Consolidating Dual Headquarters in Phoenix, Arizona and New Hope, Pennsylvania Into Downtown Allentown Offices
ALLENTOWN, PA / ACCESSWIRE / June 23, 2020 / Iota Communications, Inc. (OTCQB:IOTC) ("IotaComm" or the "Company"), a wireless communication and data analytics software company, and City Center Investment Corp., the real estate development company revitalizing downtown Allentown, Pennsylvania, today announced the relocation and consolidation of its new corporate headquarters to Tower 6 in downtown Allentown. Iota Communications has leased 7,150 square feet on the 10th floor of the Class A office building at Sixth and Hamilton streets and plans to move employees into the space when state orders allow.
Terrence DeFranco, President and Chief Executive Officer of Iota Communications, commented, "We are excited to move into our new headquarters in the heart of downtown Allentown. We were attracted to Allentown's big-city feel with all the small-city benefits. In addition, the quality workforce in the region and close proximity to New York City and Philadelphia markets make this an ideal location as we are in a growth mode and many of our services have really taken on a new importance due to COVID-19."
Iota Communications helps businesses leverage its proprietary technology and connectivity to reduce costs, optimize energy efficiency and operations, measure office building air quality, and advance sustainability in commercial facilities. The firm's dedicated carrier-grade network is purposely built to enable low-cost, long-range connectivity in even the most challenging environments. This connectivity powers a data collection, analysis and visualization process that provides actionable insights, drives sustainability and profitability, and positively impacts the planet.
Iota Communications (OTCQB: IOTC) was ranked No. 53 on the 2019 Deloitte Technology Fast 500, an annual list of the fastest growing public and private technology companies in North America. Formed in 2013, the company experienced 2,391% fiscal year revenue growth from 2015 to 2018.
"Iota Communications choosing to headquarter and expand their rapidly growing national business in downtown Allentown validates what has been happening here over the last few years," said City Center President J.B. Reilly. "Progressive companies of all sizes and specialties are discovering that this is an excellent place to do business and grow, and that City Center's new space increases their ability to attract and retain talented employees who want to work in a walkable city environment. We're pleased to welcome them to downtown Allentown."
Iota Communications began temporarily leasing space for 10 employees in Two City Center in downtown Allentown in September 2019, while City Center is overseeing a custom fit-out of their offices in Tower 6.
With the addition of Iota Communications, the 145,000-square-foot Tower 6 is fully leased. Other tenants include Bank of America/Merrill Lynch, Avantor, Talen Energy, CAPTRUST, CrossAmerica Partners, NJR Energy Services, fedRFP, Morton Brown Family Wealth and ESSA Bank & Trust. Together, Tower 6's tenants have nearly 500 employees, many of whom live downtown. Tower 6 exceeds Class A specifications, with cutting-edge features including energy-efficient systems for lighting, HVAC and window-shade control, elevators that optimize traffic flow, customized access-control and security solutions, and state-of-the-art connectivity.
For more information about office space at City Center, contact Director of Leasing Jarrett Laubach at jlaubach@citycenterallentown.com.
About City Center Allentown
City Center Allentown is a major mixed-use development that is helping transform downtown Allentown, Pennsylvania, into one of America's most vibrant urban communities and a regional center of excellence for business, culture and city living. With Allentown's new arena, PPL Center, at its core, City Center includes more than 1.8 million square feet among five Class A office towers, the Renaissance Allentown Hotel, six residential communities, upscale retail and restaurant space and a coworking space called Velocity. City Center's total investment in downtown Allentown is $588 million, with another $100 million under development and $310 million in the planning stages. In 2017, the Downtown Allentown Revitalization District was honored with a Global Award of Excellence by the Urban Land Institute (ULI).
About Iota Communications, Inc.
Iota Communications, Inc. (OTCQB:IOTC) is a wireless communication and data analytics software company that provides Internet of Things solutions which optimize energy efficiency, sustainability and operations for commercial customers. Our company is built on a foundation of a portfolio of FCC-licensed spectrum that is used to enable low-power, wide area connectivity, which serves as a unique capability in our Smart Building and Smart City data analytics applications. Our connectivity and analytics solutions help our customers achieve higher returns on assets and investment and more efficient and productive operations.
For more information about Iota Communications, Inc., please visit: https://www.iotacommunications.com
Forward-Looking Statements
This press release may contain "forward-looking statement" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements include, but are not limited to, any statements relating to our beliefs regarding the role that IoT will play in the future, our ability to implement our strategic goals, our ability to raise capital and reduce costs, and any other statements that are not historical facts. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include, but are not limited to: risks related to the acquisition and integration of the assets we acquired from Solbright Group, Inc., risks related to our growth strategy; risks relating to the results of research and development activities; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; our dependence on third-party suppliers; our ability to attract, integrate, and retain key personnel; the early stage of products under development; our need for substantial additional funds; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.
CONTACT:
Corporate & Investors:
Iota Communications, Inc.
600 Hamilton Street, 10th Floor
Allentown, PA 18101
P:855-743-6478
investors@iotacommunications.com
ClearThink
nyc@clearthink.capital
Public Relations / Media:
Vorticom, Inc.
Nancy Thompson
P:212-532-2208
nancyt@vorticom.com
Media Contact:
Jeff Vaughan
Vaughan Communications Group
jv@voncom.com
610-533-4264
SOURCE: Iota Communications, Inc.
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