Next-Generation Wi-Fi Solutions Expanding on Industrial Internet of Things (IIOT) Applications

OTTAWA, Ontario--(BUSINESS WIRE)--Jul. 9, 2024-- Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF), the industry leader in Wi-Fi Spectrum Slicing technology for residential and enterprise markets, is pleased to announce the signing of a Letter of Intent (the “LOI”) with Wesley Clover Services Europe (“WCS Europe”). The LOI contemplates the provision of Edgewater’s next-generation Wi-Fi Spectrum Slicing powered access point solutions for a wide range of enterprise applications, including Industrial Internet of Things (IIoT) applications.

The LOI builds on an earlier established and expanded distribution agreement between the Company and WCS Europe and follows a successful pilot and field deployment in a ground-breaking IIoT application.

Initial deliveries of Edgewater’s next-generation Wi-Fi Spectrum Slicing powered access point solutions totalling approximately $400,000 are planned for later this calendar year (subject to final commercial terms).

“We are thrilled with the commercial progress WCS Europe has developed, and we are looking forward to further strengthening our partnership as they expand our addressable market to include Industrial Internet of Things applications,” said Andrew Skafel, President and CEO of Edgewater Wireless. “In challenging RF environments where legacy, single-channel Wi-Fi solutions struggle to deliver even baseline performance, the need for multi-channel/link solutions is growing beyond our initial target application(s) of home and enterprise Wi-Fi.”

“Edgewater’s Wi-Fi Spectrum Slicing technology clearly addresses a business driver in the IIoT space where an increasing reliance on Wi-Fi to provide industrial automation and control requires a robust, low latency Wi-Fi connection,” said Lionel Hovsepain, President of Wesley Clover Services Europe.

The LOI is subject to, amongst other things, the execution of a definitive purchase agreement and project financing.

About WCS Europe

WCS Europe facilitates the digital transformation of businesses. WCS Europe focus on the key challenges of digital transformation that are based on business processes, staff mobility, customer relationship and experience, enterprise data leveraging, and the security and agility of its information system. All the WCS Europe solutions aim to promote new uses to increase productivity and business growth.

For further information, please visit https://eu.wcs.global/en/

About Edgewater Wireless

We make Wi-Fi. Better.

Edgewater Wireless (www.edgewaterwireless.com) is the industry leader in innovative Spectrum Slicing technology for residential and commercial markets. We develop advanced Wi-Fi silicon solutions, Access Points, and IP licensing designed to meet the high-density and high quality-of-service needs of service providers and their customers. With 26 granted patents, Edgewater’s Multi-Channel, Single Radio (MCSR) technology revolutionizes Wi-Fi, delivering next-generation Wi-Fi today.

Edgewater’s physical layer Spectrum Slicing allows a frequency band to be divided, or sliced, to enable more radios to operate in a given area. Think of SpectrumSlicing like moving from a single-lane road to a multi-lane highway — regardless of Wi-Fi technology. The recently completed Proof of Concept (PoC) with a major Tier 1 Service Provider showed 7 to 18 times performance gains in 75% of homes surveyed. Interestingly, homes with the most devices saw the greatest improvements.

For more information, visit www.edgewaterwireless.com.

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. Although Edgewater Wireless believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Edgewater Wireless can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause Edgewater Wireless’ actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to access to capital markets, market forces, competition from new and existing companies and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. Edgewater Wireless undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20240627877884/en/

Edgewater Wireless Contacts:
Andrew Skafel, President and CEO
E: andrews@edgewaterwireless.com

Bill Mitoulas, Investor Relations
E: ir@edgewaterwireless.com
T: +1.416.479.9547

www.edgewaterwireless.com

Source: Edgewater Wireless Systems Inc.