Thu, Feb 23, 2006
Also Receives 'Innovate Albuquerque' Award
Upstart avionics design
and development company Aspen Avionics announced earlier this week
the company recently closed a Series A investment round. The
company has also received the "Innovate Albuquerque" award from the
Greater Albuquerque (NM) Chamber of Commerce.
The "Innovate Albuquerque" award is granted annually by the
chamber to 10 successful entrepreneurial companies in Albuquerque.
Although a wide range of companies are represented by the awards,
Aspen's selection comes as no surprise as the city of Albuquerque
works to bolster its aerospace industry. This is the second year an
aero-company has received the award: Eclipse Aviation won one of
the inaugural Innovate Albuquerque awards in 2005.
"We are honored to receive this recognition," said Peter Lyons,
Aspen’s CEO. "The credit for this most recent award belongs
to the entire team at Aspen who share the vision and the passion of
the founders for making advanced display technology more affordable
for owners of older aircraft."
The Innovate Albuquerque award also comes on the heels of ANN's
recognition of Aspen's flagship AT300 Hazard Awareness Display
(below) as one of the top ten aero-products of
2005.
Aspen Avionics also announced Wednesday the recent closure of a
Series A investment round. Participants in the round included
Granite Ventures, vSpring Capital, Fort Washington Capital
Partners, and Wasatch Ventures.
"This round of financing gives us the capital we need to expand
our product offering and accelerate our penetration into the
market," said Lyons. "We will be adding to our team in all business
areas this year, but especially in engineering, sales, and
marketing."
To accommodate this growth, the company has recently completed a
move into a 7,000 square foot facility located near the Albuquerque
International Sunport.
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