Thursday, April 26, 2007

Arcadian Networks Raises More Funding for its 700MHz Network

Arcadian Networks, a privately held wireless telecommunications carrier, raised an additional $30 million of financing from lead investor Goldman Sachs for its IP-based, wireless broadband field automation services for the energy sector in rural America. Arcadian's deployment of a r700 MHz network has already begun in Minnesota with Great River Energy, a not-for-profit generation and transmission cooperative providing wholesale electric service to 28 distribution co-ops that serve more than 600,000 members or about 1.7 million people.

Arcadian Networks said its business model is focused on the imperative for US electric, gas, oil, and coal energy producers to augment, update, and replace legacy communication systems with state of-the-art broadband, IP-based wireless communications systems and services to enable 'smart' initiatives (smart grid, smart field, etc.).

Arcadian also expects demand for secure, licensed, unencumbered radio spectrum will continue to grow as the nation's critical infrastructure industries (electric, oil, gas & water utilities ) and first responders (police, fire and emergency medical professionals) seek to improve productivity, resilience, and response capabilities.

Through its 700 MHz-based network, the company offers utilities such as electric, oil and gas, and water with a turnkey flexible high-speed broadband network allowing real-time monitoring and control of operations and management applications.

With this closing, Arcadian Networks has raised a total of $90 million in financing over the past twelve months.

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