Echelon Joins European Smart Metering Industry Group (ESMIG)
(San Jose, CA - May 20, 2010) - Echelon Corporation (NASDAQ: ELON) announced today that it has been accepted as a member of the European Smart Metering Industry Group (ESMIG). The group provides knowledge and expertise to key stakeholders in the European smart metering market on smart metering and related communications, including European Union member states governments and institutions, authorities, regulators, consumers and utilities.
ESMIG members are the leading meter manufacturers, communication solution vendors, IT companies and system integrators in the European smart metering market. Member companies represent the entire value chain for smart metering – from meter manufacturing, software, installation, and consulting, to communications, data management and system integration for electricity, water and gas utilities.
By giving support to the European Union and its member states, as well as through co-operation and partnerships with relevant stakeholders, the group aims to assist in the development of national and European-wide introduction, rollout and management of smart metering solutions, and the identification and promotion of best practice solutions for smart multi-utility metering.
"ESMIG is pleased to accept Echelon as a member and we believe they will add valuable insight to the organization. Echelon's expertise and proven experience in smart grid infrastructure – based upon many deployed projects across Europe – will help in the development of smart metering and smart grid infrastructures based on open standards and interoperable solutions for Europe," said Dr. Howard Porter, ESMIG managing director.
"ESMIG plays a key role in defining the landscape of the European smart metering and advanced metering infrastructure market," said Jeff Lund, Echelon's vice president business development. "We believe that a tipping point has been reached with enough real-world implementation results to clearly illustrate the significant benefits from advanced metering infrastructures. Collaborating with other businesses and organizations will help drive both adoption and new innovations in the industry that will accelerate the current transformation and set the stage for a very promising, energy-wise future. We look forward to gaining much knowledge from others members as well as offering our contributions to ESMIG."
About the European Smart Metering Industry Group (ESMIG)
The European Smart Metering Industry Group (ESMIG) aims to help deliver the benefits of smart metering across Europe. Located in Brussels, the industry group gives advice and provides expertise on all aspects related to smart metering. ESMIG actively supports the development of open standards and is the industry voice in smart metering and smart grids developments in the European Union. More information about ESMIG can be found at http://www.esmig.eu/.
About Echelon Corporation
Echelon Corporation (NASDAQ: ELON) is leading the worldwide transformation of the electricity grid into a smart, communicating energy network, connecting utilities to their customers, enabling networking of everyday devices, and providing customers with energy aware homes and businesses that react to conditions on the grid.
Echelon's NES System – the backbone for the smart grid – is used by utilities to replace existing stand-alone electricity meters with a network infrastructure that is open, inexpensive, reliable, and proven. The NES System helps utilities compete more effectively, reduce operating costs, provide expanded services and help energy users manage and reduce overall energy use. Echelon's LonWorks® Infrastructure products extend the smart grid, powering tens of millions of energy aware, everyday devices made by thousands of companies – connecting them to each other, to the electricity grid and to the Internet. LonWorks based products work together to monitor and save energy; lower costs; improve productivity; and enhance service, quality, safety, and convenience in utility, municipal, building, industrial, transportation, and home area networks.
More information about Echelon can be found at http://www.echelon.com.
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Echelon, LonWorks, and the Echelon logo are registered trademarks of Echelon Corporation registered in the United States and other countries. Other product or service names mentioned herein are the trademarks of their respective owners.
This press release may contain statements relating to future plans, events or performance. Such statements may involve risks and uncertainties, including risks associated with uncertainties pertaining to market acceptance of Echelon's products and the timing and level of customer orders; risks that Echelon offerings do not perform as designed and that liability may accrue as a result; and other risks identified in Echelon's SEC filings. Actual results, events and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Echelon undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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