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| Avista
Labs Changes Name to ReliOn as Part of Company Relaunch
Publication date:
22-March-2004
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| Avista Labs, the leading provider
of high reliability fuel cell solutions for backup power applications,
has changed its company name to ReliOn effective today. The date coincides
with the start of the company's participation in the CTIA Wireless tradeshow,
the largest wireless telecommunications event in the United States, held
in Atlanta, Georgia.
The name change was completed as part of an overall relaunch of the company. The process began in July 2003 with a change in Avista Labs' financial status. Prior to that time, Avista Labs was a wholly-owned subsidiary of Avista Corp, an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. In August, 2003, Avista Labs completed its A round of capital funding, which resulted in an overall reduction of Avista Corp's percentage of ownership. The company has progressed from primarily a research & development lab to a commercial entity focused on sales and growth. That progress included the recent appointment of a new CEO, John D. Werderman. Mr. Werderman stated, The evolution of the company now provides an opportunity for rebranding. The name change to ReliOn better reflects the company's status as an independent privately-held corporation doing commercial business. Gary Flood, vice-president of marketing and business development explained, The selection of ReliOn as our new company name reflects our focus and commitment to providing reliable back up power solutions to our customers. As we move forward with our business plan, the name ReliOn positions us solidly as a company providing dependable power solutions to the telecommunications, government, and utility industries for their critical back-up power applications. ReliOn is displaying its fuel cell power solutions at CTIA Wireless, booth 4775, from March 22-24, 2004. About ReliOn:
This press release contains forward-looking
statements. These forward- looking statements involve known and unknown
risks, uncertainties, and other factors, which may cause ReliOn's actual
results, performance, or achievements to be materially different from any
future results, performance or achievements express or implied by such
forward-looking statements. The forward-looking statements made in this
press release are based on assumptions and judgments of management regarding
future events and results. These assumptions and judgments may prove to
be inaccurate as a result of a number of factors, many of which are beyond
ReliOn's control, and its actual results may differ materially from the
results contemplated in these forward-looking statements.
ReliOn
CONTACT: Sandra Saathoff of ReliOn, +1-509-228-6553 orssaathoff@relion-inc.com
Web site: http://www.relion-inc.com/
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