Echelon starts focusing on Latin America, expects increasing demand from Brazil

Monday, May 9, 2011

US provider of smart metering, automated metering infrastructure and utility solutions Echelon Corporation is starting to focus on emerging markets such as Latin America and China, company CEO Ronald Sege said in a conference call with investors.

"Countries where we see the right conditions for strong smart grid demand are Brazil, Russia and China, where we are focusing our range of sales tactics, selling systems, subsystems and components," Sege said.

In 2009, Echelon and Brazilian electronic meters supplier ELO Sistemas Eletrônicos agreed to form a JV to offer smart grid solutions to the Latin American market.

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"Our partnership with ELO, the leading meter supplier in Brazil with about 40% market share, is progressing well. ELO remains on track to be the first third party to integrate Echelon's Open Smart Grid Protocol into their meters," he said. "We anticipate regulatory approval of ELO's meters in the next few months and expect Brazilian utilities to begin pilots this year, with ramp to volume in 2012, as Brazil starts to upgrade its 63mn homes to smart meters."

The company posted a net loss of US$9.3mn in Q1 compared with a net loss of US$10.6mn in the same period last year.