Ran across this strange sounding news and thought it might be interesting to someone here.
John Tomich Dusty Foot Tripod
RT LAUDERDALE, Fla., Jul 14, 2005 (BUSINESS WIRE) -- GlobeTel Communications Corp. (GTE, Trade) announced today that its wholly-owned subsidiary, Sanswire Networks, LLC has entered into a Joint Venture Agreement to deploy Stratellites throughout the country of Colombia.
The agreement with Florida-based Apogeo Enterprises Corporation calls for a total of five Stratellites to be launched over the Latin American country to build a wireless broadband network that would be the first of its kind in the world. Apogeo plans to invest a total of fifty million dollars ($50,000,000 USD) into the project. Funding would be based on a construction schedule to be set by Sanswire and would be released to Sanswire pursuant to the terms of the Agreement.
Timothy Huff, CEO of Sanswire parent GlobeTel, stated: "This is a wonderful opportunity for Sanswire. It shows that other parties around the world are as excited about the Stratellites as we are and are willing to step up to the plate in order to bring this state-of-the-art technology to their country."
During a recent trip to Colombia, Michael K. Molen, President of Sanswire's Latin American operations, and Jairo Rivera, Vice President of Business Development for Latin America, received strong support for the project from several high ranking government officials including Colombian President, Alvaro Uribe. Molen stated: "We met with the President at the Palace in Bogota and he was very gracious and told us that he would help us in any way that he could to bring this technology to his country."
A Stratellite(TM) is a high-altitude airship that when in place in the stratosphere (approximately 65,000 feet) will provide a stationary platform for transmitting various types of wireless communications services currently transmitted from cell towers and satellites. It is not a balloon or a blimp, but a high-altitude airship with a rigid structure.
The Stratellite is similar to a satellite in concept, but is stationed in the stratosphere rather than in orbit. Existing satellites provide easy "download" capabilities, but because of their high altitude are not practical for commercially viable "two-way" high-speed data communication. The Stratellite will allow subscribers to easily communicate in "both directions" using readily available wireless devices.
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