BOSTON, Jan. 26 /PRNewswire-FirstCall/ -- Ambient Corporation (OTC Bulletin Board: ABTG) today announced the receipt of purchase orders of approximately $9.9 million for the supply of its fourth generation smart grid node, the Ambient® X-3100, and related technology. The Company anticipates delivery of product to substantially be completed during the first six months of 2010.
John J. Joyce, President and CEO of Ambient Corporation stated, "We have spent more than 10 years collaborating with the innovative and early adopters of the smart grid space. To have our team's vision of a platform based on incorporating multiple communication technologies within one enclosure culminate in this latest product offering is gratifying. The initial success of the X-3100 positions the Ambient Smart Grid® platform as a market leading solution, unifying best-in-class products to the utility industry."
Ambient's X-3100 has the networking ability to act as a bridge, router or gateway on the electrical grid and is the Company's third generation of smart grid nodes to be certified for deployment on Verizon Wireless' network.
Utilities can now ramp up their smart grid programs by deploying smart grid assets at strategic locations, connecting current and future smart grid devices without an upfront investment in a full build-out. The X-3100's open standards and IP-based technology provides a communications platform, via both wired and wireless technologies, and can integrate with other smart grid devices, regardless of manufacturer or communication protocol.
For more information on the commercial introduction of the Ambient X-3100 smart grid node, see the Company's press release of January 13, 2010.
About Ambient Corporation
Ambient designs, develops and markets Ambient Smart Grid® communications technologies and equipment. Using 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, MA, Ambient is a publicly traded company (OTC Bulletin Board: ABTG). More information on Ambient is available at www.ambientcorp.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, whether the scheduled delivery dates are rescheduled or cancelled in whole, our ability to raise additional capital when needed, the risk of market acceptance of new products and underlying technologies, changes in economic conditions generally and the smart grid market specifically, changes in technology, legislative or regulatory changes that affect us, the sufficiency of working capital, introduction of competing products and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1a of our Annual Report on Form 10-K for the fiscal year ended December 31, 2008, 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, Communications for a Smarter Grid and AmbientNMS are registered trademarks of Ambient Corporation with the U.S. Patent and Trademark Office.
SOURCE Ambient Corporation