Friday, April 28, 2017

Teraphysics Raises $50 Million for mmWave Technology

Investment firm Boustead Securities has announced that Teraphysics, based on Cleveland, a developer of high-speed wireless transmission technology, has received SEC qualification for a $50 million capital raise through the issuance of Regulation A+ securities.

In conjunction with the announcement of its Regulation A+ securities issue, which is underwritten by Boustead, Teraphysics also recently detailed its commercialisation plans for the mmLink technology.

Under the terms of the transaction, Teraphysics is issuing 10 million share of common stock at $5 per share. The net proceeds will be used to fund the commercialisation phase of its technology, including the development of a micro link wireless network for the demonstration of wireless terrestrial and stratospheric platforms, the establishment of a piloting facility and the purchase of production capacity.

Teraphysics, founded by three former NASA scientists, has developed mmLink technology that enables high-speed data transmission and targets applications for next generation 5G mobile data connectivity and Internet access. Development of the company's mmLink millimetre-wave amplifiers was supported with funding from the NASA Jet Propulsion Lab, Air Force Research Lab and the Defense Advanced Research Projects Agency.

Based in Cleveland, Ohio, Teraphysics was founded by Louis S. Fisi and scientists Dr. Gerald T. Mearini (PhD) and James A. Dayton,, Jr. (PhD). The company has developed patented devices designed to significantly enhance 5G data delivery. Teraphysics' IP includes its patented and commercially viable THz source that employs miniaturised vacuum electronics.

The mmLink solution is a wireless solution able to transmit at very high data rates using a millimetre-wave amplifier that has been developed from technology installed in NASA vehicles including the Mars Observer and Cassini spacecraft.

The Teraphysics amplifier is designed to provide high power and wide bandwidth in previously inaccessible parts of the millimetre-wave band and is intended to offer a lower cost, quicker to install alternative to fibre connectivity. The company's first amplifier is expected to deliver data rates of 10 to 20 Gbit/s, while future products could support rates of up to 150 Gbit/s.

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