Echelon (ELON) has released a new open software platform for intelligent distributed control and a series of new products for the smart grid and Duke Energy (DUK) is first in line to purchase the Edge Control Node 7000 Series running the Echelon Control System software. Field trial deployments are expected to begin by the end of the year with production units expected to ship in about a year. The initial order is valued at around … Read the rest
Tag Archives: duke energy
Echelon (ELON) Reports Narrower Loss Than Expected, CEO Steps Down Due To Health Concern
Some good news and bad news out of Echelon (ELON) tonight. The company reported a narrower loss than what Wall St expected, but the CEO announced he was stepping down to battle lung cancer but will remain on the Board as an adviser. Well wishes to you Mr. Oshman.
The company reported a non GAAP EPS loss of .11/share which was much better than the .24/share loss Wall St expected. Revenues came in a bit … Read the rest
Duke Energy (DUK) Gets 2 Wind Farms Up And Running
Duke Energy just announced that they have 2 new wind farms up and running: the 70 North Allegheny Windpower Project in Pennsylvania, which will sell power to FirstEnergy under a long-term Power Purchase Agreement, and the 42-MW Silver Sage Windpower Project in Wyoming, which will sell power to Cheyenne Light Fuel & Power and Platte River Power Authority.
The power produced by these two plants gives Duke a total wind power capacity of 634 MW. … Read the rest
FPL Group (FPL) And Duke Energy (DUK) Announce New Year’s Resolution: Commitment To Plug-In Hybrid And Electric Vehicles
FPL Group and Duke Energy just made a public commitment to switch to plug-in hybrids or electric vehicles. The commitment period starts January 1, 2010. The stated goal for both companies is to have all of their new company cars, trucks and fleet vehicles switched over by 2020.
This is big news: the commitment will create a demand for 10,000 new plug-in electric vehicles, and automakers who can meet that demand could claim a chunk … Read the rest
Piper Jaffray Upgrades Echelon (ELON): "Duke Contract Raised Company Profile"
Piper Jaffray is upgrading Echelon (ELON) this morning following the big Duke Energy (DUK) contract announced yesterday. The firm is upgrading the company from Underweight to Neutral and is raising the price target from $6 to $10.
Hat tip to StreetInsider.com for the following analyst comment:
Piper analyst says, “Echelon announced a framework agreement with Duke Energy (NYSE: DUK) that includes an initial order for 120,000 smart meters and data concentrators and Ohio; … Read the rest
Echelon (ELON) Rocketing Higher On Duke Energy (DUK) Smart Grid Deal
Echelon (ELON) is rocketing higher this morning after the company announced it will be the long term supplier for Duke Energy’s (DUK) smart grid system to be deployed initially in Ohio with smart grid expansion plans in Indiana as well. The company provides electricity to 4 million customers across North & South Carolina, Indian, Ohio and Kentucky and is the nation’s 3rd largest utility. The company has received regulatory approval to deploy their smart grid … Read the rest
Duke Energy (DUK) To Provide WalMart (WMT) With Wind Energy
Walmart has announced a partnership with Duke Energy which will supply wind power for about 15% of the energy load in 360 of its stores and facilities in Texas. Walmart, who has a lofty ambition of using only renewable energies in the future will pay traditional energy rates for the wind power which will come from a new wind farm under construction in Notrees, Texas beginning in April of next year.… Read the rest
Duke Energy (DUK) Expands Wind Energy Biz
Duke Energy (DUK) has signed a long term 20 year agreement to sell 99 MW (a single megawatt powers about 200 – 300 homes) from its new Wyoming wind farm to PacifiCorp. Duke will begin building the wind farm early next year which will contain 66 wind turbines generating energy by late 09. The output will serve customers in Wyoming, Utah, Idaho, Oregon, Washington and California.
Duke has also agreed to purchase 100 turbines from … Read the rest