On April 1, 2008, Ambient Corporation (“Ambient “ or the "Company") and Duke Energy (“Duke”), one of the largest electric power companies in the United States, entered into a Commercial Deployment Agreement (the “Agreement”) pursuant to which Ambient Smart Grid equipment and technology will be deployed over portions of Duke’s electric power distribution grid.
Under the terms of the Agreement, Duke will be purchasing from the Company Smart Grid equipment and services valued at approximately $10.7MM. The Company and Duke will both exert commercially reasonable efforts including, without limitation, the dedication of appropriate staff, facilities and equipment as well as access to facilities and sites to carry out the Deployment. In addition to the equipment to be supplied by Ambient, the Company will be providing engineering and technical support as needed to design, support and assist in the completion of the Deployment.
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Previous articles: Duke Energy's spending plan has nearly $1 billion for 'smart grid'
September 18. 2007
BPL TODAY
Duke Energy plans to spend $975 million over the next five years on what it calls the "utility of the future . . . keep reading(subscription needed) BPL Today
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DUKE ENERGY pushes for AMBIENT/DS2 G2 200Mbps BPL gears in N. Carolina
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Ambient Corporation (OTCBB: ABTG) has Expanded Broadband over Power Line Deployment with DUKE ENERGY (NYSE: DUK)IMHO ... "The above IS A GREAT NEWS for BPL stock investors" !!!
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