Redzone Wireless, LLC Secures $4 Million Financing Approval from the Finance Authority of Maine

Partnership with the State and Camden National Bank will Accelerate Improvement in Maine’s Broadband Speed and Access in Maine.

March 23, 2015 – Camden, Maine.  Redzone Wireless, LLC, a Maine-based wireless Internet service provider (WISP) and Pine Tree Development Zone company, has received financing approval from the Board of Director’s of the Finance Authority of Maine (FAME) to insure a $4 million loan by Camden National Bank for the development of Redzone’s new 4G LTE Advanced wireless broadband service in Maine.

“We are honored to be partnering with FAME and Camden National Bank on this important financing,” said Jim McKenna, Redzone President & CEO. “This approval validates the potential of our wireless technology, the strength of our business model, and our alignment with the broadband and economic development goals of the State of Maine. “

“FAME is pleased to support Redzone with its plans to develop improved access to broadband Internet for Maine homes and businesses,” stated FAME Chief Executive Officer Bruce Wagner. “We know how important Internet access and speed are to Maine’s economic development and to its citizens in both rural and urban areas. FAME’s financing should help provide a much-needed boost for development of this important infrastructure.”

Redzone Wireless announced recently that the FCC approved its statewide wireless broadband network operating on FCC-licensed EBS (Educational Broadcast Services) spectrum within the range of 2495-2690 MHz. The company had previously announced an exclusive public/private partnership with the University of Maine System (UMS) for commercial development of this spectrum through 2043.

Redzone Wireless will begin operating a 4G LTE Advanced wireless broadband network on the licensed EBS Spectrum offering affordable plans that meet the recently revised broadband standards of both the FCC and ConnectME within selected areas in April of 2015.  The company plans to expand its network to cover 25% of Maine’s population within 12 months, and ultimately over 90% of Maine’s population.