Itron Commends Department of Energy on Smart Grid Awards
Several Contracted Customers to Receive Grants
LIBERTY LAKE, WA. — October 27, 2009 — 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.”
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