NextNav Gets DOT Award to Test PNT Services to Complement, Back Up GPS

Dow Jones07-09

By Stephen Nakrosis

NextNav said it received an award from the Transportation Department to field test the company's 3D PNT technologies to provide positioning, navigation and timing, or PNT, information when GPS service isn't available or disrupted.

As part of the project the DOT will test the 3D PNT technology. The award, part of the department's Complementary PNT Action Plan, will facilitate adoption into systems depending on secure and reliable PNT services, DOT said.

NextNav said Monday the award comes as it is petitioning the Federal Communications Committee to reconfigure the part of the lower 900 MHz spectrum band to optimize its use for a terrestrial complement and backup to GPS as well as additional spectrum for 5G broadband.

After the bell, shares of NextNav were trading 5% higher, at $8.75. The stock closed the day's regular session with a 1.1% loss, at $8.33.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

July 08, 2024 17:15 ET (21:15 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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