of satellite networks that transmit distress information to rescue coordination centers around the world, in addition to the dissemination of navigational and meteorological data to vessels at sea.
"This is a historic moment for public safety in the maritime community globally. The addition of new providers, such as Iridium, for GMDSS services can help to create safer seas for all mariners," said Captain Moin Ahmed, Director General of IMSO.
Captain Ahmed continued, "Since the inception of GMDSS by the IMO in 1999, a new mobile satellite system, the Iridium® network, has now completed a thorough evaluation to become a recognized mobile satellite system in the GMDSS. Recognition of Iridium marks the start of a new era in GMDSS and enhances the integrity and global coverage of safety services for seafarers across the world, including in the polar regions. The evaluation of Iridium took more than four years, and at various stages the Company successfully demonstrated its capability to comply with the requirements for satellite communication services for maritime safety."
Concluding his remarks, Captain Ahmed stated, "I am pleased to issue Iridium the 'Letter of Compliance' that officially makes the company the second recognized mobile satellite system in the GMDSS. My organization and I take this opportunity to congratulate Iridium management and everyone in the company for their commitment and contribution to the safety of mariners and their passengers at sea. We look forward to continuing to work with Iridium."
Iridium's GMDSS service is bringing many new capabilities to the maritime industry, including extending this critical service to the growing number of ships in the waters of the Arctic and Antarctica, otherwise known as Sea Area A4. The new Iridium GMDSS terminals will combine the key three GMDSS services - distress alert, distress voice and Maritime Safety Information – all in one truly global compact terminal. These terminals can provide both normal and emergency communications, including Ship Security Alert System (SSAS), Anti-Piracy/Citadel Communications, and Long-Range Identification and Tracking (LRIT). All of this will be provided in a cost-effective way, making the terminals more affordable for all sizes of vessels, including those that are not required to be GMDSS equipped, such as smaller fishing boats and yachts, but want to take advantage of this invaluable service.
"This is a monumental achievement for Iridium, and one that took years of hard work and dedication. The maritime industry is recognizing that our network possesses the unique ability to make GMDSS an even more robust system and extend its coverage to the entire planet," said Iridium CEO, Matt Desch. "We are dedicated to keep finding innovative new ways to facilitate safer marine travel."
Iridium formally began the process to become a recognized GMDSS satellite service provider in 2013, with recognition of the Iridium network meeting all criteria required by the IMO's MSC in May of 2018. In April of 2019, Iridium announced the signing of a Public Services Agreement with IMSO, which details the conditions for IMSO to act as regulator and maintain oversight of Iridium's GMDSS services. This was followed by two additional announcements, one unveiling the first ever Iridium GMDSS terminal, and the second announcing the initial seven GMDSS service providers for the Iridium network. Iridium now continues to work with its partners around the world towards rolling out its truly global GMDSS service throughout the first half of 2020.
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 recently completed its next-generation satellite network and launched its new specialty broadband service, Iridium Certus®. 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 press release include statements regarding the timing of introduction, capabilities and benefits of Iridium GMDSS service. 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 the development and functionality of Iridium 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, 2018, filed with the Securities and Exchange Commission (the "SEC") on February 28, 2019, 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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