Sure would have been great to have had Indiana a few years back after Echelon finished up the Cincinnati project. Knew it was a matter of time before Indiana moved forward but they were very slow to upgrade!!
At the end of 2015 Enel still owned every share they originally purchased. You have to comb through the SEC filings to see ownership, believe it's the 10k. They have a lot of the filings on the web site.
Wow, now I know why everyone is on your case! Sure, they submitted a final proposal but it isn't a material event unless they get the grant whenever that is announced. Then they will report it!
They won't send a PR out until the wire has been qualified. Next news will be related to the government grant money.
According to new research, China’s cities will require US$1 trillion (6.6 trillion yuan) in green financing to reach its pollution-reduction targets.
The report, ‘Green Finance for Low-Carbon Cities’ commissioned by the Green Finance Committee of China Society, notes that Chinese financial markets will need to cover a staggering 90 per cent of investment funding for clean transportation, energy-efficient buildings and renewable power through 2020. [China bids to boost renewable energy market]
According to Eco-Business, the research conducted focuses around how green loans, bonds, industry funds, carbon funds and government policies could be leveraged into private investment into infrastructure that promote sustainability.
The report says: “Public funding should play a leveraging role and facilitate the entry of a large amount of private funding in the low-carbon development of Chinese cities.
“The financial sector should establish a system to differentiate potential projects based on their environmental benefits, so that green finance can effectively direct funding to low-carbon urbanization.”
China has reportedly pledged to peak carbon emissions by 2030.
San Jose, CA, June 16, 2016: Networked Energy Services Corporation (NES), a global smart grid market leader, announced it has opened a new smart grid products manufacturing facility at Jabil Circuit in Kwidzyn, Poland. The factory has been producing smart meters, control nodes and other grid devices as part of the Patagonia Energy Applications Platform for NES customers for about one year. NES partners with Jabil Circuit for its manufacturing, a world-class tier-1 contract equipment manufacturer (CEM) with nearly $18 billion dollars in 2015 revenue. The location of Kwidzyn, Poland was chosen for its strategic location within Europe and being able to deliver smart meters to existing utility customers in countries, where NES smart metering products are already installed, including Denmark, Sweden, the Middle East, and, of course, Poland. NES has developed a strong local supply base with more than 10 new European-based component suppliers to support production and future growth in Poland. NES looks forward to continuing to service these project deployments and others around the world with continued efficiency in manufacturing from this new state-of-the-art manufacturing facility. “I am amazed at the impressive accomplishments at our new production facility in only its first year of operation,” said Michael Anderson, CEO of NES. “We look forward to continued growth and high performance in our factory to support the increased smart metering opportunities around the world and our growing customer base.”
My guess is landing the government grant. Qualification of the wire is coming but that could be towards the middle or end of summer.
It was just announced by Enel this week so I wouldn't have been part of projected revenues and NES revenue is separate from revenue coming from Enel. The other exciting part to this is Enel's move to intelligent cities and Echelon's hybrid solution of combination RF and PL. Hopefully, Enel is taking a serious look at Elon for intelligent city solutions.
In the last quarterly release there was wording in either the presentation slides or the 10K which implied the door wasn't shut on future business with Enel.
Italy’s National Regulatory Authority for Energy ANRE has given Enel permission to install an additional 110,000 smart meters as part of a pilot in Romania. A local Romanian subsidiary of the Italian utility company installed smart meters for more than 30,000 clients last year. Enel is said to have plans to install similar meters for all 2.7 million clients in Romania, paving the way for larger smart cities and infrastructure.
Georgios Stassis, country manager Enel in Romania, said: “As the needs of clients evolve through the introduction of smart home appliances and distributed generation, which helps them become small energy producers, the installation of smart meters will become even more important.”
The smart meters are also purposed to pinpoint areas that have significant issues with power outages and where further investment is needed.Enel will add 53,000 smart meters in the Muntenia region, while in Dobrogea and Banat regions it will install 28,000 and 30,000, respectively. Enel reportedly controls around one third of the electricity distribution market in Romania and employs over 3,100 people.
Enel remains the second largest Echelon shareholder to Royce and haven't sold one share. Networked Energy Services is also providing meters in Romania so this is still an important market for Echelon's products. Good job!!
I've seen companies with much less financial strength obtain credit lines and/or issue new stock so bankruptcy isn't in the foreseeable future. Their niche, control networking, is still a powerful offering especially with the combination of RF and PL and the lighting market has a broad runway of revenue opportunities in the immediate future. They can also develop other uses for their broad product and patent line and with the hybrid RF/PL offering that's why I continue to own the stock.