LONGWOOD, Fla., Jan. 14, 2020 (GLOBE NEWSWIRE) -- Spectrum Global Solutions, Inc. (OTCQB: SGSI) (the “Company” or “Spectrum”), a leading single source energy management technology and network services provider, today announced that it recently received over $4.8 million in new contract awards across all operating subsidiaries.
The new contract awards are from both new and existing clients. The work orders are predominantly for infrastructure projects as carriers upgrade their networks for 5G wireless services throughout the United States and its territories.
“We continue to see strong demand for our professional services as demonstrated by continued new orders,” said Roger Ponder, Chief Executive Officer of Spectrum Global Solutions. “In addition to our footprint in the U.S., Canada and the Caribbean, we are beginning to establish a footprint in Europe, Africa and Asia as well. These successful initiatives, when paired with the recent acquisition of WaveTech GmbH, make this a particularly exciting time for Spectrum Global Solutions.”
“Since acquiring WaveTech GmbH, we have continued to work in the background to introduce the patented Crystal Control Technology (CCT®) to our U.S. and Canadian clientele – planting the seed for future sales while continuing to support the WaveTech team in their international deployments,” added Keith Hayter, President of Spectrum Global Solutions. “CCT uniquely prevents buildup of non-soluble lead sulphate crystals in lead-acid batteries, a primary cause of failure for over 80% of batteries.
“By integrating CCT, battery users can dramatically extend the service life of a battery while increasing charging efficiency – notably lowering the lifetime cost of a battery system. We believe this is a transformational technology and look forward to rolling this technology out into the marketplace alongside our established tier-1 customer base.”
About Spectrum Global Solutions
Spectrum Global Solutions (OTCQB: SGSI) is a leading single-source technology and services provider, specializing in next-generation energy management, professional engineering and communications network infrastructure solutions. Spectrum’s highly scalable service platform model, proven out through engagements with tier-1 network operators in the United States, Canada, Caribbean, Europe, Africa and Asia uniquely allows for the bundling of disparate services and technology products with a single provider, simplifying network deployment and maintenance with a comprehensive, cost-competitive one-stop-shop solution.
Spectrum’s patented energy management solution, Crystal Control Technology (CCT®), uniquely prevents lead sulphate crystal buildup, a primary cause of lead-acid battery failure. Integrated in the form of a microchip in the battery lid, CCT improves battery capacity, longevity and charging efficiency while concurrently reducing the lifetime service costs of a battery system. To learn more, visit the Company’s website at https://spectrumglobalsolutions.com/.
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
Greg Falesnik or Luke Zimmerman
MZ Group – MZ North America