Ambient Corporation Announces Partnership With Con Edison.Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 16, 2000 Historic Project Will Pilot PLTsolutions Inc.'s Proprietary Technologies to Transfer High-Speed Transmissions Over Con Edison's Power-Lines PLTsolutions Inc. a subsidiary of Ambient Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ABTG ABTG AquaBio Tech Group ) announced today that it has entered into a Memorandum of Understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. with Consolidated Edison This article is about the utility company in New York. For ComEd in Illinois, see Commonwealth Edison. Consolidated Edison, Inc. NYSE: ED is one of the largest investor-owned energy companies in the United States. Company of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Inc. (NYSE NYSE See: New York Stock Exchange : ED), the nation's largest investor owned energy company. This initial agreement provides for a phased testing program, which when completed should lead to a possible future deployment of PLTsolutions Inc.'s proprietary technology over Con Ed's powerlines. PLTsolutions Inc. has developed and owns proprietary technology that facilitates the transfer of Internet and high-speed data through existing power-lines. The same electric wiring that is ordinarily used to transmit electrical power to individual homes and businesses can also be used to transmit high-speed data. The technology is also designed to enable electric utilities and power companies to create a basket of utility products that will add value to utility operational services such as load balancing and automatic meter reading Automatic meter reading, or AMR, is the technology of automatically collecting data from water meter or energy metering devices (water, gas, electric) and transferring that data to a central database for billing and/or analyzing. . "We are very pleased to be among the first to explore the potential applications of this exciting new technology, which has great potential for our company and our customers," said Joan S. Freilich, Con Edison's Executive Vice President and Chief Financial Officer. "This agreement could chart the course of the way we transmit and receive high-speed data and content in the next century," stated PLTsolutions COO, Mark Isaacson. "Con Edison, as one of the nation's premier utility companies has a proven ability to envision and reach the next level of technological development. Harnessing existing power-lines to multi-media communication is that next plateau. We are extremely proud that Con Edison feels that PLTsolutions Inc. is the vehicle for getting them to that level." On July 11, 2000 Ambient announced the launch of a similar program with Sumitomo Electric Industries Sumitomo Electric Industries (住友電気工業 , Japan's largest manufacturer of electric wire and cable. The objective is to harness PLTsolutions Inc. proprietary technology to the Japanese market. On July 27, 2000 Con Edison announced that it had accepted a seat on PLTsolutions Inc.'s Advisory Board. Isaacson further stated, "We are proud to have Con Edison as our partner in this venture and look forward to a long and prosperous relationship." A recent New York Times supplement article stated that in power-line telecommunications "American utilities maybe sitting on a gold mine." "They are absolutely right," said Isaacson, "utilities are sitting on a gold mine. Sumitomo sees it, Con Ed sees it, and we at PLTsolutions Inc. are now positioned to bring that gold to the surface." About Consolidated Edison: Consolidated Edison, Inc. (NYSE: ED), is one of the nation's largest investor-owned energy companies, with approximately $7.5 billion in annual revenues and more than $15 billion in assets. The company provides a wide range of energy-related products and services to its customers through two regulated utility subsidiaries and four competitive energy and telecommunications businesses. For additional financial, operational and customer service information, visit the Consolidated Edison Inc. Web site at www.conedison.com. About Ambient: Ambient Corporation (OTC BB: ABTG) is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. incorporated in the United States that operates technology companies in both Israel and the US, focusing on Power Line Telecommunication (PLT PLT psittacosis-lymphogranuloma venereum-trachoma (group); see Chlamydia. PLT psittacosis-lymphogranuloma venereum-trachoma (group). ), telephony-related product offerings, Internet and E-Commerce for a variety of exciting new consumer applications, plus a basket of utility related services. This press release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Readers are referred to the documents filed by Ambient Corporation with the SEC, including the company's most recent report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and 10-Q, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Ambient is a trademark of Ambient Corporation registered in the U.S. Patent and Trademark Office. |
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