The Azerigas Production Union which is responsible for the transmission and sale of natural gas in the Azerbaijan region of central Asia announced they will implement Itron’s smart meter and payment system in the city of Baku and will roll it out nationwide eventually. Itron has already begun shipping its smart payment meters and smart cards as well as the management software. Consumers will be able to purchase meter credit with their smart cards through a network of vending channels. No word on the financials of this deal.
Marcel Regnier of Itron commented: “Itron is very proud to be part of such a significant project representing a genuine breakthrough in Central Asia. No doubt this initiative will be recognized as an important benchmark, both in the region and internationally.”
Shares of ITRI are up about a percent today and remain in a strong up trend off the Feb lows.