12/2/2004
Amperion, Inc. Raises over $10 Million in 1st Close of Preferred Equity Financing
Amperion, Inc., the leading provider of Broadband over Power Line (BPL) equipment, today announced it has raised over $10 million as part of the 1st close of a preferred equity round of financing. The syndicate of strategic and financial investors includes Aspen Ventures, Argo Capital, Global Internet Ventures, Pennsylvania Power and Light, Redleaf Group and Telkonet. The capital will be used for market expansion and for continued development of the second generation of the Amperion Connect Solution.

“Raising money in today's equity market requires more than the usual elements of a solid management team, an attractive market and proven technology as typically sought after by investors,” remarked Phil Hunt, CEO of Amperion Inc. “Companies must also demonstrate huge opportunity from both technical innovation and market growth. Our investors recognize the tremendous value BPL technology offers utilities, service providers and underserved communities.”

“Amperion has built a solid foundation for growth as demonstrated by its industry leading technological approach, a growing customer base and its driving force in the regulatory arena,” remarked Bill Melton of Global Internet Ventures. “Amperion's BPL technology is the capstone in the development of smart grid applications and additionally serves as an alternative network for broadband delivery both in the US and abroad. We are pleased to invest in Amperion and look forward to a profitable and exciting future.”