BASKING RIDGE, NJ, and BOSTON, MA — Verizon Wireless and Ambient Corporation (OTCBB: ABTG) today announced a joint marketing agreement intended to facilitate the deployment of a host of smart grid projects around the country. The projects will allow utilities to transmit data from both residential and commercial meters over the nation's most reliable network to the utility companies' in-house systems.
Significant to the utility industry's move to the more efficient open standards-based technologies necessary for smart grid applications is access to a robust communications platform. According to Mark Bartolomeo, vice president enterprise data sales for Verizon Wireless, the company's Evolution-Data Optimized (EV-DO) 3G network provides a secure, high-speed path for carrying data today and as the demand increases in the future.
"We've seen significant interest and growth in the utility sector for smart technologies," Bartolomeo added. "This joint marketing agreement helps us provide utility customers with a solution designed to aid them in planning for long-term growth and profitability. This comprehensive platform holds great promise for extending smart grid applications nationwide."
Ambient's X-3000 node, running on Verizon Wireless' network, provides the communications platform that enables data from residential and commercial smart meters, appliances and other applications to be transported via IP-based technologies over a utility's smart grid system. This platform allows for two-way efficient collection, analysis and management of energy data to promote more reliable, affordable and environmentally friendly operations.
"As the demand for smart grid applications and bandwidth expands and becomes part of the nation's energy infrastructure, having the opportunity to offer a solution that allows for such growth in demand should significantly enhance the utilities' ability to more efficiently serve their customers and reduce their carbon footprint," said John J. Joyce, president and chief executive officer of Ambient Corporation.
The Verizon Wireless network provides Ambient's X-3000 with a ubiquitous, reliable and secure data communications backhaul for the Ambient Smart Grid platform, which is designed to support such services as advanced metering infrastructure (AMI), energy management, real-time pricing, demand side management (DSM) / direct load control, and system monitoring.
In January, the X-3000 was certified to run on the Verizon Wireless network through its open development program. Verizon Wireless' open development program is driven by the company's desire to encourage innovation, give businesses new wireless choices, and quickly address opportunities to expand the wireless market.
About Verizon WirelessVerizon Wireless operates the nation's most reliable and largest wireless voice and data network, serving more than 80 million customers. Headquartered in Basking Ridge, N.J., with more than 85,000 employees nationwide, Verizon Wireless is a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE and LSE: VOD). For more information, visit www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.
About Ambient Corporation Ambient designs, develops and markets Ambient Smart Grid communications technologies and equipment. Utilizing proprietary, open standards-based technologies along with in-depth industry experience, Ambient provides utilities with solutions for creating smart grid communication platforms and technologies. Headquartered in Newton, M.A., Ambient is a publicly traded company (OTCBB: ABTG). More information on Ambient is available at www.ambientsmartgrid.com.
This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry, and that reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, market acceptance of new products, changes in economic conditions generally and the smart grid market specifically, changes in technology, legislative or regulatory changes that affect us, the introduction of competing products and services, capital expenditure plans, the availability and sufficiency of working capital, and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1 of our Annual Report on Form 10-KSB for the fiscal year ended December 31, 2007, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason.
Ambient, Ambient Smart Grid, It's Time to Teach an Old Grid New Tricks and AmbientNMS are registered trademarks of Ambient Corporation with the U.S. Patent and Trademark Office.####