Ambient Corporation and Southern Telecom Announce Testing and Development Agreement for Power Line Communications.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 23, 2002 Ambient Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:ABTG ABTG AquaBio Tech Group ), and Southern Telecom(R) Inc. a subsidiary of Southern Co. (NYSE NYSE See: New York Stock Exchange : SO) that provides long-haul and metro dark fiber, announced today that they have jointly entered into a comprehensive testing and development agreement for Power Line Communications (PLC). PLC applies new technologies to existing electrical distribution systems to allow those systems to take on a secondary role as broadband data pipelines. The agreement provides for joint development and testing of Ambient's first generation products over Southern Telecom's utility affiliates' test facilities and electrical power grid. The testing will include both overhead and underground systems, as well as medium and low voltage Low voltage is an electrical engineering term that broadly identifies safety considerations of an electricity supply system based on the voltage used. While different definitions exist for the exact voltage range covered by "low voltage", the most commonly used ones include "mains levels. In the utility industry, PLC could be used to deliver applications, including 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. , outage notification and energy management. "We are excited to be in research and development with Ambient, and have a strong interest in understanding Power Line Communications technology Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry ," said Leif Ericson, business development manager for Southern Telecom. "Our evaluation will focus on the viability of the technology and how it can be leveraged to deliver core applications such as energy management and automatic meter reading to our utility affiliates." Additionally, the agreement provides for the issuance to Southern Telecom of warrants in excess of 2 million shares of Ambient Corporation's common stock. These warrants are valued at current market price and are exercisable through December 31, 2004. "This testing and development agreement marks a progressive approach by Southern Telecom and denotes its interest in the potential and viability of Ambient's Power Line Communications technology," said John Joyce, 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. "Realistically, we plan to be fully commercialized by first quarter 2003." 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 focuses on Powerline Communication telephony-related product offerings, Internet and E-Commerce for a variety of exciting new consumer applications, and a basket of utility related services. www.ambientcorp.com About Southern Telecom(R) Southern Telecom(R) is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Southern Company that provides long-haul and metropolitan dark fiber connecting Atlanta with other smaller cities throughout the Southeast. The company also provides network elements such as rights of way, dark fiber, conduit, colocation and other related maintenance services. Southern Telecom is certified in Alabama, Florida, Georgia and also at the federal level. For more information about Southern Telecom, please call (678) 443-4120 or visit www.southern-telecom.com. About Southern Company With nearly four million customers and more than 34,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier super-regional energy company in the Southeast and a leading U.S. producer of electricity. Southern Company owns five electric utilities, a fast-growing competitive generation company and an energy services business, as well as fiber optics fiber optics, transmission of digitized messages or information by light pulses along hair-thin glass fibers. Each fiber is surrounded by a cladding having a high index of refractance so that the light is internally reflected and travels the length of the fiber and wireless communications. Southern Company brands are known for excellent customer service, high reliability and retail electric prices that are 15 percent below the national average. Southern Company has more than 500,000 shareholders, making its common stock one of the most widely held in the United States. Visit the Southern Company Web site at www.southerncompany.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. Southern Telecom is a registered trademark of Southern Telecom in the United States. All rights reserved. |
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