Remote communications industry veteran remains a significant investor as well as a leader of a commercial partner
HOUSTON, TX (September 15, 2020) — Infrastructure Networks, Inc. (“iNet” or “Company”), a leading private Iicensed LTE network solutions provider, announced today that board member Scott Crist has completed his term of service and has left the board of directors effective on September 14th. Through Texas Ventures, where he serves as founding partner, he was an early and significant investor in iNet. He also served as iNet’s chairman & CEO from 2016 through the summer of 2019, which was a period of rapid growth and maturation at the Company. Crist also oversaw the addition of Apollo Global Management into the investment syndicate in late 2018, which provided growth capital for a major expansion of LTE network coverage across four major shale basins in the Lower 48 while upgrading the network to be 5G capable.
Crist is a successful early-stage CEO and venture capitalist with nearly thirty years of experience at iNet, Texas Ventures and various technology companies. He currently serves as CEO of Osperity, an intelligent visual monitoring company backed by Shell Ventures and Evok Innovations, and as CEO of Industrial Tech Acquisitions, Inc. (Nasdaq: ITACU), a SPAC or Special Purpose Acquisition Company that began trading on September 9th. iNet and Osperity are commercial partners providing oil and gas customers with intelligent visual monitoring solutions for remote and distributed field operations.
Said Dirk McDermott, iNet’s chairman, “Scott stepped into the CEO role at iNet at a critical juncture, stabilizing the Company and then leading it through high growth to become a major remote communications provider to the U.S. onshore oil and gas industry. On behalf of the board, I want to thank him for his significant contributions as a leader, board member and investor.” Added Mark Slaughter, iNet’s CEO, “Scott has been a valuable board member and advisor, and I look forward to continuing that relationship in his role as CEO of Osperity.”
Said Crist, “It has been an honor to serve in the top leadership role at iNet while also contributing at the board level. iNet has a great value proposition as a foundational enabler of digital technologies in remote industrial settings. I am highly confident in the future for iNet led by its talented employees.”
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About Infrastructure Networks
iNet is a private licensed 4G/5G-capable LTE network solutions provider serving industrial and governmental customers across 130,000 square miles of coverage in the Lower 48. The Company provides the first end-to-end, standards-based, dedicated wireless solution platform capable of supporting the full spectrum of IIoT solutions. iNet is based in Houston, Texas. Strategic investors include Altira Group LLC and Apollo Global Management, Inc. For more information, please go to the Company’s website: www.iNetLTE.com.