Intellon Corporation Proposal Selected by U.S. Department of Energy for Smart Grid Investment Grant Award
October 28 2009 - 11:28AM
Business Wire
Intellon Corporation (Nasdaq: ITLN), a leading provider of
HomePlug®-compatible integrated circuits (ICs) for home networking,
networked entertainment, Ethernet-over-Coax (EoC) and smart grid
applications, today announced that its application for funding in
response to the U.S. Smart Grid Investment Grant Funding
Opportunity Announcement has been selected for award negotiations
by the U.S. Department of Energy (DoE). Intellon’s proposal to
modify existing power line communications integrated circuits (ICs)
to enhance smart grid functionality is one of 100 projects selected
under the $3.4 billion Smart Grid Investment Grant program
announced by President Obama to modernize the U.S. power grid.
Intellon is the only semiconductor company to have a proposal
selected by the DoE under this program.
Intellon received notification yesterday from the Office of
Electricity Delivery and Energy Reliability that its “HomePlug
Green PHY Integrated Circuit Development” project was among the
proposals selected. If the award negotiations with the DoE are
successful, Intellon will receive $4.9 million of U.S. Recovery Act
funding for the project. Intellon will contribute an additional
$4.9 million in matching funds for a total investment of $9.8
million.
Intellon’s proposal provides for the company to modify existing
powerline technology to develop a new integrated circuit
specifically designed and manufactured to meet the data rate,
power, cost and reliability requirements for communications over
home powerlines to support the emerging smart grid infrastructure.
The new IC will be based on the “Green PHY” powerline
communications specification that is expected to be finalized by
the HomePlug Powerline Alliance later this year. The HomePlug
“Green PHY” specification modifies the industry-leading HomePlug AV
powerline technology to create a lower data rate, lower power and
lower cost smart grid solution. ICs built to the “Green PHY”
specification will be interoperable with HomePlug AV ICs, greatly
expanding the functionality and flexibility of home area
networks.
The new ICs will communicate across existing electrical wiring
in the home (120/240 VAC, or 24 VAC low voltage wiring to
thermostats), enabling smart meters, energy usage display monitors,
programmable communicating thermostats, smart appliances and other
electrically powered equipment to transmit usage data and receive
control signals. This will enable households to monitor and better
understand energy usage so they can take steps to minimize monthly
energy bills.
“Our Green PHY HomePlug powerline technology will be a basic but
vital communications tool for the smart grid, allowing better
energy management by utilities and customers,” said Charlie Harris,
Chairman and Chief Executive Officer of Intellon Corporation. “We
look forward to finalizing this award with the DoE and beginning
work on this important project.”
“With millions of ICs already deployed around the world in a
variety of markets and applications, Intellon’s HomePlug powerline
technology is being increasingly specified for smart grid
applications due to its reliable and proven communications
capability,” Harris added.
About Intellon Corporation
Intellon (Nasdaq: ITLN) is a market leader in powerline
communications, providing HomePlug® compliant and other powerline
integrated circuits for home networking, networked entertainment,
BPL access, Ethernet-over-Coax (EoC), smart grid management and
other commercial applications. Intellon created and patented the
baseline technology for HomePlug 1.0, and is a major contributor to
the baseline technology for the 200-Mbps PHY-rate HomePlug AV
powerline standard and the draft IEEE P1901 powerline standard.
With more than 35 million HomePlug-based ICs sold, Intellon is the
market share leader in the HomePlug IC market. The Company was
founded in 1989 and is headquartered in Orlando, Florida, with
offices in Ocala, Florida, San Jose, California and Toronto,
Canada. For additional information, visit www.intellon.com.
Cautionary Note Regarding Forward-Looking Statements:
All statements included or incorporated by reference in this
release, other than statements or characterizations of historical
fact, are forward-looking statements. These forward-looking
statements include, but are not limited to, assertions regarding
the successful negotiation of this funding opportunity and
Intellon’s commitment of matching funds to develop the proposed IC,
the successful completion of development of the proposed IC, the
specifications and uses of the proposed IC or the use of Intellon’s
HomePlug-based solutions in conjunction with any customer products
or services or in any of the applications or markets mentioned
herein. Actual future results could differ materially from those
anticipated as a result of certain risks and uncertainties. These
factors include, but are not limited to, the risk that the market
for powerline communications products, including Intellon ICs, may
not develop as expected; the risk that Intellon may be unable to
manage its growth effectively; uncertainties associated with
competitive pressures, technical challenges and changes in industry
standards; customer concentration and changes in customer demand
and product mix; fluctuations in the availability and pricing of
third party products and services used to manufacture, assemble and
test Intellon’s products; problems or delays in the fabrication,
assembly, testing or delivery of Intellon’s products; and economic
and political uncertainties in Intellon’s markets, including the
risk of continued volatility and uncertainty in global financial
and commercial markets. These and other risk factors are described
in detail in the Risk Factors section of Intellon’s Form 10-Q dated
August 7, 2009, as filed with the Securities and Exchange
Commission. Intellon assumes no obligation to update the
forward-looking information contained in this release.
Intellon and No New Wires are registered trademarks of Intellon
Corporation. HomePlug is a registered trademark of the HomePlug
Powerline Alliance, Inc. All other trademarks mentioned are the
property of their respective owners.
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