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Tuesday, July 24, 2007

Aspen Shows Whole New Dash

By Andrew Webb
Copyright © 2007 Albuquerque Journal; Journal Staff Writer
    Aspen Avionics on Monday showed off its new line of all-digital flight displays and announced it had received a fresh $8.5 million injection of cash.
    Aspen, which is based in Albuquerque, introduced the Evolution Flight Display system at the Experimental Aircraft Association's AirVenture airshow in Oshkosh, Wis.
    The suite of devices allows pilots to replace the analog instruments in older planes, such as Cessnas, with state-of-the-art, digital displays that fit in standard instrument panels. New features and capabilities can be added with simple software upgrades.
    "We believe that installing the latest avionics technologies and safety advances in general aviation aircraft shouldn't have to mean emptying your bank account," Doug Cayne, president of sales and marketing, said in a news release.
    Aspen's first product, the AT 300 Hazard Awareness Display, was released in 2005 and has received industry accolades.
    The new devices, Cayne said, can replace all of an older aircraft's suite of analog instruments, including altitude, airspeed and directional indicators, as well as navigational devices.
    All of Aspen's products are assembled in Albuquerque.
    Also on Monday, the company announced it had received a Series B investment round totaling $8.5 million from Wasatch Venture Fund and Sun Mountain Capital.
    Wasatch, based in Utah with offices in Albuquerque, has some investment funds from the state. Sun Mountain, based in Santa Fe, manages a pool of state permanent funds for investment in startup companies.
    Aspen's first round of funding came in 2005 from Granite Ventures, Fort Washington Investment Advisors, vSpring Capital and Wasatch.
    Cayne said the new funds would be used to further expand the company, including improvements to its sales and distribution network.
    "This round of funding ensures that Aspen has the resources to continue to build a major avionics company, delivering state-of-the-art products and world-class support to our customers," Aspen president and CEO John Uczekaj said Monday.