Swedish utility Vattenfall AB has exercised a third option for up to 100,000 additional Echelon NES meters and associated data concentrators and system software, bringing the total number of meters released under the project to about 600,000. Revenue to Echelon under the options is expected to be approximately $7 million, depending on the mix and total number of products ordered, with shipments expected to take place over a 9- to 12-month period beginning in the fourth quarter of 2007.
“The NES-based Titanium advanced metering system that our partner Telvent is installing at Vattenfall is, we believe, one of the most successful deployments of next-generation metering technology occurring today,” said Ken Oshman, Echelon’s chairman and CEO.
“Led by utilities like Vattenfall, the metering market is undergoing a transformation, moving to smart meters and advanced metering systems that will power the 21st century. Our project with Vattenfall is certainly one of the most successful advanced metering projects in Europe, if not the world,” said Manuel Sánchez Ortega, Telvent’s chairman and chief executive officer. “The project is a showcase for others to follow and demonstrates Telvent’s world-class ability to execute such large scale projects.”
