Ambient Appoints Chief Financial Officer; Addressing the Anticipated Market
Opportunities, Ambient Further Strengthens Management Team
BOSTON, Mar 22, 2005 (BUSINESS WIRE) -- Ambient Corporation (OTCBB: ABTG), a
leader in Power Line Communications (PLC) technology, announced today the
appointment of Ms. Lauren Farrell as the Company's Chief Financial Officer (CFO).
Ms. Farrell brings to Ambient over 15 years of significant financial management
experience including strategic planning, capital management and financial
modeling and analysis. She most recently served as Vice President for Bingham
Strategic Advisors, LLC, a management consulting firm specializing in capital
transactions. Ms. Farrell also served as Chief Financial Officer and Vice
President-Finance at two start-up organizations where she focused on building
the internal finance and accounting infrastructure as well as leading private
and public equity transactions totaling over $100 million. As CFO, Ms. Farrell
will be responsible for Ambient's overall financial plans and accounting
practices and will oversee the treasury, budget, administrative and related
legal activities of the organization.
"Lauren's skills and experience are a welcome addition to our growing leadership
team," stated John J. Joyce, President and CEO.
Ms. Farrell commented, "Since I first learned of the Ambient story and the
opportunity, I have been excited about the prospect of joining a company that is
at the forefront of power line communications. I look forward to contributing to
Ambient's growth and future success."
Additionally, Ambient has added several new positions and staff in order to
address the growing market opportunities anticipated in 2005. These positions
include a new Vice President of Business Development, a Director of
Manufacturing and Operations, and a Director of Engineering.
The new Vice President of Business Development, Mr. Matthew Hicks, was formerly
the Director of Corporate Development and Operations at Amperion. Prior to
helping found Amperion as a Senior Director at Redleaf Group, Mr. Hicks was in
General Electric's strategic investing arm, GE Equity, where he led investments
and alliances in the energy technologies sector. Mr. Hicks will be responsible
for identifying and developing new business opportunities as well as maintaining
and expanding established relationships.
The Director of Manufacturing and Operations, Mr. Michael Quarella, came to
Ambient from Verso Technologies, formerly MCK Communications. Mr. Quarella will
introduce risk management techniques in support of new product introduction
practices to meet time-to-market, quality, and cost requirements. Mr. Quarella
will also be responsible for developing and maintaining a highly responsive and
dedicated customer service organization.
The Company's Director of Engineering, Mr. David Goldblatt, was recently
promoted from within the Company. Mr. Goldblatt will manage and oversee the
continued expansion of Ambient's engineering capabilities and create efficient
processes that enable the continued growth of Ambient's leadership position in
the industry.
"All of us at Ambient welcome Lauren and the rest of the new managers to the
team," Mr. Joyce further stated, "We have brought aboard significant additions
that only add to Ambient's already extensive talent pool. We look forward to
working with our expanded management team as we continue to evolve from a
development stage company to a dynamic and flexible company focused on
addressing the market opportunities in PLC."
About Ambient Corporation
Ambient Corporation (OTC BB: ABTG) is a development stage company engaged in the
design, development and marketing of equipment and technologies that utilize
existing electrical power medium voltage and low voltage distribution lines as a
medium for the delivery of broadband and other communication services. The use
of an electric power distribution system as a high-speed communication medium is
commonly referred to as "power line communications" or "broadband over power
lines." Visit us at www.ambientcorp.com.
SOURCE: Ambient Corporation
CONTACT: Ambient Corporation
Anna E. Croop, 617-332-0004
Director of Corporate Communications
anna.croop@ambientcorp.com
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