ALM.L Regulatory News (ALM)

12 August 2020

Allied Minds plc

Federated Wireless's potential market opportunity expands - additional 100 megahertz of key mid-band spectrum unlocked for commercial deployment

Allied Minds plc (LSE: ALM, "the Group"), the IP commercialisation company focused on early stage company development within the technology sector, highlights the announcement by the White House and Department of Defense (DoD) that 100 megahertz (MHz) of contiguous mid-band spectrum in the 3.45-3.55 GHz band will be made available for commercial 5G deployment using a spectrum sharing framework.

Similar to Citizens Broadband Radio Systems (CBRS), the 3.45-3.55 GHz band is currently used for critical radar operations by the DoD.

Allied Minds's portfolio company, Federated Wireless, is a key player in developing shared spectrum CBRS capabilities, which has a wide range of users and applications, including fixed wireless and Connectivity-as-a-Service (CaaS), that has the ability to grow with increased spectrum opportunity.

Making the 3.45-3.55 GHz band available for commercial use demonstrates confidence in the shared spectrum model and its application to other critically important spectrum. This will allow for increased 5G quality and speed necessary to support continued innovation, technology advancements, and expanding access throughout the US.

Federated Wireless, as a leader in enabling and opitimising allocation of shared spectrum, is uniquely positioned to support this incremental band with algorithms, standard product development, and improved sensor capabilities. It will seek to play a critical role in enabling access to this newly available spectrum.

Joe Pignato, CEO of Allied Minds, said:

"This notable development provides more potential opportunities for Federated Wireless and follows a number of equally stand out partner agreements signed this year. 2020 is proving to be a breakthrough year for the business."

See here for White House/DoD release.

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About Allied Minds

Allied Minds plc is an IP commercialisation company focused on early stage company development within the technology sector. With origination relationships that span US federal laboratories, universities, and leading US corporations, Allied Minds historically created, and now manages and funds, a portfolio of companies to generate long-term value for its investors and stakeholders. Based in Boston, Allied Minds supports its businesses with capital, management, expertise and shared services.

For more information, please visit www.alliedminds.com.

About Federated Wireless

Founded in 2012, Federated Wireless has long led the industry in development of shared spectrum CBRS capabilities, taking a lead role in the formation of the CBRS Alliance, being the first to complete a wide range of trials with its Spectrum Controller, and deploying the industry's first nationwide ESC network. The company's partner ecosystem includes more than 40 device manufacturers and edge partners, all of which are dedicated to collaboration to advance development and proliferation of CBRS services. Federated Wireless' customer base includes companies spanning the telecommunications, energy, hospitality, education, retail, office space, municipal and residential verticals, with use cases ranging from network densification and mobile offload to Private LTE and Industrial IoT.

For more information, visit: www.federatedwireless.com.

Allied Minds Forward‐Looking Statement

This press release contains statements that are or may be forward‐looking statements, including statements that relate to Allied Minds' future prospects, developments and strategies. The forward‐looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risks and uncertainties described in the risk factors included in Allied Minds' regulatory filings. These forward‐looking statements are based on assumptions regarding the present and future business strategies of Allied Minds and the environment in which it will operate in the future. Each forward‐looking statement speaks only as at the date of this press release. Except as required by law, regulatory requirement, the Listing Rules and the Disclosure Guidance and Transparency Rules, neither Allied Minds nor any other party intends to update or revise these forward‐looking statements, whether as a result of new information, future events or otherwise.