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Article: Ambient Corporation and Consolidated Edison, Inc. Jointly Announce Con Edison's Investment in Ambient Corporation's Power Line Communications Technology.
- Article from:
- Business Wire
- Article date:
- October 3, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
NEW YORK--(BUSINESS WIRE)--Oct. 3, 2002
Ambient Corporation (OTC BB: ABTG), a leader in Power Line Communications (PLC) technology, and Consolidated Edison, Inc. (NYSE: ED), one of the nation's largest investor owned utilities, jointly announced today that they have concluded an investment agreement, wherein Consolidated Edison has undertaken a significant financial investment in Ambient Corporation's Power Line Communications technology.
Under the terms of the agreement, Consolidated Edison has committed to invest $1.4 million in Ambient Corporation over the next five months. This amount will represent approximately 50% of ...