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
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
Companies involved in the smart grid should do very well in the future, but for now the behemoth in this space, Itron (ITRI) will have to wait to benefit. The company just reported an awful quarter reporting an EPS of .33/share missing estimates by .07/share on revenues of $389 million. That’s a 20% haircut on revenues over last year and a 60% plunge in earnings.
The CEO understated the poor the quarter, calling it “soft”. … Read the rest
Itron (ITRI) subsidiary Actaris announced this morning a deal with Abu Dhabi Water & Electricity Authority for 140K smart electricity meters which will be deployed across the Emirate of Abu Dhabi and fully integrated in an AMR fixed network . This is a follow on contract after a successful implementation of 60K meters that allows ADWEA to remotely access all metering and operating data and instantly vaults Actaris to the throne as the largest smart … Read the rest
Itron (ITRI), the “Microsoft of smart metering” is likely to be a big winner in the coming years as the Obama administration pushes for greater efficiencies but for now growth continues to deteriorate. After years of significant growth in ’05, ’06, ’07 and most of ’08, the company appears headed for a year of flat to negative growth here in 2009. I personally think that just creates an outstanding opportunity once the correction in the … Read the rest
Itron announced on Thursday that is has just released an improved version of its OpenWay Collection Engine, with better security features. The current version of OpenWay does comply with the security guidelines issued by American National Standards Institute. However, the new version exceeds these security requirements to provide security that meets the standards of the Federal Energy Regulatory Commission (FERC) and North American Electric Reliability Corporation (NERC) "Critical Cyber Asset" requirements as well as the … Read the rest
Now that Congress has approved the economic stimulus package (aka the American Recovery & Reinvestment Act) with Obama expected to sign it into law on Tuesday I thought I’d give a run down of what’s in this bill related to green energy initiatives.
Overall, nearly 10% of the entire bill provides funding and tax credits for green energy related projects.
* $11 billion in spending and loan guarantees to build a “smart grid” to move … Read the rest
Earlier today, Itron (ITRI) announced a partnership with Tendril in an attempt to rule the smart grid world. Now the company is announcing a collaboration with Digi International (DGII) to enable utilities to remotely monitor and control automation devices utilizing Itron’s OpenWay advanced metering infrastructure network in conjunction with Digi’s ConnectPort gateway.
“Digi complements OpenWay by bridging common technology standards toward the advancement of Smart Grid adoption,” said Russ Vanos, Itron vice president of marketing. … Read the rest
Two leading players in the smart grid industry, Tendril and Itron (ITRI) have announced a partnership that will extend the reach of the Tendril Residential Energy Ecosystem (TREE) and provide seamless integratoin over Intron’s OpenWay. Tendril will tap into Itron’s experienced sales force which will resell the TREE energy management system to utilities and energy retailers nationwide.
“Smart metering deployments continue to advance in size and scope,” said Russ Vanos, vice president of marketing, Itron. … Read the rest
Industrial Defender and Itron are working together to offer Security Event Management for Itron’s OpenWay smart meter system. Industrial Defender’s security technology will be used to manage the data from Itron’s meters, allowing Itron to provide enhanced security to electricity providers using their system.
From MSNBC, here’s what leaders at both companies had to say about the importance of the deal:
… Read the restAdvanced metering infrastructure has the potential to significantly transform key aspects of the utility