GigaBeam Corporation (OTC BB: GGBM) announced today the
appointment of Richard Fiorentino to the Board of Directors of the
Company. The Company also announced the resignation of Alphonse
Lucchese from the Board. Mr. Fiorentino has also been appointed to
serve on the audit, compensation and corporate governance and
nominating committees. These changes to the Company's Board became
effective on March 20, 2006.
Mr. Fiorentino brings to the Company over 39 years of experience in the technology sector, specializing in the development, marketing and sale of sophisticated computer based information technology systems. Currently, Mr. Fiorentino is the chief executive officer of eyeSeven, Inc., a private company developing software enabling technology for the control of network cameras and sensors. Mr. Fiorentino was previously a member of the Board of Directors and vice president of engineering of Marathon Technologies Corp. Earlier in his career, Mr. Fiorentino was a product manager with Digital Equipment Corporation. Mr. Fiorentino received his BSc. in Computer Science from Boston University and a MBA from Harvard Business School.
Lou Slaughter, GigaBeam's Chairman and CEO, stated, "I am extremely pleased with Richard Fiorentino's appointment to our Board of Directors. His breadth of knowledge with technology businesses will be a significant asset to the Company and further enhance the experience of our existing Board. Our Board acknowledges and thanks Mr. Lucchese for his invaluable contributions in guiding the Company during his tenure. We wish him well in his future endeavors."
GigaBeam WiFiber(TM) wireless fiber products operate in the 71-76 GHz and 81-86 GHz radio spectrum bands. This portion of the radio frequency spectrum has been authorized by the Federal Communications Commission for wireless point-to-point commercial use. Use of these frequency bands for commercial use was pioneered by GigaBeam's founders.
GigaBeam's technology, utilizing these large blocks of authorized contiguous spectrum, enables multi-Gigabit-per-second communications through use of Gigabit Ethernet and other standard protocols. The current speed achieved by GigaBeam's WiFiber product lines is one Gigabit-per-second - equivalent to 647 T1 lines or 1,000 DSL connections. GigaBeam also plans deployment of future products capable of 10 Gigabits-per-second utilizing either the 10 Gigabit Ethernet or OC-192 protocol standards.
GigaBeam's WiFiber technology is similar to terrestrial fiber in terms of speed and reliability for deployment in Metropolitan Area Networks (MANS). However, WiFiber has a substantial advantage over terrestrial fiber because WiFiber can be deployed in a day and costs less to deploy than terrestrial fiber. Terrestrial fiber can take months to deploy and also require significant regulatory and environmental approvals prior to installation.
About GigaBeam Corporation
GigaBeam is a provider of high-performance wireless point-to-point communications access solutions that operate in the licensed 71-76 GHz and 81-86 GHz radio spectrum bands. GigaBeam equipment operates at multi-gigabit-per-second speeds. GigaBeam Corporation headquarters is located at 470 Springpark Place, Suite 900, Herndon, VA 20170.
For more information, visit www.gigabeam.com.
Safe Harbor Statement
Statements in this press release regarding GigaBeam's products, services, capabilities, performance, opportunities, development and business outlook that are forward-looking involve and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond GigaBeam's control and difficult to predict, and could cause actual results to differ materially from those anticipated, expressed or forecasted in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing GigaBeam's products and services, ability to manufacture and deploy GigaBeam's products, lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, availability of raw materials, subassemblies and components, ability to meet future capital requirements on acceptable terms, continuing uncertainty in the telecommunications industry and the global economy, intense competition in the telecommunications equipment industry and resulting impact on pricing and general financial performance, compliance with federal and state regulatory requirements, timing, availability and success of new technology and product introductions and the other factors discussed in GigaBeam's filings with the Securities and Exchange Commission.
Mr. Fiorentino brings to the Company over 39 years of experience in the technology sector, specializing in the development, marketing and sale of sophisticated computer based information technology systems. Currently, Mr. Fiorentino is the chief executive officer of eyeSeven, Inc., a private company developing software enabling technology for the control of network cameras and sensors. Mr. Fiorentino was previously a member of the Board of Directors and vice president of engineering of Marathon Technologies Corp. Earlier in his career, Mr. Fiorentino was a product manager with Digital Equipment Corporation. Mr. Fiorentino received his BSc. in Computer Science from Boston University and a MBA from Harvard Business School.
Lou Slaughter, GigaBeam's Chairman and CEO, stated, "I am extremely pleased with Richard Fiorentino's appointment to our Board of Directors. His breadth of knowledge with technology businesses will be a significant asset to the Company and further enhance the experience of our existing Board. Our Board acknowledges and thanks Mr. Lucchese for his invaluable contributions in guiding the Company during his tenure. We wish him well in his future endeavors."
GigaBeam WiFiber(TM) wireless fiber products operate in the 71-76 GHz and 81-86 GHz radio spectrum bands. This portion of the radio frequency spectrum has been authorized by the Federal Communications Commission for wireless point-to-point commercial use. Use of these frequency bands for commercial use was pioneered by GigaBeam's founders.
GigaBeam's technology, utilizing these large blocks of authorized contiguous spectrum, enables multi-Gigabit-per-second communications through use of Gigabit Ethernet and other standard protocols. The current speed achieved by GigaBeam's WiFiber product lines is one Gigabit-per-second - equivalent to 647 T1 lines or 1,000 DSL connections. GigaBeam also plans deployment of future products capable of 10 Gigabits-per-second utilizing either the 10 Gigabit Ethernet or OC-192 protocol standards.
GigaBeam's WiFiber technology is similar to terrestrial fiber in terms of speed and reliability for deployment in Metropolitan Area Networks (MANS). However, WiFiber has a substantial advantage over terrestrial fiber because WiFiber can be deployed in a day and costs less to deploy than terrestrial fiber. Terrestrial fiber can take months to deploy and also require significant regulatory and environmental approvals prior to installation.
About GigaBeam Corporation
GigaBeam is a provider of high-performance wireless point-to-point communications access solutions that operate in the licensed 71-76 GHz and 81-86 GHz radio spectrum bands. GigaBeam equipment operates at multi-gigabit-per-second speeds. GigaBeam Corporation headquarters is located at 470 Springpark Place, Suite 900, Herndon, VA 20170.
For more information, visit www.gigabeam.com.
Safe Harbor Statement
Statements in this press release regarding GigaBeam's products, services, capabilities, performance, opportunities, development and business outlook that are forward-looking involve and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond GigaBeam's control and difficult to predict, and could cause actual results to differ materially from those anticipated, expressed or forecasted in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing GigaBeam's products and services, ability to manufacture and deploy GigaBeam's products, lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, availability of raw materials, subassemblies and components, ability to meet future capital requirements on acceptable terms, continuing uncertainty in the telecommunications industry and the global economy, intense competition in the telecommunications equipment industry and resulting impact on pricing and general financial performance, compliance with federal and state regulatory requirements, timing, availability and success of new technology and product introductions and the other factors discussed in GigaBeam's filings with the Securities and Exchange Commission.
© 2006 Business Wire
