Ambient Corporation and Sumitomo Electric Industries, Ltd. to Test Power Line Telecommunication Technology in Japan.Business Editors NEW YORK--(BUSINESS WIRE)--July 11, 2000 Ambient Corporation's (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: ABTG ABTG AquaBio Tech Group ) 90% owned subsidiary, PLT PLT psittacosis-lymphogranuloma venereum-trachoma (group); see Chlamydia. PLT psittacosis-lymphogranuloma venereum-trachoma (group). Solutions Inc. (PLT Inc.) and Sumitomo Electric Industries Sumitomo Electric Industries (住友電気工業 , Ltd. (SEI), Japan's largest manufacturer of electric wire and cable, announced the signing of a Letter Of Intent (LOI LOI Letter of Indemnity (international trade and carriage business) LOI Letter Of Intent LOI Loss On Ignition LOI Letter of Inquiry LOI Lack Of Information LOI Lack of Interest LOI Letter of Invitation LOI List Of Items ) for a controlled pilot program in Japan of cutting-edge Power Line Telecommunication (PLT) technology developed by PLT Inc. PLT Inc. and Sumitomo are planning to jointly present the technology to Japanese power utility companies. The parties are in the process of structuring the pilot program. PLT technology is designed to facilitate Internet high-speed data transfer by way of existing electric power lines. The same electrical wiring Electrical wiring in general refers to insulated conductors used to carry electricity, and associated devices. This article describes general aspects of electrical wiring as used to provide power in buildings and structures, commonly referred to as building wiring. that carries electrical power to individual homes and business can also transmit high-speed data. PLT Inc. has developed proprietary technologies which overcome existing infrastructure limitations precluding the use of electrical power lines for high speed data transfer, making PLT economically viable as the prime broadband channel for homes and offices. Sumitomo Electric Industries and Ambient Corporation have agreed to work together to study the feasibility of applying PLT Inc's technology to the Japanese PLT market. "Sumitomo Electric Industries is optimally positioned to deploy our technology in Japan and provide a real life environment to demonstrate its extensive benefits," said Ambient Corporation's Chairman Michael Braunold. Full deployment of PLT Inc's technology in Japan will depend on the results of the pilot program and is subject to the resolution of various deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. issues governing the Japanese utility companies. 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 invests in and operates technology companies in both Israel and the US, focusing on E-commerce, Internet, Power Line Telecommunication (PLT) and telephony-related product offerings for a variety of exciting new consumer applications. About Sumitomo: Sumitomo Electric Industries, Ltd. (SEI), with headquarters in Tokyo and Osaka, is Japan's largest manufacturer of electric wire and cable. With annual revenues in 2000 in excess of Yen 1,309 Billion (US$12.3 billion), SEI has positioned itself as a key player in the global information revolution taking place today. SEI is traded on the Tokyo exchange (No. 5802) 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. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion