| Nasdaq: ELON
Similar to: Mitsubishi Electric Corp.
Echelon Corp. is a pioneer in developing open-standard control networking platforms and delivers elements necessary to design, install, monitor and control highly reliable, scalable and secure communities of devices. The company's platform powers energy-savings applications for smart grid, smart cities and smart buildings that help customers save on their energy usage, reduce outage duration or prevent them from happening entirely, reduce carbon footprint and more. The company operates through two business segments: Industrial Internet of Things and Grid Modernization. The Industrial Internet of Things segment represents horizontal embedded control platforms, such as LONWORKS and IzoT, which include components, control nodes and development software. These products are typically sold to original equipment manufacturers to build into their industrial application solutions. The Grid Modernization segment focuses on Echelon's forward-integrated products such as smart meters, devices, and software that allow electric utilities to modernize their methods for collecting billing data and vital statistics on the health and performance of their smart grid. Echelon was founded by Armas Clifford Markkula, Jr. in February 1988 and is headquartered in San Jose, CA.