Ambient Corporation and ELO Sistemas Eletronicos Partner to Bring Advanced Smart Grid Solutions to South America
Ambient Corp. (USOTC:AMBTQ)
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NEWTON, Mass. and SAO PAULO, Nov. 8, 2012 /PRNewswire/ -- Ambient Corporation (NASDAQ: AMBT), provider of a secure, flexible and scalable smart grid communications and applications platform, and ELO Sistemas Eletronicos, a leading metering technology provider based in Brazil, together announced their partnership to bring smart grid communications technology to South America. The partnership combines Ambient Smart Grid® Platform communications technology and network management software with ELO's leadership position in electronic meters and smart meter solutions.
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Ambient's flexible platform enables utilities to deploy and integrate multiple smart grid applications and technologies, in parallel, on a single communications infrastructure. Delivering best in class, end-to-end smart grid technology solutions, Ambient partners with systems integrators, smart grid technology vendors and communications service providers.
The partnership will enable ELO to bring advanced communications technologies for smart meter reading applications to their utility customers. The two companies expect to have the integrated system ready for pilot in 2012 in preparation for volume rollouts beginning in 2013.
"We are excited to provide our customers with the added benefits of Ambient's IP, standards-based, open platform architecture ensuring interoperability of technologies," said Marcos Rizzo, Vice President, Business Development for ELO Sistemas Eletronicos. "By leveraging Ambient's communications platform, we will deliver greater grid visibility, control and financial returns for our customers."
This partnership permits ELO to sell and deploy Ambient Corporation's award-winning technology platform, allowing ELO to respond quickly, cost-effectively and efficiently to a wide range of utility needs.
"The leading solutions provider in Brazil and throughout South America, ELO is well positioned for growth in this emerging market," said Jim Fisher Vice President, Business Development for Ambient Corporation. "ELO is building a robust partnership program to better position themselves which we are pleased to be collaborating."
About Ambient Corporation
Ambient designs, develops and sells the Ambient Smart Grid® communications platform. The Ambient Smart Grid products and services include communications nodes; a network management system, AmbientNMS®; integrated applications; and maintenance and consulting services. Using open standards-based technologies along with in-depth industry experience, Ambient provides utilities with solutions for their smart grid initiatives. Headquartered in Newton, MA, Ambient is a publicly traded company (NASDAQ: AMBT). More information on Ambient is available at www.ambientcorp.com.
Except for historical information, this press release contains statements that may be deemed to be "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These include statements relating to the diversification of our customer base, the introduction of new products, further development and marketing of our communications platform and cultivating projects with potential customers, among others. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry and 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, which could have a material adverse effect on our operations and future prospects including, but not limited to, our ability to retain and attract customers, particularly in light of our dependence on a single customer for substantially all of our revenue; our expectations regarding our expenses and revenue, including our expectations that our research and development expenses and selling, general and administrative expenses may increase in absolute dollars; our material weakness in internal control over financial reporting; anticipated trends and challenges in our business and the markets in which we operate, including the market for smart grid technologies; our expectations regarding competition as more and larger companies enter our markets and as existing competitors improve or expand their product offerings; our plans for future products and enhancements of existing products and market acceptance of these products; realizing expected sales from our backlog of orders; our ability to meet new customers' quality standards, specifications, process-related performance requirements or delivery schedules; our anticipated cash needs and our estimates regarding our capital requirements; and our anticipated growth strategies. We undertake no obligation to publicly update or revise any forward-looking statements. Further information on the company's risks and uncertainties is available in our filings with the Securities and Exchange Commission.
Ambient®, Ambient Smart Grid® and AmbientNMS® are registered trademarks of Ambient Corporation with the U.S. Patent and Trademark Office. Ambient MiniNode, Ambient MicroNode and AmbientPQM are trademarks of Ambient Corporation.
About ELO Sistemas Eletronicos
Founded in 1980, ELO Sistemas Eletronicos is a leading metering provider for the Latin America market. With offices in Brazil and Chile, ELO is recognized as a key supplier of quality electronic equipment and systems to the Brazilian and Latin American electricity supply market. ELO provides integrated product and system packages to utilities to automate processes, such as the collection and treatment of metering data. ELO is a recognized leader and innovator in the Brazilian energy market. More information about ELO can be found at http://www.elonet.com.br
SOURCE Ambient Corporation