Iridium Communications Inc. (NASDAQ:IRDM) announced today that the International Maritime Organization’s (IMO) Maritime Safety Committee (MSC) agreed to recognize that the Iridium network meets all the criteria of the IMO needed to provide mobile satellite services in the GMDSS, and to adopt the “Statement of Recognition” proposed by the United States as a Committee Resolution. This is a significant achievement that ends a decades-long satellite industry monopoly in which only one company was authorized to provide satellite GMDSS service and for the first time will bring competition and truly global coverage, to mariners sailing any of the world’s oceans.
The MSC also agreed that Iridium and the United States, the delegation sponsoring Iridium’s application at the IMO, will work with the International Mobile Satellite Organization (IMSO), which will monitor progress in Iridium’s implementation of the service. The IMSO will report to the MSC once a Public Services Agreement has been entered into between Iridium and the IMSO, likely marking the start of this service.
“This is a historic moment for the maritime industry and an honor for Iridium to be the second ever recognized provider for GMDSS services,” said Bryan Hartin, executive vice president, Iridium. “This is the dawn of a new era for mariner safety. We’ll bring a new choice and upgraded capabilities for mariners along with our truly global coverage that will for the first time extend the reach of satellite-based GMDSS to even the most remote waterways.”
Iridium formally began the process to become a recognized GMDSS mobile satellite service provider in April 2013. Iridium plans to begin providing GMDSS service in early 2020.
“This has been a long time coming, and we are ecstatic to gain this very important recognition from the IMO. We are equally proud to ensure mariners will have access to this critical system from anywhere in the world that they sail,” said Matt Desch, chief executive officer, Iridium. “Iridium has established itself as a trusted maritime safety provider for over a decade, and this recognition is a testament to both that trust and the capabilities offered by our satellite network.”
The announcement comes one day before Iridium is scheduled to launch its sixth Iridium NEXT mission with SpaceX, delivering five more Iridium NEXT satellites to low earth orbit as part of the continuing upgrade to its existing satellite network. The launch is scheduled for May 22nd at 12:47:58 pm PDT (19:47:58 UTC). The Iridium network is a constellation of 66 low-Earth orbit (LEO), cross-linked satellites that provide reliable, low-latency satellite communications to the entire world, including the poles.
For more information about Iridium maritime safety, please visit https://www.iridium.com/solutions/maritime/safety/
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. The company has a major development program underway for its next-generation network — Iridium NEXT. 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.
Forward Looking Statements
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. The Company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this presentation include statements regarding the approval process for Iridium GMDSS services and the timing for deployment of the Iridium NEXT constellation. 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 potential delays in the Iridium NEXT deployment, the development and functionality of Iridium NEXT and related products and services, and the company’s ability to maintain the health, capacity and content of its satellite constellation, 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, 2017, filed with the Securities and Exchange Commission (the “SEC”) on February 22, 2018, and in the Company’s Form 10-Q for the quarter ended March 31, 2018, filed with the SEC on April 26, 2018, 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 speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.
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