Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: john722 who wrote (25558)	5/10/2000 8:43:00 AM
From: JLS	Read Replies (1) \| Respond to of 57584

Enel, Echelon Sign Prelim Agmt; Enel To Take 9% Echelon (Dow Jones Online News, 05/10/2000 07:10) ROME -(Dow Jones)- State-controlled electricity group Enel SpA (EN) and the Echelon Corporation (ELON) have signed a non-binding memorandum of understanding under which the U.S. group will supply networking technology to the Italian utility. Under the terms of the agreement, Enel said it will also acquire three million newly issued Echelon common shares, which amounts to about a 9% stake. Echelon specializes in networking everyday devices and its LONWORKS system will be integrated into Enel's national digital meter project. Enel will provide digital meters to over 27 million homes in the next three years, making it the world's largest network infrastructure for everyday devices, the company said. Initial services will include remote meter reading, demand side management and remote connection or disconnection. The companies expect to reach a definitive agreement in June and to begin installation in the first quarter of 2001. -0- 10/05/00 10-14G (This story was originally published by Dow Jones Newswires) Copyright (c) 2000 Dow Jones & Company, Inc.