SUGAR LAND, Texas, Oct. 21, 2005 (PRIMEZONE) -- Gridline Communications Holdings Inc., a publicly-held Delaware corporation, announced today that the company has been selected to present its Broadband over Power Lines (BPL) technology business at the prestigious, invitation-only Private Equity XIV: National Venture Forum on November 16, 2005, in New York, NY. This event will allow Gridline to introduce itself and its cutting edge technology to a large, receptive audience of some of the most influential decision-makers in the business and venture capital world as well as a significant group of large private investors.
BPL technology enables businesses and homes to receive Internet services through their existing electrical lines. This means that customers can download movies, music, news in any room in their homes or offices through electrical outlets, at fast speeds, and often at lower prices than they are currently paying for Cable TV and Internet access. Speeds can range up to 200 Mbps full-duplex, a much faster and a more robust bandwidth in comparison with what is attainable with current DSL or cable modem broadband access technologies.
"The Private Equity Forum presents Gridline with a unique opportunity to showcase its technology, concepts and both domestic and international rollout plans to a large number of some of the most well-connected and influential private and institutional investors and corporations around. These are the type of backers that can help speed our market entry and help us to more quickly establish Gridline as the premier provider of BPL and many of its underlying value-added services, in what is anticipated to be an absolutely amazingly fast growing global market. We already have plans to launch our enhanced multiple-application BPL service in North and South America and the Caribbean in the first half of 2006," declares Blaize Kaduru, CEO of Gridline Communications, Inc.
Federal Energy Regulatory Commission Chairman Pat Wood, III and erstwhile Federal Communications Commission Chairman Michael K. Powell previously issued a joint statement encouraging development and adoption of broadband over power line (BPL) communications, saying that "(BPL) technology holds tremendous potential, not just in providing new avenues for communications services, but in helping electricity systems to operate more efficiently and reliably. It's a potential win-win for customers, and the most important thing we can do here in Washington is help make sure existing rules and regulations don't get in the way of this promising new technology." (http://www.ferc.gov)
Gridline, along with governments, utility companies and broadband firms are quickly forming joint ventures to deliver this technology throughout the U.S. and into international markets around the world. Investment dollars are pouring into BPL technology from leading corporations and venture funds. Most recently, a $100 million investment was made by IBM (NYSE:IBM) and Google (Nasdaq:GOOG).
"The worldwide market for BPL technology and deployment is tremendous and is expected to grow exponentially over the next decade. We believe that Gridline is uniquely positioned to take a leadership role in the roll-out of BPL and quickly establish itself as a leader in this emerging industry. One of our main advantages is that in addition to high-speed Internet over power lines, Gridline will also be able to deliver VoIP, security, streaming video and long distance learning, making us a truly full-service provider," continues Kaduru.
About Private Equity XIV: National Venture Forum
The forum, one of the nation's best attended private equity events, is expected to attract a large group of highly-qualified investment professionals, including partners and principals from 150+ leading investment partnerships, private equity funds and venture capital firms. It should provide a highly effective and prestigious venue for management to deliver its vision to a captive audience of receptive investors and direct funding sources. The select companies that have presented at this forum over the past four years have gone on to attract hundreds of millions of dollars from institutional and individual investors. Only one company per industry segment is accepted. The event is produced by Starlight Capital (www.starlightcapital.com).
About Gridline Communications Holdings, Inc.
Gridline Communications Corp. is a Sugar Land, Texas-based corporation that is focused on Broadband over Power Line (BPL) deployment using proven BPL technologies, coupled with proprietary intellectual properties, to provide large throughput, high speed bandwidth capabilities and a variety of market driven applications such as VoIP telephony, security, streaming video and long distance learning. Additional information can be found by visiting its website at www.gridlinecommunications.com.
Forward-Looking Statements:
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the Company and its subsidiaries. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by the Company may differ materially from these statements due to a number of factors. Any forward-looking statements speak only as of the date made. Statements made in this document that are not purely historical are forward-looking statements, including any statements as to beliefs, plans, expectations, or intentions regarding the future. Risk factors that may cause results to differ from projections include, without limitation, loss of suppliers, loss of customers, inadequate capital, competition, loss of key executives, declining prices, and other economic factors. The Company assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.