TeraGo Inc. (“TeraGo” or the “Company”) (TSX: TGO, www.terago.ca), today announced that 5G technical trials in the Greater Toronto Area (“GTA”) have commenced at TeraGo’s Thornhill head office location, utilizing 5G fixed wireless network equipment from Nokia Inc. (“Nokia”). Initial testing will be in the 38 GHz frequency band using Innovation, Science and Economic Development (“ISED”) approved and issued developmental licences. TeraGo will also be utilizing Customer Premise Equipment (“CPE”) from Askey Computer Corp. (“Askey”) in support of these initial trials, which are expected to be carried out over the next several weeks. Due to the impact of the recent COVID-19 event, customer trials are planned to begin in the second half of 2020.
“We are seeing the continued evolution of 5G network technology, which is expected to deliver significantly enhanced performance,” said Tony Ciciretto, President and CEO of TeraGo. “Interoperability testing of network and CPE equipment in real world environments is a critical step in enabling this transition. We’re pleased to add Askey, a leading developer and manufacturer of wireless networking solutions, to our roster of industry-leading partners for our 5G trials. In Canada, TeraGo is uniquely positioned to be one of the first operators to launch commercial 5G fixed wireless services as the largest holder of millimetre wave spectrum in the largest urban markets. The ultra-high bandwidth and low latency capabilities offered by 5G will allow us to deliver new innovative communications solutions to our customers, improve the efficiency of our network, and open new market opportunities for the Company.”
Robert Lin, Askey CEO, commented: “Askey is delighted to be a partner in TeraGo’s 5G fixed wireless trial. By collaborating with 5G vertical market solution partners, we are at the forefront of 5G mmWave CPE development serving primarily North America, among other global markets.”
TeraGo’s fixed wireless spectrum assets include 14 of 20 licenses issued in the 24 GHz band and 25 of 27 licenses issued in the 38 GHz band, covering 2,210 MHz in Canada’s six largest cities or approximately 8.6 billion MHz-Pop’s . The Company’s national fixed wireless network is supported by a redundant fibre optic backbone with approximately 600 rooftops across Canada. TeraGo is currently investing to enhance its network to bring the benefits of 5G fixed wireless access (FWA) to businesses including enhanced speed, throughput, low latency, and fibre like reliability.
TeraGo owns a national spectrum portfolio of exclusive 24GHz and 38GHz wide-area spectrum licences including 2,120 MHz of spectrum across Canada’s 6 largest cities. TeraGo provides businesses across Canada with cloud, colocation and connectivity services. TeraGo manages over 3,000 cloud workloads, operates five data centres in the Greater Toronto Area, the Greater Vancouver Area, and Kelowna, and owns and manages its own IP network. The Company serves business customers in major markets across Canada including Toronto, Montreal, Calgary, Edmonton, Vancouver, Ottawa and Winnipeg. For more information about TeraGo, please visit www.terago.ca.
About Askey Computer Corp
Askey Computer Corp. specializes in designing communication devices and creating solutions for today’s demanding customers. By keeping the pulse on the latest technologies and placing Customer Experience at the heart of product development, Askey has consistently introduced groundbreaking innovations and deployed state of the art Broadband, 5G/LTE, WiFi 6, Connected Automotive, Smart City, and Smart Home Solutions.
This news release includes certain forward-looking statements that are made as of the date hereof. Such forward-looking statements may include but are not limited to statements regarding the 5G fixed wireless trials being conducted with Nokia and Askey, the timing and length of such trials and future customer trials, the potential and evolution of 5G technology in 2020 and the enhanced performance expected, TeraGo becoming one of the first operators to launch commercial 5G FWA services, and the enablement from 5G of new innovative communications solutions, network efficiency, and new market opportunities for TeraGo. All such statements constitute “forward-looking information” as defined under, applicable Canadian securities laws. Any statements contained herein that are not statements of historical facts constitute forward-looking information. The forward-looking statements reflect the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those risks set forth in the “Risk Factors” sections in the annual MD&A of the Company for the year ended December 31, 2019, available on www.sedar.com under the Company’s corporate profile. Factors that could cause actual results or events to differ materially include the inability to complete successful 5G technical trials with Nokia and Askey, the impacts and restrictions caused by the COVID-19 pandemic are prolonged which may further delay customer trials, the results of the trials not being satisfactory to TeraGo or any of its technology partners, regulatory requirements may delay or inhibit the trial, the economic viability of any potential services that may result from the trial, the ability for TeraGo to finance and support any new market opportunities that may present itself, and industry competitors who may have superior technology or are quicker to take advantage of 5G technology. Accordingly, readers should not place undue reliance on forward-looking statements as several factors could cause actual future results, conditions, actions or events to differ materially from the targets, expectations, estimates or intentions expressed with the forward-looking statements. Except as may be required by applicable Canadian securities laws, TeraGo does not intend, and disclaims any obligation, to update or revise any forward-looking statements whether in words, oral or written as a result of new information, future events or otherwise.
For further information, please contact:
TeraGo Investor Relations
Matt Glover, Gateway Investor Relation