Itron Inc. ( ITRI Quick Quote ITRI - Free Report) has announced a collaboration with Severn Trent Water as part of the company’s Green Recovery Program to transform Warwickshire, England, into a smart water region.
The project involves the deployment of Itron's advanced metering infrastructure system, which includes 157,000 Itron smart water meters fitted with Cyble multi-connectivity communication modules and linked via Connexin, an Itron partner that is supplying the LoRaWAN network.
Itron's smart water meters provide the utility accurate, effective, and thorough measures of the water volume, which can be checked frequently to better spot leakage and help customers to digitalize and optimize their operations.
The water meters maintain a high degree of precision and can measure water volume while monitoring a range of flow rates, which helps to create a smart infrastructure for Warwickshire.
Severn Trent Water will also leverage Itron’s Temetra platform to gather and manage meter data through mobile meter readings or communication networks.
Itron’s device solutions business segment has a wide array of standard gas meters, electricity IEC meters, water meters and communicating meters. The company plans to leverage its portfolio to expand its global presence in the utility sector with several collaborations.
In October, the company
announced a collaboration with SmartThings to connect Itron’s industrial Internet of Things network solution and SmartThings’ services and solutions. The partnership will use Itron's distributed intelligence network, which has millions of linked endpoints, and SmartThings Energy service to give real-time energy readings and consumption trends for better energy management and conservation.
Prior to that, the company launched the Itron Engage Sales Channel Partner Program in the Asia Pacific region, providing utilities and municipalities with tools, training and support for Itron’s solutions. The program is aimed at improving energy and water management capabilities and client support for Itron’s sales channel partners.
These collaborations are likely to offer a steady revenue stream for the company. However, the company faces heightened competition, leading to the threat of pricing pressure and a loss of market share. A leveraged balance sheet is a further concern.
Itron currently has a Zacks Rank #5 (Strong Sell). Shares of ITRI have lost 36.8% compared with the
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