Anterix is the largest holder of licensed 900 MHz spectrum in the U.S. The company sells or leases this spectrum to electric utilities and critical infrastructure operators to enable private LTE broadband networks. Utilities use these networks to monitor and control grid infrastructure through applications like distribution automation, smart meters, and remote sensors. Because the 900 MHz band offers superior building penetration and rural coverage, it provides the secure, dedicated connectivity utilities require for mission-critical operations. Anterix occupies a unique structural position because FCC rules require broadband license applicants to hold over 50% of licensed channels in a county, a threshold only Anterix currently meets in nearly all U.S. counties. The company's business model involves clearing incumbent narrowband users to obtain broadband licenses for its customers. This model is capital-light because utilities fund their own physical network deployments. Anterix also generates recurring revenue through ancillary products like CatalyX, a connectivity management service, and TowerX, which provides streamlined access to tower sites. Growth strategy includes upgrading customers to higher capacity 10 MHz networks and expanding into other critical infrastructure sectors such as railroads, ports, and energy. Anterix works directly with utility executives and regulators to ensure spectrum costs can be included in regulatory rate bases.