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Echelon Lands Infrastructure Project Contract (ELON, TLVT)

Aug 28, 2009 (SmarTrend(R) News Watch via COMTEX) --

Companies: Echelon Corp. (ELON), Telvent GIT SA (TLVT)

8/28/2009-Echelon (NASDAQ:ELON) announced Friday that Fortum awarded a contract for an advanced metering infrastructure project to Telvent (NASDAQ:TLVT) using Echelon's Networked Energy Services (NES) system integrated with Telvent's Smart Metering Titanium for 550,000 Finish customers. Echelon expects revenue over the life of the project of $50 to $60 million, which is based on what configuration is selected. "This win demonstrates the vast capability of the NES system. We believe it provides the most advanced, flexible, and cost-effective smart grid infrastructure solution available. This win also demonstrates the strength and experience that our partner, Telvent, has in building powerful solutions that meet the growing needs of electric utilities worldwide," said Ken Oshman, Echelon's Chairman and Chief Executive Officer.

Write to Chip Brian at cbrian@tradethetrend.com

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News Provided by COMTEX

Companies: Echelon Corp. (ELON), Telvent GIT SA (TLVT)


Related terms: ceo, contract, electric utility, energy, market, nasdaq, revenue, securities

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