VICTORIA, British Columbia & HOLLY, Mich.--(BUSINESS WIRE)--Today, Vecima Networks Inc. (TSX: VCM) and MARA Technologies USA, Inc., a subsidiary of Invotek Group Inc. (Invotek), announced that some of Vecima’s first Entra® SF-4X Fiber-to-the-Premises (FTTP) Optical Line Terminals (OLTs) have rolled off the production line in MARA’s Holly, Michigan facility.
The milestone was marked with an official visit to the MARA Technologies USA Holly facility on August 28 by Alan Davidson, Assistant Secretary of Commerce for Communications and Information and National Telecommunications and Information Administration (NTIA) Administrator.
See the statement from Assistant Secretary Alan Davidson on the Vecima and MARA partnership on the NTIA website: https://www.ntia.gov/press-release/2024/statement-assistant-secretary-davidson-vecima-s-electronic-equipment-internet-all-initiative.
As previously announced, Vecima has expanded manufacturing into the U.S. for certain products in its Entra portfolio to meet the proposed Build America, Buy America (BABA) requirements under the Broadband Equity, Access, and Deployment (BEAD) Program, one of the programs established under the Infrastructure Investment & Jobs Act (IIJA).
“The MARA team is thrilled to deliver Vecima’s first SF-4X Fiber products manufactured in the U.S.,” said Paul LaCroix, CEO of Invotek. “Our production facility is fully operational, and with the addition of our new distribution warehouse, we will provide more value-added services while increasing overall capacity. We expect to add up to 100 highly skilled jobs in our state-of-the-art Holly, Michigan facility to support the Vecima program.”
The $42.45 billion BEAD Program allows for states, territories, the District of Columbia (D.C.), and Puerto Rico (P.R.) to utilize funding for broadband adoption and deployment, upgrading, and installation projects to bring high-speed internet access across the U.S. to underserved and unserved communities. This manufacturing expansion of certain Vecima Entra Fiber Access OLTs to the U.S. offers service providers an industry-recognized OLT option for their buildout of fiber broadband networks under the BEAD program.
Vecima’s industry-leading portfolio of 10G PON products has achieved strong market adoption, and in March 2023, the Dell’Oro Group named Vecima the global market share leader in both Remote MACPHY and Remote OLT Distributed Access Architecture (DAA) solutions.
“Our customers can now deploy Vecima’s Entra SF-4X as part of their efforts to deliver high-speed fiber broadband to all communities,” said Clay McCreery, Chief Operating Officer of Vecima. “The Entra SF-4X is the global Remote OLT market share leader and a proven solution for operators building high-speed broadband networks for all Americans.”
With broad support for all next-generation cable access technologies, high-value legacy services, and proven industry-leading interoperability, the networks of tomorrow are deployable today. Learn more about the Entra SF-4X Remote OLT at vecima.com/broadband-access/sf-4x-remote-olt.
Media representatives: Photography and video available from today’s event via Business Wire.
About Invotek Group Inc.
Invotek Group Inc. supports OEMs through its manufacturing and engineering centers in the United States, Canada, and China. Invotek’s strategy is to work with customers to develop and engineer world-class processes that deliver optimized performance in cost and quality. We do this through in-depth, open-book, collaborative efforts with your design and engineering teams that ensures we become “Your Factory”. We have a long history with broadband electronics manufacturing and over the past twenty years have developed world-class capabilities with IoT product development and power management systems for the Electric Vehicle market. For more information, visit Invotek at www.invotekgroup.com.
About Vecima Networks
Vecima Networks Inc. (TSX: VCM) is leading the global evolution to the multi-gigabit, content-rich networks of the future. Our talented people deliver future-ready software, services, and integrated platforms that power broadband and video streaming networks, monitor and manage transportation, and transform experiences in homes, businesses, and everywhere people connect. We help our customers evolve their networks with cloud-based solutions that deliver ground-breaking speed, superior video quality, and exciting new services to their subscribers. There is power in connectivity – it enables people, businesses, and communities to grow and thrive. Learn more at vecima.com.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws (collectively, “forward-looking information“). Forward-looking information is generally identifiable by use of the words “believes”, “may”, “plans”, “will”, “anticipates”, “intends”, “could”, “estimates”, “expects”, “forecasts”, “projects”, “scheduled” and similar expressions, and the negative of such expressions.
Forward looking information in this news release includes without limitation, any statements (express or implied) respecting: Mara Technologies USA expects to add approximately 100 new U.S.-based workers to support the Vecima program.
Forward-looking information are not guarantees of future performance, actions, or developments and are based on expectations, assumptions, and other factors that management currently believes are relevant, reasonable, and appropriate in the circumstances. There can be no assurance that future developments will be those that have been anticipated. The material expectations, assumptions, and other factors used in developing the forward-looking information set out herein include or relate to the following, without limitation: Vecima will be able to successfully execute its plans, strategies, and objectives; the specifications and manufacturing processes of the Entra® SF-4X Remote Optical Line Terminal (OLT) are compliant with the BEAD program and will continue to be compliant; Vecima’s ability to manufacture certain products in the United States.
Although management believes that the forward-looking information herein are reasonable, actual results could be substantially different due to the risks and uncertainties associated with and inherent to Vecima’s business, as more particularly described and referred to in the “Risk Factors” section the Company’s Annual Information Form dated September 21, 2023, as well as the Company’s continuous disclosure filings with Canadian securities regulatory authorities available at www.sedarplus.ca.
