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By Tova Cohen
HERZLIYA, Israel, July 7 Nation-E expects
revenue of up to $400 million by the end of 2014 from its energy
management meters that will roll out in August after signing
agreements with major utilities in California, the company's
The solution will first be launched in the United States, in
alternative energy-friendly states like California and Florida,
and will then be rolled out in Europe, Daniel Jammer said.
"We anticipate by the end of the year almost 1 million units
going into the United States. We're talking about revenue of
$300 to $400 million by the end of the year," he told Reuters.
Israel's Nation-E also plans to go public on Nasdaq in 2015.
"Our first customers are the biggest utilities in
California," Jammer said, noting the utilities will sell the
home product to their residential customers.
The German-born Jammer, who moved to Israel nine years ago,
made his fortune in titanium in Russia and invested about $100
million of his own money in Nation-E.
The device is aimed at home producers and consumers of
energy. It will integrate energy sources such as electric
batteries, solar panels and wind turbines, enabling consumers to
store energy for use in times of power outages and sell energy
when there is surplus.
Software on the device, which will connect to mobile phones
and home computers, will provide security against cyber attacks
and prevent theft of data.
Researchers with F-Secure of Finland and Symantec
reported last week that they believe the "Energetic
Bear" hacking group was behind a campaign to infect energy and
industrial firms with malicious software.
Nation-E said its technology minimises the chance of a
nationwide power outage and provides critical infrastructure
with the capability to respond to such threats.
Jammer said the company will make most of its revenue from
selling applications for the product, and not from the device
itself, which will be priced at $299.
Nation-E will launch in September a $25 million energy cyber
security centre to test and integrate new security products. The
centre is aimed at utilities, telecommunications, homeland
security, financial services and data centres.
It will build a similar centre in Luxembourg, which will be
financed by the government for its financial industry.
(Editing by Ari Rabinovitch)