Edgewater Wireless Provides 2023 Corporate and Strategic Update
Company details its 2023 growth strategy and updates on major Tier 1 Service Provider engagements
OTTAWA, Ontario, February 07, 2023--(BUSINESS WIRE)--Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF) ("Edgewater" or the "Company"), the industry leader in Wi-Fi Spectrum Slicing technology for residential and enterprise markets, is pleased to provide a corporate and operational update along with its strategic outlook for 2023.
"Last year, the global Wi-Fi industry at large finally acknowledged the elephant in the room – that one channel of Wi-Fi is not enough!" said Andrew Skafel, Edgewater President and CEO. "The accelerated shift to WiFi7, and the introduction of its marquee feature, MLO (Multi-Link Operation), marks a strong endorsement of Edgewater’s Spectrum Slicing architecture. The adoption of the new standard, plus the growing chorus of vendors and service providers acknowledging the limitations of legacy single-channel Wi-Fi, is increasing the tempo of our commercial engagements with major Tier-1 providers and select OEM/ODMs."
Corporate Objectives for 2023:
Short-Term Objectives (3-12 Months)
Establish Edgewater’s Spectrum Slicing technology as an essential feature for residential and enterprise Wi-Fi (additional validation from Tier 1 Service providers, OEM/ODMs and industry organizations)
New Product Launch - finalize engineering design of next-generation Spectrum Slicing enabled WiFi7 silicon solutions and further expand the patent portfolio,
Commercial engagement(s) with additional Tier-1 Service Providers, OEMs and ODMs
Execute on engineering, sales, media awareness and capital markets initiatives to establish a strong foundation focused on scaling the production of Edgewater’s silicon solutions
Medium-Term Objectives (12-24 Months)
Focus on IP Licensing and silicon solutions monetization
Expand the geographic reach of Tier-1 partnerships
Explore M&A opportunities to add additional feature capabilities
Long-Term Objectives (24 plus Months)
Revenue and production growth
Industry Recognition of Spectrum Slicing
Multi-Link Operation ("MLO") is synonymous with Multi-Channel Wi-Fi. Moreover, it is also very closely akin to Dual Channel Wi-Fi, a technology that Edgewater Wireless co-developed with CableLabs years ago. Dual Channel Wi-Fi was the first Wi-Fi technology to leverage the Multi-Channel/Link capabilities of Spectrum Slicing and show its significant advantages. MLO is the standardization of using more than one Wi-Fi channel (or link) to deliver data over Wi-Fi to a multi-link capable device. With this one stroke of standardization, the IEEE and the Wi-Fi industry at large have set the table for the use of more than one channel/link of Wi-Fi to dominate the Wi-Fi landscape of the future. Spectrum Slicing boasts the highest channel density in the industry and will continue to innovate in all available Wi-Fi spectrum in the future.
Eric Smith, VP of Product for Edgewater Wireless, stated, "While MLO is an exciting feature for new devices, the industry can no longer ignore the 20 billion existing Wi-Fi devices (and growing). Consumers are tired of the rip-and-replace mentality and are not interested in replacing every legacy device in their home to adapt to newer Wi-Fi standards which hold little or no value to the existing device. Faced with increased customer care costs, Service Providers with massive installed bases are increasingly wary of silicon vendors’ promises of massive performance gains. Historically, gains have failed to materialize in the average home or enterprise due to contention, interference, and the capabilities of the installed base of devices."
Spectrum Slicing Essential for Better Wi-Fi
As proven in the large-scale Proof of Concept ("PoC") and subsequent Pilot with a major Tier-1 Service Provider, the benefits of Spectrum Slicing are real and meaningful for over 90% of homes. Edgewater’s PoC demonstrated that 75% of today’s homes would see a throughput benefit 7-18 times greater with Wi-Fi Spectrum Slicing and energized Edgewater’s efforts to drive Spectrum Slicing technology into the global residential Wi-Fi market.
The Company’s successful Pilot, where real-world test results on its ‘beta’ silicon mirrored the PoC results, delivered:
50% improvement to latency, driving deeper technical discussions on the benefits of Wi-Fi Spectrum Slicing in the home with additional high-level industry players,
8 times or greater increase in the available links with Spectrum Slicing,
300% more efficient, or greater, in MLO applications vs legacy single-channel architectures.
"Edgewater has benefited from working hand-in-hand with some of the biggest players in the industry, working to understand their challenges while crafting the best product for the residential and enterprise markets," stated Andrew Skafel. "2023 is poised to be an exciting year for Edgewater, as market dynamics align with our value proposition and an increasing number of vendors and service providers share the shortcomings of legacy, single-channel Wi-Fi architectures."
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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 Spectrum Slicing 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.
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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Andrew Skafel, President and CEO
Bill Mitoulas, Investor Relations