(SCOTTS VALLEY, Calif. and SUNNYVALE, Calif.-July 25, 2001) - Metering Technology Corporation (MTC), a leading supplier of low-cost, intelligent, communicating meters, and Echelon Corporation, the world leader in networking everyday devices to each other and the Internet, today announced that MTC has integrated Echelon's LonWorks® technology solution into its line of electric meters. Intelligent meters are key components in the end-to-end systems utilities need in order to offer real-time pricing, load curtailment, and other energy-related services to their residential, commercial building and industrial customers. When integrated into systems with other LonWorks based products for homes and businesses such as smart appliances, thermostats, and lighting systems, and connected to the Internet using any of Echelon's standard connectivity infrastructure products and LNS™ software, they enable utilities to offer not only advanced energy management services but also a variety of other value-added monitoring and control services.
"We see a growing demand from utilities and businesses for intelligent, communicating meters that enable them to run their business more efficiently and to offer their customers a range of enhanced energy services," said Peter Larsson, president and CEO of MTC. "We feel that LonWorks technology has a tremendous opportunity to advance the utility and home networking industries. MTC is interested in providing scalable, value-added solutions to the market and Echelon's platform, including their power line transceivers, is the leading technology solution available today."
The MTC meters will use Echelon's fourth-generation PLT-22 power line transceivers, which communicate across the existing power infrastructure in a home, building or facility using the ANSI/EIA 709.2 power line communications standard. The meters will employ unique MTC technology to provide a reliable and cost-effective metering solution for collecting, storing, and transmitting detailed electrical consumption and system monitoring information. The MTC meters will provide system and equipment sub-metering capabilities such as tariff period recording, automatic system updates and alarm monitoring, two levels of data encryption, data transmission error monitoring, password protection, and installs in electric sub-panels or on power-feeds to specific equipment.
"By combining the technologies from our two companies into its robust, field-proven metering products, MTC is providing a key component for the end-to-end energy management solutions that the market desperately needs," said Bea Yormark, Echelon's vice-president of sales and marketing. "Their new LonWorks enabled metering products can enable the utility industry and corporate energy managers to create reliable, end-to-end metering solutions and to manage their enterprise-wide energy systems to control and reduce costs, optimize usage, and create new revenue sources. We're very pleased to be working with such a progressive and solutions-oriented company as MTC."
MTC was founded in 1997 to provide innovative metering solutions for the revitalized and expanding market for energy measurement solutions. Its proprietary silicon chip technology enables MTC to deliver intelligent, extremely low-cost meters for commercial and residential needs in North America and world markets, as well as metering modules for licensing and resale. For more information on MTC and its metering products, visit the Web site at www.metertech.com.
About Echelon Corporation
Echelon Corporation is the world leader in networking everyday devices. The company offers a comprehensive line of hardware and software products for automating building, home, industrial, transportation, and utility applications using LonWorks networks, an international, cross-industry standard for device networks. Echelon is also a founding member of the LonMark® Interoperability Association, an open industry forum of hundreds of leading manufacturers, integrators, and users of "smart" devices dedicated to standardizing and promoting the use of interoperable LonWorks devices.
Echelon is based in Sunnyvale, California with international offices in China, France, Germany, Japan, Korea, The Netherlands, and the United Kingdom. Further information can be found at http://www.echelon.com.
From October 23-24, Echelon and Messe Frankfurt GmbH are holding LonWorld™ 2001, the world's premier conference and tradeshow devoted solely to the LonWorks industry, in Frankfurt, Germany. Further information can be found online at http://www.LonWorldexpo.com.
Echelon, LonWorks, LonMark, the LonMark logo, and the Echelon logo are trademarks of Echelon Corporation registered in the United States and other countries. LonWorls, LNS, and Bringing the Internet to Life are trademarks of Echelon Corporation. Other marks belong to their respective holders.
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 the timing and level of customer orders, demand for products and services, development of markets for Echelon's products and services, acceptance of Echelon's products for use in home networks, risks that the R&D activities or subsequent product deployment activities with Enel are not successful, do not meet their target dates, or are terminated, or that the contemplated transactions are challenged by third parties, risks that our development projects with other parties are not successful, 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.