Boulder, CO, Feb. 11, 2020 (GLOBE NEWSWIRE) -- FreeWave Technologies, a leader in industrial edge computing and long-range industrial wireless connectivity expanded its global footprint and continued its record growth trajectory in 2019 thanks to gains in the smart agriculture, UAV, oil and gas and municipal water/wastewater verticals.
With 2019 revenue growth up more than 10 percent, international growth up 50 percent and EBITDA up 38 percent over 2018, the company is well-positioned to meet the growing global demand for Edge Cloud and Virtualized Edge platforms that deliver true Industrial Internet of Things (IIoT) benefits to new and existing markets.
“These are dynamic and exciting times at FreeWave and in the industry in general,” said FreeWave Technologies CEO Kirk Byles. “We’ve been connecting the industrial edge for decades. However, our strategy to shift the business toward integrated edge connectivity and computing solutions has had an immediate impact in our bottom line. Delivering high-fidelity data capture capabilities for analysis, control and automation via a single, scalable IIoT platform is certainly on point. We see this proven out by our continued performance and growing demand,” said Byles. “By building a strong and diversified ecosystem of partners, we believe we can provide customers with effective solutions to address network challenges and optimize algorithms to capitalize on IIoT opportunities today and into the future.”
Since 2017, FreeWave has steadily and strategically expanded its portfolio beyond SCADA to include investments in its Zumlink™ industrial products and ZumIQ™ EDGE compute platform. Recent updates have added improved processing power and memory, as well as additional ports for USB and Ethernet connectivity. Here’s a quick snapshot of key 2019 business milestones
- Announced an agreement to team with MachineShop to provide a turn-key edge computing solution that seamlessly extends Amazon Web Services (AWS) computing to the edge, transforming how edge computing is deployed, managed, and connected with AWS IoT Greengrass and related services.
- Invested and grew international sales by 50 percent by executing agreements with partners and customers in Latin America, APAC, MEA, & EU. These partnerships will allow FreeWave to continue to diversify and scale its solutions globally.
- Announced strategic partnerships with Inductive Automation and AUTOSOL to deliver a fully integrated Edge solution that optimizes real-time data acquisition via a MQTT publish/subscribe SCADA architecture.
- Established new Board of Directors comprised of highly accomplished executives in the IIOT, software, product development and professional infrastructure services industries to support its IIoT solution evolution.
- Continued to align with various edge and cloud software tool and solutions providers to simplify the adoption of IIoT.
IIoT is rapidly becoming more important to industrial enterprises as they look to evolve their operations. The emergence of OT Cloud capabilities also promises to be a powerful asset. The proliferation of sensors and devices being implemented brings new demands for computing power at the edge as well. FreeWave has taken its rugged OT products, designed for low-power operation across wide temperature ranges, and infused them with open IQ intelligence. By connecting them to a smarter platform, they can reliably address the data-intensive realities of IIoT, create data transparency, foster interoperability to enrich existing infrastructure and enable new business models.
“It’s about moving organizations from reactive models to predictive optimization enriched by real-time IoT insights,” said Byles. “We look forward to helping customers solve all their problems in all the industries we serve through IIoT transformation.”
For more information on FreeWave Technologies’ and its Intelligent Edge solutions, visit www.freewave.com.
About FreeWave Technologies
With deployments in over 32 countries, FreeWave’s products are leveraged by industrial end users and OEMs alike to connect, control and optimize remote machines and processes to impact smarter decision-making, improve operational efficiencies and drive cost savings. Throughout our 26-year history, Freewave’s IIoT Connectivity and EDGE Solutions have solved thousands of customers’ problems in government/defense, energy, agriculture, and municipalities – achieve reliable connectivity for data telemetry and command and control in some of the most challenging, remote and rugged environments in the world. Today, we are transforming the extreme edge of operations – and the proliferation of smart devices within it – into a connected part of the enterprise with our IQ edge computing platform and ecosystem of solutions evolved for IIoT. Are you ready to transform your operation? Visit freewave.com to get started.