MCLEAN, Va., Sept. 6, 2023 /PRNewswire/ — Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, announced today that Xuzhou Construction Machinery Group (XCMG), a leading global heavy original equipment manufacturer (OEM), will deploy Iridium® IoT services on its global fleet of heavy equipment, starting with excavators and expanding to loaders and crane trucks as needed. XCMG will utilize Iridium’s global network to maintain critical connectivity with their heavy equipment in key strategic locations including Australia, Southeast Asia, Latin America, Africa, and Central Asia.
XCMG has chosen Iridium Edge®, a cost-effective, plug-and-play satellite IoT terminal, as it complements terrestrial-based solutions to create a highly reliable connectivity experience worldwide and simplifies implementing Iridium IoT services on their fleet. With easy integration, XCMG can rapidly deploy the terminals to their heavy equipment, allowing them to understand asset condition and performance, efficiently address customer needs, and save on development costs and time to market.
“As a world class OEM, XCMG continues to demonstrate their forward-thinking approach and innovation in the heavy equipment industry,” said Matt Desch, CEO, Iridium. “By leveraging Iridium’s truly global, weather-resilient satellite connectivity on their machinery, XCMG is enabling a better user experience with advanced, cutting-edge solutions to their customers worldwide.”
As of the second quarter of 2023, Iridium’s commercial IoT subscribers grew by 19% from the year-ago period, reaching 1,578,000 customers, further cementing the company’s place as the premier satellite IoT company. This growth demonstrates the widespread adoption of Iridium’s unmatched coverage, reliability, and ease of integration across various industries.
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About Iridium Communications Inc.
Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2019, the company completed a generational upgrade of its satellite network and launched its specialty broadband service, Iridium Certus®. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com.
Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the deployment of its products and services. Forward-looking statements can be identified by the words “anticipates,” “may,” “can,” “believes,” “expects,” “projects,” “intends,” “likely,” “will,” “to be” and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding customer demand for Iridium’s products and services; Iridium’s ability to maintain the health, capacity and content of its satellite constellation, and the development of and market for Iridium’s products and services, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption “Risk Factors” in the Company’s Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission (“SEC”) on February 16, 2023, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium’s expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium’s underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium’s forward-looking statements are based on information available to it as of the date of this press release and speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.
Iridium Communications Inc.
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