Company Receives Red Herring 100 North America Award

Aspen Avionics announced Friday that it is a recipient of the Red Herring 100 North America, an award given to the top 100 private technology companies based in the region.

Aspen's flagship product line, the Evolution Flight Display system, replaces aging mechanical flight instruments, which still dominate 95% of the General Aviation fleet, with the latest microprocessor-based systems incorporating solid-state sensors and flat panel displays that can easily be incorporated into existing panel layouts. System install costs for the Evolution are projected to average less than the cost of the analog gauges it replaces.

Red Herring's annual lists of top private companies are an important part of the company's tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google, eBay and Skype were spotted in their early days by Red Herring editors, and touted as leaders that would change the way we live and work.

"Receiving this award from such a prestigious publication as Red Herring is a real honor for Aspen," said John Uczekaj, President and CEO of Aspen Avionics. "We pride ourselves on our ability to develop revolutionary technology solutions to the challenges that face our industry, and Red Herring's recognition of our success is a tribute to our team's ability to build a business based on a new way to look at avionics," Uczekaj continued.

Red Herring's editorial staff rigorously evaluated more than 800 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development.

"Red Herring's recognition of Aspen Avionics as a top 100 company in a non-traditional sector further validates the company's role as an industry leader," said Len Rand, Managing Director at Granite Ventures, which led Aspen's Series A venture funding. "Aspen is revolutionizing light aviation and we're enjoying the ride."

Stephanie Spong of EPIC Ventures (formerly Wasatch Venture Fund), which led Aspen's Series B investment round, said, "We appreciate Red Herring recognizing in this somewhat unusual deal the classic ingredients of a great technology innovation story-passionate, committed founders who put together a world-class team to carry their revolutionary idea out to a mature industry that was hungry for something new. This company has what it takes to become the next major player in avionics."

FMI: www.aspenavionics.com, www.redherring.com