Echelon Corporation (NASDAQ: ELON) announced today it will join U.S. Commerce Secretary Gary Locke as one of 10 U.S. business leaders on the first cabinet-level trade mission of the Obama Administration. The delegation will travel to Jakarta, Indonesia May 24-26 to explore opportunities to meet Indonesia's growing demand for energy efficiency technologies.
"Indonesia is representative of countries undergoing massive industrialization—which creates a dramatic imbalance between the supply and demand for energy—making the country a tremendous potential market for U.S. companies in the clean energy and energy efficiency sectors," said Mark Rodman, managing director, Asia Pacific, Echelon Corporation. "Echelon's technology is significantly reducing energy use by making buildings, homes, and cities smarter, and our smart grid infrastructure solution is used by utilities to create the most advanced metering systems of today and tomorrow. We are excited to participate in this trade mission and to help the Indonesian government explore new possibilities for saving energy."
Echelon's LonWorks® technology is used worldwide in energy savings and control networking applications from building automation to streetlights to quick-service restaurants and retail and bank chains. Echelon's Networked Energy Services (NES) smart grid technology is used by utilities worldwide in Austria, Denmark, Finland, Germany, Italy, The Netherlands, Russia, Sweden, Switzerland, the United States, and other countries.
The Indonesian government expects a 56 percent increase in overall energy investments by 2014. Investment estimates include both public and private funds, which will be targeted at increasing the supply of electricity in urban areas, while also meeting the country's rural electrification needs. Indonesia's strategic setting in Asia and its emerging domestic market offer significant commercial opportunities for the U.S. clean energy industry.
Because exports directly and indirectly support millions of American jobs, they are an increasingly important part of the economy and a key component of the Obama Administration's efforts to create jobs through aggressive trade promotion strategies. In March, President Obama issued the executive order creating the National Export Initiative, which sets a goal of doubling U.S. exports during the next five years in support of two million U.S. jobs.
For more information regarding Echelon's technology, please visit http://www.echelon.com/solutions/energy/.
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.
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.
Contacts:
Echelon Corporation
Julia O'Shaughnessy, +1-408-938-5357
julia@echelon.com
or
Atomic
Public Relations
Allyson Stinchfield, +1-415-402-0230
allyson@atomicpr.com
