I just came across an article written over a month ago by well known investment “guru” Tobin Smith, highlighting three “hidden gem” green stocks. The article highlights Itron (ITRI), VMware (VMW) and Echelon (ELON) as companies that could benefit big in the coming green energy revolution. Itron (ITRI) may be relatively unknown to the average investor, but considering it’s the big guy in the smart grid space, it’s quite well known to those with … Read the rest
Category Archives: Smart Meters
GE CEO Immelt & John Doerr: "US Falling Behind On Green Energy"
Yesterday in the Washington Post, General Electric (GE) CEO Jeff Immelt and famed venture capitalist John Doerr wrote an op ed piece highlighting the failure of the US to take the lead in green energy and the emergence of China as the leader.
Some interesting facts:
– China cars are 35% more fuel efficient
– they spend 10x what the US does as a % of GDP on green energy
– China on track to … Read the rest
Echelon (ELON) Poised For Breakout, Beats & Issues Strong Guidance
I think Echelon (ELON) is a stock to watch this morning. We’ve seen other demand response/smart grid players (with the exception of Itron) such as EnerNoc (ENOC) and Comverge (COMV) take off like a rocket and now it may be Echelon’s turn. The company beat estimates last night by .06/share, posting a narrower loss of .23/share. Revenues also came in better than expected at $22.60 mill vs the $21.8 analyst expected. Guidance is a bit … Read the rest
Itron (ITRI) To Deploy Water & Electrical Smart Meters For Glendale Water & Power
Along with its earnings report today which beat expectations, Itron (ITRI) has announced a contract with California’s Glendale Water & Power to provide them with smart metering technology for both its water and electricity operations. No word on the financials but Glendale serves 120K customers. Itron’s OpenWay advanced metering system provides a two way communication between the meter and the utility, providing for data collection, use limitations, outage detection, remote metering and home networking … Read the rest
Itron (ITRI) Beats Lowered Expectations, Up AH
As I mentioned on Twitter today, I decided to take a shot at an Itron (ITRI) entry ahead of earnings after the bell today. Why? Last quarter, they missed badly and the stock gapped down. When you get a situation like that, analysts greatly lower expectations and the bad news gets built into the stock, setting up a greater likelihood of a relief rally on the next earnings report. Even if the company misses, … Read the rest
IBM and Cisco (CSCO) Collaborating On Amsterdam Smart Grid
IBM (IBM) and Cisco (CSCO) are announcing a smart grid pilot project today in Amsterdam for 500 households to help the city make smarter use of its energy. The initiative is part of the Amsterdam Smart City initiative with the ultimate goal to create a more sustainable city.
The two companies will be part of a consortium which will implement smart metering and home energy management technology in homes to provide customers with the feedback … Read the rest
Renewable Energy Gets A $3 Billion Government Infusion
The US government announced today that they’ll soon begin accepting applications for around $3 billion in government funds to spur development in renewable energy across the country. Previously, companies could file for a tax credit to cover a portion of development costs, but this provides an immediate infusion of cash to help meet the government’s goal of doubling renewable energy production over the next 3 years.
“This partnership between Treasury and Energy will enable both … Read the rest
Columbia Gas Will Deploy Itron’s (ITRI) Smart Meters
Itron (ITRI) is announcing today that Columbia Gas of Ohio is going to deploy its smart metering technology across 1.4 million gas meters over the course of the next 5 years. Columbia Gas will deploy the 40GB Gas ERT modules and may implement the larger 100G series modules in selected areas which would allow for more frequent metering data collection.
“We’ve experienced success over the years with Itron solutions, and have come to rely on … Read the rest
American Electric Power (AEP) Signs Smart Meter Deal With Landis_+Gyr
AEP Texas, a division of American Electric Power, just announced that it has signed a contract with Landis+Gyr to have smart meters installed for its customers. Under the terms of the 5 year contract, Landis+Gyr will deliver and install 700,000 smart meters for AEP. According to Reuters, the deal is valued at $75 to $100 million.
From a Landis+Gyr press release, here is more information about the deal along with a quote from Landis+Gyr North … Read the rest
Itron (ITRI) Pushes Lower AH On 2.75 Million Share Offering
Itron (ITRI), the smart grid gorilla, is selling off a bit after hours after announcing it is selling 2.75 million shares at 55.81/share. The company expects to use $125 million of the proceeds to repay a portion of outstanding non-convertible debt and the remainder for general corporate purposes. Canaccord Adams is the lead, book running manager while Stephens Inc is acting as co-manager on the deal which is expected to close around June 3rd. I … Read the rest