Echelon Corporation ( NASDAQ: ELON) has been honored with the U.S. Department of Commerce's Export Achievement Award. The Export Achievement Award is sponsored by the U.S. & Foreign Commercial Service, the agency within the U.S. Department of Commerce that works directly with U.S. companies to promote international trade and export growth, to recognize U.S. businesses that have achieved competitive success in international markets. U.S. Congresswoman Zoe Lofgren presented the award to Ron Sege, chairman and CEO of Echelon, in a November 28 ceremony held at San Jose State University in San Jose, California.
Echelon has long been a pioneer in energy control networking systems to improve the efficiency of energy distribution systems and to manage energy usage in an intelligent and dynamic fashion. Echelon is headquartered in Silicon Valley and generated more than 70% of its revenue in 2010 from outside the U.S.
"It is an honor for us to receive this prestigious award. As international opportunities continue to increase for Echelon, exporting has become a large part of our growth strategy," said Sege. "Our approach of targeting countries with immediate, critical energy conservation needs is proving very effective. Our flexible sales strategy of selling energy control networking systems, sub-systems, or components, based on regional needs, has led to important projects in Europe, Russia, Japan, Brazil and China. We are proud of what we’ve accomplished worldwide with our proven, open standard, multi-application solutions, and we could not have done it without the hard work and dedication of our employees and the support of the U.S. Department of Commerce and particularly the staff of the Silicon Valley office of the U.S. Commercial Service."
"If America is to compete in the integrated global market of the future, it must do so through continuous innovation, and we must leverage our unique intellectual capital and entrepreneurial spirit to create the jobs of the future and reinvigorate our middle class," said Rep. Lofgren. "The capital of Silicon Valley is where the spirit of innovation drives our economy and succeeds like nowhere else in the world. Institutions like San Jose-based Echelon also embrace the global marketplace like no other region in the United States, which epitomizes Silicon Valley’s leadership in today’s global economy."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV