Several Contracted Customers to Receive Grants
LIBERTY LAKE, Wash.--(Business Wire)--
Itron Inc. (NASDAQ:ITRI) commends the Obama Administration for their vision in
awarding $3.4 billion in funding to support the upgrade and development of the
electricity grid in the U.S.
The announcement included several customers who have contracted for OpenWay®
smart grid systems from Itron such as CenterPoint Energy, San Diego Gas and
Electric, DTE Energy and City of Glendale Water and Power. With more than 14
million smart metering endpoints under contract, Itron leads the marketplace in
offering this technology.
Itron smart grid solutions include OpenWay to support smart metering and other
endpoint devices and Itron Enterprise Edition Meter Data Management system.
These solutions support utilities by enabling bi-directional data communications
to meters, sensors and control devices on the grid, demand response, dynamic
time-based rates; and meter data validation, estimation and editing for a smart
utility-all supporting a smart grid.
In August of this year Itron announced an additional automated production line
at its production facility in West Union, South Carolina. This new production
line utilizes advanced next-generation robotic technology that enables quality
production of this smart grid equipment. The new automation ensures that Itron
can meet expected demand for both current contracts and future awards.
Furthermore, in the spirit of the Stimulus objectives outlined by the Obama
administration, this location, as well as Itron`s other facilities throughout
the United States, continues to create new jobs and economic opportunity for
recovery with domestic manufacturing capacity that fully complies with the
American Recovery and Reinvestment Act`s "Buy American" requirements.
"The industry has been waiting for this day and these announcements since early
in 2009," said Malcolm Unsworth, Itron president and chief executive officer,
"Itron has invested heavily in our OpenWay solution and production facilities to
support our customer`s smart grid deployment plans. We look forward to the
momentum that these grants will generate in the industry and the economy."
About Itron:
Itron Inc. is a leading technology provider to the global energy and water
industries. Our company is the world`s leading provider of intelligent metering,
data collection and utility software solutions, with nearly 8,000 utilities
worldwide relying on our technology to optimize the delivery and use of energy
and water. Our products include electricity, gas, water and heat meters, data
collection and communication systems, including automated meter reading (AMR)
and advanced metering infrastructure (AMI); meter data management and related
software applications; as well as project management, installation, and
consulting services. To know more, start here: www.itron.com.
Itron Inc.
Deloris Duquette, 509-891-3523
Vice President, Investor Relations and Corporate Communications
deloris.duquette@itron.com
or
Kim Papich, 509-891-3590
Itron Communications and Marketing
kim.papich@itron.com
Copyright Business Wire 2009
