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May 23, 1994

ECHELON EXPECT TO BE PROFITABLE BY NEXT YEAR

By CBR Staff Writer

Echelon Corp, Palo Alto, California inventor of the Local Operating Network of cheap control nodes, says annual sales are running at between $15m and $25m and that it doesn’t expect to be operating profitably until early next year: according to the Wall Street Journal, Echelon will this week announce a new round of funding with financier George Soros’s Quantum Fund putting up $10m for a 5.4% stake and Motorola Inc, which has already invested $20m, coming back for more, putting up $10m to take its stake to 21%; the Neuron chip is currently made by Motorola and Toshiba Corp, and a third licensee is now being sought.

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