Globalstar and Carmanah Sign Strategic Agreement
- August 30th, 2016
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VICTORIA, BC, CANADA / CRWE PRESS RELEASE / August 30, 2016 - Carmanah Technologies Corporation (TSX:CMH) (“Carmanah”) today announced a strategic agreement with Globalstar Inc (NYSE:GSAT) (“Globalstar”). Under the terms of the agreement (the “Agreement”) Carmanah will collaborate on the design and manufacture of new solar powered M2M satellite solutions for Globalstar as well as selecting the Globalstar low earth orbiting satellite constellation for remote connectivity of all strategic Carmanah products.
The Agreement includes a multi-year supply agreement whereby Carmanah will design, develop, and supply the next generation of Globalstar devices incorporating solar power charging capabilities. The introduction of solar technology will support longer battery life as well as support a significant increase in data transmission capability on a device by device basis.
“Many of our customers are interested in broadening the data capture and increasing the frequency of data transmissions from their mobile assets. When available, our new solar powered devices will support larger and more frequent data transmission capability and, most importantly, have a much longer field life than our current devices” stated Dave Kagan, President & COO of Globalstar. “Our investment in this new technology demonstrates our commitment to constantly improve our customer experience.”
The collaboration is being initiated immediately and the first products are expected to be ready for market in mid-2017.
The Agreement is also the next step in Carmanah’s advanced Internet of Things strategy, utilizing the Globalstar low orbit satellite network to provide remote monitoring to each Carmanah LED infrastructure product moving forward. Carmanah’s worldwide deployments necessitated finding a cost effective M2M connectivity solution which provided reliable, ubiquitous coverage across the globe. After significant testing and research, Globalstar’s low-earth orbit satellite constellation was the clear choice as a communications platform for Carmanah.
“The widespread use of satellite monitoring will provide ubiquitous, low cost, reliable connectivity in all of our infrastructure products wherever they are deployed in the world.” stated John Simmons, CEO, “This agreement will strengthen Carmanah’s position as an industry leader for LED signaling and solar LED lighting solutions. This new and widespread capability should lead to an increase in our addressable market as “smart” connected technology obsoletes the installed base.”
Carmanah intends to equip all of its strategic products with this capability over the forthcoming three years.
About Carmanah Technologies Corporation
Carmanah designs, develops and distributes a portfolio of products focused on energy optimized LED solutions for infrastructure. Since 1996, we have earned a global reputation for delivering durable, dependable, efficient and cost-effective solutions for industrial applications that perform in some of the world’s harshest environments. We manage our business within three reportable segments: Signals, Illumination and Power. The Signals segment includes serves the Airfield Ground Lighting, Aviation Obstruction, Offshore Wind, Marine and Traffic markets. The Illumination segment provides solar powered LED outdoor lights for municipal and commercial customers. The Power segment serves both On-Grid and Off-Grid verticals.
Globalstar is a leading provider of mobile satellite voice and data services, leveraging the world’s newest mobile satellite communications network. Customers around the world in industries like government, emergency management, marine, logging, oil & gas and outdoor recreation rely on Globalstar to conduct business smarter and faster, maintain peace of mind and access emergency personnel. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring and SCADA and IoT applications. The Company's products include mobile and fixed satellite telephones, the innovative Sat-Fi satellite hotspot, Simplex and Duplex satellite data modems, tracking devices and flexible service packages. For more information, visit www.globalstar.com.
This release may contain forward-looking statements. Often, but not always, forward-looking statements can be identified by the use of words such as “expects,” “plans,” “estimates,” “intends,” “believes,” “could,” “might,” “will” or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Carmanah to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties. For additional information on these risks and uncertainties, see Carmanah’s most recently filed Annual Information Form (AIF) and Annual MD&A, which are available on SEDAR at www.sedar.com and on the Company’s website at www.carmanah.com. The risk factors identified in Carmanah’s AIF and MD&A are not intended to represent a complete list of factors that could affect Carmanah. Accordingly, readers should not place undue reliance on forward-looking statements. Carmanah does not assume any obligation to update the forward-looking information contained in this press release.
Carmanah Technologies Corporation:
Evan Brown, (250) 380-0052
Chief Financial Officer/Corporate Secretary
Director of Marketing
Source: Carmanah Technologies Corporation