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Landis+Gyr Group AG
Regulatory Filings • Jul 16, 2021
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Regulatory Filings
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News Details
Ad-hoc | 16 July 2021 07:01
Landis+Gyr and PSE&G Sign Contract for Advanced Metering Deployment
Landis+Gyr Group AG / Key word(s): Contract
16-Jul-2021 / 07:01 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
PSE&G will install 2.3 million smart meters over the next four years.
Cham, Switzerland – July 16, 2021 – Public Service Electric and Gas Co. (PSE&G) has signed a 10-year agreement with Landis+Gyr Technology Inc., a subsidiary of Landis+Gyr Group AG (SIX: LAND) registered in the US, for the supply of 2.3 million advanced meters, network infrastructure, and associated software and services, which are all connected to the Landis+Gyr Gridstream (R) Connect AMI platform. This agreement is part of PSE&G’s advanced metering infrastructure (AMI) technology deployment to support the utility’s historic Clean Energy Future program in New Jersey.
In addition to advanced metering, the Landis+Gyr Gridstream network supports sensors for grid management, as well as consumer engagement technologies for electric and gas services.
‘We’re excited to be supporting this rollout of AMI that will be a key part of PSE&G’s efforts to promote adoption of clean energy and electrification strategies,’ said Prasanna Venkatesan, Landis+Gyr’s Executive Vice President of the Americas region.
Landis+Gyr’s AMI network will serve as a foundation for data delivery to help manage reliability and power quality, expand adoption of electric transportation, and provide more energy saving options for consumers.
As part of Landis+Gyr’s Gridstream Connect IoT platform, Gridstream AMI adds grid edge intelligence at every metering and network device to enable greater efficiency and automation for utilities and consumers.
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
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: | 1219473 |
| End of Announcement | EQS Group News Service |