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.

FMI: www.aspenavionics.com