OTTAWA, January 11, 2022 – C-COM Satellite Systems Inc., (TSXV: CMI and OTCQB: CYSNF) (“C-COM” or the “Company”) a leading global provider of commercial grade mobile auto-deploying satellite antenna systems, announced today that it has received orders in excess of $3 Million USD for its iNetVu® antenna systems from various customers in the US, Europe and Asia.
The systems have been purchased by reseller partners, in multiple countries, and will be deployed by commercial customers in the Telecom and Energy markets for cellular backhaul, disaster management and oil & gas exploration, respectively.
“While the worldwide pandemic has dramatically slowed down sales into many regions in 2021, it now appears that business for C-COM in 2022 is rebounding at a fast pace from around the world.
Despite supply channel and component shortage issues which are affecting many manufacturers, our extensive inventory of ready to ship products makes it possible for us to fulfill large orders within weeks.
C-COM remains a dominant player in the auto-acquire VSAT terminal market and is delivering the most advanced high in demand solutions to our worldwide customer base,” commented Leslie Klein President and CEO of C-COM. “These significant orders, from both new and existing resellers, are indicative that our highly reliable motorized antennas continue to be in great demand, and of significant value, to even the most demanding customers,” Klein continued
Most of these orders have already shipped in December and January and others are expected to be delivered before the end of C-COM’s second quarter ending May 31, 2022.
The Company offers classic and next generation Driveaway, Flyaway, Fixed Motorized, and Backpack systems (iNetVu®) for any vertical market where communications are challenged due to disruption or deficiency. C-COM has more than 20 different Comm-on-the-Pause antenna models, integrated with all major modem manufacturers, approved with most major satellite operators, and is working closely with more than 550 active dealers in over 100 countries. More than 8,500 iNetVu® systems have been sold since the brand’s inception.
Working with a renowned research team at the University of Waterloo, the Company is also developing an electronically steerable, Comm-on-the-Move Ka-band flat panel antenna system based on phased array technology with the potential to revolutionize satellite’s addressable mobile markets for land, airborne and maritime. The potential market for these types of antennas is predicted to be $42.8 billion by 2026, according to Research and Markets.
C-COM expects that this new modular platform will eventually provide a cost-effective solution for a wide range of applications—from fixed to mobility satellite broadband services, and for the rapidly emerging millimeter-wave 5G cellular services. The goal is to develop a leading world market product line based on this technology, and to use existing distribution channels to sell and support this future product.
About C-COM Satellite Systems Inc.
C-COM Satellite Systems Inc. is a pioneer and world leader in the design, development, and manufacture of transportable and mobile satellite-based antenna systems. The Company has developed proprietary, auto-acquisition controller technology for rapid antenna pointing to a satellite with just the press of a button, enabling Broadband Internet via Satellite across a wide range of market applications worldwide, including regions unserved or underserved by terrestrial access technologies.
C-COM has sold more than 8,500 antenna systems, in over 100 countries, through a dedicated dealer network that provides service to a wide range of vertical markets such as Oil & Gas Exploration, Military Communications, Disaster Management, SNG, Emergency Communications, Cellular Backhaul, Telemedicine, Mobile Education, Government Services, Mobile Banking, and others. The Company’s iNetVu® brand is synonymous with high quality, reliability, and cost-effectiveness.
C-COM is in late-stage development of a potentially revolutionary Ka-band, electronically steerable, modular, conformal, flat panel phased array antenna. In cooperation with the University of Waterloo, C-COM is engaged in the design of this unique antenna with the intent of providing low-cost, high-throughput mobility applications over satellite for land, airborne and maritime verticals. For additional information please visit www.c-comsat.com
The Company is publicly traded on the TSX Venture Exchange (TSXV: CMI) and on the US OTC Exchange (OTCQB: CYSNF).
iNetVu® is a registered trademark of C-COM Satellite Systems Inc.
Forward Looking Statements
This news release contains forward-looking statements. These statements relate to future events or future performance and reflect management’s current expectations and assumptions. Statements about the future demand for C-COM’s products and the perception that demand is growing; C-COM’s ability to ship goods from inventory within certain time frames; fulfillment of orders received and the timing of delivery; and the development of new technologies, including timing, features, the potential market for such products and the potential benefits to customers and C-COM from the development of such products, all contain forward-looking information. Several factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Deployment of units ordered may not be as expected by C-COM and the receipt of the orders may not be reflective of the state of the demand for C-COM’s products. Orders may take longer to ship than anticipated and orders may be cancelled for any number of reasons, some of which are beyond C-COM’s control. Anticipated benefits of the new technology may not be realized, and new products and services may not be released or, if released may not gain market acceptance. Any of those events and others could influence future performance and C-COM’s ability to achieve the results mentioned above. These forward-looking statements are made as of the date hereof and C-COM does not assume any obligation to update or revise them to reflect new events or circumstances. Readers are directed to the discussion of risk factors associated with C-COM’s business as set out in C-COM’s most recent management’s discussion and analysis available at www.SEDAR.com.
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