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Landis+Gyr Group AG
Regulatory Filings • Aug 23, 2021
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Ad-hoc | 23 August 2021 17:45
Landis+Gyr Signs Contract with Louisville Gas and Electric Company and Kentucky Utilities Company for Advanced Metering Infrastructure and IoT Network
Landis+Gyr Group AG / Key word(s): Contract
23-Aug-2021 / 17:45 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
The contract for 930,000 advanced electricity meters, 300,000 gas modules and corresponding software extends smart grid technology to residents of more than 90 counties in Kentucky.
Cham, Switzerland – August 23 rd , 2021 – Landis+Gyr Technology Inc., a subsidiary of Landis+Gyr Group AG (SIX: LAND) signed a five-year agreement with Louisville Gas and Electric Company (LG&E) and Kentucky Utilities Company (KU) to provide a comprehensive advanced metering and smart grid infrastructure.
The contract, which covers both operating utilities, includes 930,000 advanced electricity meters and 300,000 gas modules, in addition to network equipment and software. Both utilities will deploy Landis+Gyr’s Gridstream(R) Connect solution, which links the electric and gas advanced metering infrastructure endpoints to an IoT network capable of supporting a variety of intelligent devices for managing energy distribution systems.
‘Installing this technology across our customer base has been a goal of ours for some time and we’re pleased full deployment of advanced metering infrastructure was approved in June by the Kentucky Public Service Commission,’ said David Huff, Director of Advanced Meter Initiatives at LG&E and KU. ‘Once installed and operational, this technology will enhance the safe, reliable service we provide to our customers and will better enable them to save energy and money through access to their granular energy use.’
Landis+Gyr’s Gridstream network provides utilities with the information and access needed for planning, maintenance, and improving system reliability. Beyond energy consumption information, the network can interface with load management and analytics platforms to provide actionable intelligence for utility operations.
‘Landis+Gyr is excited to be part of this grid modernization effort and we look forward to implementing technology that enables the goals that LG&E and KU have defined for the future of energy in Kentucky,’ said Prasanna Venkatesan, Landis+Gyr’s Executive Vice President of the Americas region.
About LG&E and KU
Louisville Gas and Electric Company and Kentucky Utilities Company, part of the PPL Corporation (NYSE: PPL) family of companies, are regulated utilities that serve more than 1.3 million customers and have consistently ranked among the best companies for customer service in the United States. LG&E serves 332,000 natural gas and 425,000 electric customers in Louisville and 16 surrounding counties. KU serves 564,000 electric customers in 77 Kentucky counties and five counties in Virginia. More information is available at www.lge-ku.com and www.pplweb.com .
About Landis+Gyr
Landis+Gyr is a leading global provider of integrated energy management solutions for the utility sector. Offering one of the broadest portfolios, we deliver innovative and flexible solutions to help utilities solve their complex challenges in Smart Metering, Grid Edge Intelligence and Smart Infrastructure. With sales of USD 1.4 billion in FY 2020, Landis+Gyr employs more than 5,000 people in over 30 countries across five continents, with the sole mission of helping the world manage energy better. For more information, please visit our website www.landisgyr.com .
Contact Media
Melissa van Anraad
Head of PR
Phone +41 41 935 6398
Eva Borowski
SVP Investor Relations & Corporate Communications
Phone +41 41 935 6396
Contact Investors
Christian Waelti
Head of Investor Relations
Phone +41 41 935 6331
End of ad hoc announcement
| Language: | English |
| Company: | Landis+Gyr Group AG |
| Alte Steinhauserstrasse 18 | |
| 6330 Cham | |
| Switzerland | |
| E-mail: | [email protected] |
| Internet: | www.landisgyr.com |
| ISIN: | CH0371153492 |
| Valor: | 37115349 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1228352 |
| End of Announcement | EQS Group News Service |