8 November 2021

Allied Minds

Portfolio company update: Federated Wireless accelerates leadership in shared spectrum market

Allied Minds plc (LSE: ALM, "the Group"), the IP commercialisation company focused on early stage company development within the technology sector, notes that portfolio company Federated Wireless, Inc., ('Federated'), the industry leader in enterprise shared spectrum 5G private wireless, has issued the update below:

Federated Wireless Accelerates Leadership in Shared Spectrum Market

Significant milestones reached in past 12 months, including high-profile vertical deployments and reaching more than 200 customers plus 70,000 active CBRS devices, illustrate solid traction and bright future for the entire market

ARLINGTON, Va., Nov. 04, 2021 - Federated Wireless, shared spectrum and private wireless network pioneer, has driven a number of significant advancements in the past 12 months. The company currently has more than 200 customers, with 70,000 devices deployed, which together indicate strong momentum for the entire market segment. These include the launch of the secondary CBRS spectrum market via its Spectrum Exchange; significant deployments of a dedicated CBRS network for IoT research at Fort Carson, Colo. and another for modernization of the Marine Corps Logistics Command warehouse operations in Albany, Ga.; along with deployment of the first CBRS networks in Puerto Rico and the U.S Virgin Islands, delivering service to the region's Wireless Internet Service Providers (WISPs) and Mobile Network Operators (MNOs). The last year has seen its customer and partner base expand rapidly into new verticals and the number of active CBRS devices grow to more than 70,000.

"The CBRS market is growing fast and helping answer the need for additional spectrum across a variety of use cases," said Kevin Hasley, CEO of RootMetrics. "And it is having an impact at a critical juncture. Few could have anticipated just how quickly and steadily device densities, application bandwidth needs, and rural connectivity requirements have accelerated over the last few years. Our testing of mobile operators shows that CBRS brings significant performance improvements for carriers who have used it to enhance the spectrum they have available in markets across the US. Ultimately, CBRS will help improve connectivity not just for service providers but stands to bring benefits to consumers, businesses, and the industry itself."

"We are extremely pleased with both the growth of the sector and Federated Wireless' leadership in it and are proud to have realized the potential of shared spectrum, the technology and the company," said Iyad Tarazi, CEO of Federated Wireless. "We think this is only the tip of the iceberg as we continue to lead the industry forward with innovative thinking, a rapidly growing ecosystem and a strong base of customers spanning multiple industries."

Long History of Market Leadership
The CBRS market leader, Federated Wireless was the first to launch a commercial spectrum access system (SAS) and environmental sensing capability (ESC) network, which have been deployed across several vertical markets with numerous use cases. The company currently has more than 200 customers with 70k+ connected devices across the United States and overseas. Its customer base includes electric co-ops; large interstate gas and electric; oil refineries; commercial and federal enterprises, and tier one Mobile Network Operators (MNOs), including Verizon Wireless nationwide CBRS 4G and 5G. Additional deployments include tier one cable operators and tower companies; and more than 100 Wireless Internet Service Providers (WISPs).

"The last 12 months have seen strong growth in interest, traction and innovation from Federated Wireless, the FCC and other players in the market as we work together to build what promises to be the single most significant contributor to US 5G leadership," said Tarazi. "I would like to thank our customers, our partners and our investors as we head into what promises to be another record-shattering year for CBRS, shared spectrum and private 5G."

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About Allied Minds

Allied Minds plc is an IP commercialisation company focused on early stage company development within the technology sector. With origination relationships that span US federal laboratories, universities, and leading US corporations, Allied Minds historically created, and now operates and funds, a portfolio of companies to generate long-term value for its investors and stakeholders.  Based in Boston, Allied Minds supports its businesses with capital, management, expertise and shared services.  For more information, please visit www.alliedminds.com.

About Federated Wireless
Founded in 2012, Federated Wireless has long led the industry in development of shared spectrum CBRS capabilities. The company's partner ecosystem includes more than 40 device manufacturers and edge partners, all of which are dedicated to collaboration to advance development and proliferation of CBRS services. Federated Wireless' customer base includes companies spanning the telecommunications, energy, hospitality, education, retail, office space, municipal and residential verticals, with use cases ranging from network densification and mobile offload to Private 4G/5G and Industrial IoT. For more information, visit: www.federatedwireless.com.

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