Jul 23 2007
GigaBeam Corporation, deploying market disruptive "wireless fiber optics" technology to economic centers across the globe, announced today that it has received purchase orders for 24 additional WiFiber® links from One Velocity Inc, a leading wireless telecom provider for the Western United States.
The orders further validate GigaBeam's aggressive commercialization strategy to penetrate major metropolitan areas with next generation wireless technology able to bypass existing telecom infrastructure at speeds equal to 1000 DSL lines.
The Company expects to drive additional revenues and earnings from the considerable projected growth of One Velocity's network along with the creation of next generation Wireless Local Exchange Carriers (WiLECs) around the world.
"GigaBeam is fully committed to expanding the market for our products on a worldwide scale with the ultimate goal of building significant long-term value for our shareholders," said Louis Slaughter, Chairman and Chief Executive Officer of GigaBeam. "Our growing partnership with One Velocity has proven profitable for GigaBeam as they continue to successfully build out the Las Vegas market with the strategy to open other major markets for our products across the western United States."
GigaBeam's WiFiber technology is similar to terrestrial fiber in terms of speed and reliability. WiFiber has a substantial advantage over terrestrial fiber because WiFiber can be rapidly deployed and costs less to deploy than terrestrial fiber. Terrestrial fiber can take months to deploy and also requires significant regulatory and environmental approvals prior to installation.
The network One Velocity has established is one of the fastest commercial Metro Ethernet networks in the world. Large corporations, enterprises and carriers are requiring greater and greater bandwidth solutions and the existing competitive infrastructures of incumbent carriers are incapable of meeting these needs. One Velocity's services are rapidly deployable, highly scalable, secure, reliable and broadly accessible.
"We are proud of our achievement to date of having deployed the first commercial next generation WiLEC network in the world utilizing GigaBeam's WiFiber technology," said Mike Ballard, Chairman and Chief Executive Officer of One Velocity. "I believe that this is the first such network utilizing this advanced wireless technology to provide services to multiple large customers. I expect rapid expansion of our business and anticipate deployment of many more GigaBeam WiFiber links to support this expansion."
GigaBeam WiFiber
One Velocity has deployed a approximately 30 WiFiber Links to date and has established several resilient gigabit Ethernet loops across Las Vegas providing service to more than 28 enterprise and local government customers.