Award Recognizes the 100 “Most Promising” Companies Driving the Future of Technology
Albuquerque, NM — May 30, 2008 — Aspen Avionics today announced that it is a recipient of the Red Herring 100 North America, an award given to the top 100 private technology companies based in the region.
Aspen Avionics brings the most advanced technologies and capabilities from commercial and business aviation markets into general aviation (GA) cockpits — and budgets. Its flagship product line, the Evolution Flight Display system, replaces aging mechanical flight instruments, which still dominate 95% of the GA fleet, with the latest microprocessor-based systems incorporating solid-state sensors and flat panel displays. And it does so at prices that — for the first time in the industry — are less than the cost of the analog gauges it replaces. Red Herring's annual lists of top private companies are an important part of the company's tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google, eBay and Skype were spotted in their early days by Red Herring editors, and touted as leaders that would change the way we live and work. “Receiving this award from such a prestigious publication as Red Herring is a real honor for Aspen,” said John Uczekaj, President and CEO of Aspen Avionics. “We pride ourselves on our ability to develop revolutionary technology solutions to the challenges that face our industry, and Red Herring's recognition of our success is a tribute to our team's ability to build a business based on a new way to look at avionics,” Uczekaj continued. Red Herring's editorial staff rigorously evaluated more than 800 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development. “Red Herring's recognition of Aspen Avionics as a top 100 company in a non-traditional sector further validates the company's role as an industry leader,” said Len Rand, Managing Director at Granite Ventures, which led Aspen's Series A venture funding. “Aspen is revolutionizing light aviation and we're enjoying the ride.” Stephanie Spong of EPIC Ventures (formerly Wasatch Venture Fund), which led Aspen's Series B investment round, said, “We appreciate Red Herring recognizing in this somewhat unusual deal the classic ingredients of a great technology innovation story — passionate, committed founders who put together a world-class team to carry their revolutionary idea out to a mature industry that was hungry for something new. This company has what it takes to become the next major player in avionics.”
About Aspen Avionics, Inc.
Aspen Avionics specializes in bringing the most advanced technology and capability from the commercial and business aviation markets into general aviation cockpits — and budgets. Our products increase situational awareness and reduce pilot workload, making it even easier and safer to fly in both VFR and IFR conditions. The way we look at it, getting the latest avionics technology shouldn't always mean spending a lot of money — on equipment or installation. At Aspen Avionics, we design products to be affordable, easy to install, and easy to own. The company can be found on the web at www.aspenavionics.com, or may be reached at (505) 856-5034. Print-ready images of the Evolution Flight Display are available at www.aspenavionics.com/pressdownloads.
About Red Herring
Red Herring is a global media company which unites the world's best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters, and major events for technology leaders around the globe. Red Herring provides an insider's access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com.