Itron (Liberty Lake, USA), a manufacturer of energy-saving meters for utilities, claims to have won a contract to provide smart meters in Melbourne and other parts of Victoria State, allowing water utilities to better manage consumption.
The deal will help City West Water, South East Water, Yarra Valley Water and Barwon Water manage supply, optimize usage and conserve water resources, and follows Itron’s completion of a three-year contract to provide water meters and an advanced meter reading system to the four utilities.
“With Itron’s improved meter accuracy and advanced metering communication, we can address our need for improved metering accuracy and efficient collection of accurate meter data,” said Andrew Geary, metering services coordinator for City West Water, in a statement.
Itron is a competitor to Toshiba-owned Landis+Gyr (Zug, Switzerland) and Elster Group SE (Essen, Germany), owned by Melrose Plc (London, UK), in the market for smart-metering products.
Itron did not provide any financial details regarding its latest contract win.
According to Bloomberg, the company’s shares have risen 22% this year in New York trading, while the 18-member Bloomberg World Water Index has gained just 13%.