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MHT's Efrain Viscarolasaga: Preparing the smart grid for more power
Ambient Corp., a maker of communications nodes and equipment for sending data over power lines, has entered into a partnership with electronics maker Bel Fuse Inc. of New Jersey aimed at accelerating the development of smart-grid related products.
Under terms of the agreement, Newton-based Ambient and Bel Fuse will assign design engineers and other resources to the identification, development and manufacture of a variety of products aimed at utilities rolling out smart grid technologies and applications. The program will be executed “aggressively” according to a company statement and will support Ambient’s growing sales of its communications node.
Financial terms of the agreement were not provided.
Ambient’s node is currently in use with North Carolina-based Duke Energy Corp. as part of a pilot test in Cincinnati. The device also recently received network approval through Verizon Communications Inc., allowing the node to connect to the communications carrier’s EVDO network and bridging the gap between power networks and communications networks.
New York-based hedge fund Vicis Capital Master Fund is a major investor in Ambient, which trades its stock on the over-the-counter bulletin board. With the rise in interest in smart grid technologies, Ambient grew its revenue last year to $12.6 million, up from $2.3 million in 2007.
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