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Ambient Corporation Announces Pending Relocation of its World Headquarters to New York City.


Business Editors/High-Tech Writers

NEW YORK--(BUSINESS WIRE)--April 3, 2001

Closer Proximity to Its Powerline Telecommunications

Technology Partner 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.
 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
 

Cited as a Factor in the Move

Ambient Corporation (OTC OTC

See: Over-the-counter.


OTC

See over-the-counter market (OTC).
 BB:ABTG ABTG AquaBio Tech Group ), the world leader in Powerline Telecommunications Technology (PLT PLT psittacosis-lymphogranuloma venereum-trachoma (group); see Chlamydia.

PLT

psittacosis-lymphogranuloma venereum-trachoma (group).
), announced today that it will commence relocation of its world headquarters to New York.

Ambient Corp., currently headquartered in Brookline, Massachusetts Brookline is a town in Norfolk County, Massachusetts, which borders on the cities of Boston and Newton. As of the 2000 census, the population of the town was 57,107. Etymology
Brookline was known as the hamlet of Muddy River
, will begin a phased transfer of its executive, financial, and operational functions to New York over the next months. Included in the relocation to New York will be Ambient's Chief Executive Officer, Chief Financial Officer, and Chief Operating Officer Chief Operating Officer (COO)

The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president.
, among other staff.

Present plans call for Ambient's technology staff and operation to remain in Brookline, Massachusetts in light of the accessibility and close working relationships it has developed with the scientific and technology communities in the region, and the feeder relationships available from the large number of quality Universities in the Boston area.

Mark Isaacson CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Ambient Corp. stated, "As Ambient's Powerline Telecommunications Technology moves towards commercialization, it is only logical that we move closer to our anchor utility partner Consolidated Edison of New York (NYSE NYSE

See: New York Stock Exchange
:ED). New York is also the world center of finance and media. It makes good business sense for us to be here, and will allow us more time with our families based on the amount of time we all currently spend in New York."

The outstanding relationship between Ambient and Consolidated Edison of New York, the nation's largest investor owned utility, has been growing. Last July, Consolidated Edison accepted a seat on the Ambient Corp. Advisory Board. In August 2000, Ambient Corp. and Consolidated Edison announced a pilot project where Ambient's proprietary technology would be tested over Consolidated Edison's powerlines. In November 2000, Ambient Corp. jointly announced with Consolidated Edison the successful first phase testing of Ambient's Powerline Telecommunications technology.

On March 20, 2001 Ambient Corporation and Bechtel Telecommunications, announced a strategic partnership and technical services agreement, wherein Bechtel will support Ambient in the market delivery of Ambient's PLT technology by providing general contracting related to system mapping surveys, demonstrations, lab testing, project management, crew support, and commercial implementation support. Bechtel will also assist Ambient with compliance with utility commission or utility board regulations and guidelines, and applicable state and federal laws, both in the United States and abroad.

Ambient Corporation has developed and owns innovative and proprietary technology that facilitates the transfer of Internet and high-speed data through ordinary electric powerlines. 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.

Ambient's Powerline Telecommunications technology (PLT) is designed to enable utilities and power companies to partner with Ambient in creating baskets of utility and consumer services.

These utility services are expected to include such features as 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.  (AMR (1) (Adaptive Multi-Rate) A variable rate speech codec selected by the 3GPP for the 3G evolution of the GSM cellphone system (WCDMA). Using the Algebraic CELP (ACELP) compression technology, AMR provides toll quality sound at transmission rates from 4.75 to 12. ), load switching/balancing, demand management, outage reporting, real-time billing, and alarm monitoring. Consumer services may feature Internet, telephony, video-on-demand, content, and smart appliances. Both baskets of services will be achieved using Ambient's Powerline Telecommunications technology (PLT) across electrical powerlines and utilizing existing infrastructure.

Recent announced tests held in Osaka, Japan exceeded the results of the initial Consolidated Edison tests. Activity over Consolidated Edison's system has been ongoing with additional positive results.

On January 25, 2001, Ambient Corp. announced it had conducted in Hong Kong the first ever successful testing of its Powerline Telecommunications Technology in an actual residential building. These tests established successful connectivity from the electric distribution closet, to the furthest apartments on all 8 floors. In addition connectivity between each floor was successfully proven. Throughput data rates of up to 8 Mbps were recorded, with raw speed exceeding 25 Mbps.

On January 31, 2001 Ambient announced a development and licensing agreement with Cisco Systems Inc. (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
:CSCO CSCO Cisco Systems Incorporated (stock symbol)
CSCO Chief Supply Chain Officer
).

"We are moving into a new and exciting phase of Powerline Telecommunications technology", said Mark Isaacson CEO of Ambient Corp. "The strong and growing relationships with Consolidated Edison and Bechtel are just part of Ambient's story. As we announce new utility partnerships and accelerate our testing, the coming months will hopefully bring new and fast paced developments in this revolutionary and disruptive technology. It is truly appropriate that we move to the most exciting and fast paced city in the world."

About Ambient Corporation:

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 focusing on Powerline Telecommunication (PLT), telephony-related product offerings, Internet, and E-Commerce for a variety of exciting new consumer applications, plus a basket of utility related services. www.ambientcorp.com

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.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Apr 3, 2001
Words:851
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