Itron, Inc. (NASDAQ:ITRI) and Teplocom Holding, the leader in thermal energy metering and associated services in Russia, announced today a strategic alliance to jointly develop and market metering solutions technologies in Russia. The cooperation agreement was signed by Itron and Teplocom on Nov. 27 during the Franco-Russian Intergovernmental Seminar, the major annual meeting in presence of both Prime Ministers, Dmitry Medvedev and Jean-Marc Ayrault.
Taking into consideration the move of the Russian metering market towards high-end water and thermal energy metering products and systems, the two companies have decided to join forces in order to offer the most comprehensive and suitable global solutions dedicated to water and energy management.
As part of the agreement, Itron and Teplocom Holding will jointly develop and market a thermal energy meter consisting of Teplocom’s calculator and Itron’s ultrasonic flow meter. The companies will also customize Itron’s meter data management solution according to Russian requirements and adapt Teplocom’s products to Itron’s data collection, data management and data utilization systems. In addition, Itron’s products and solutions will be distributed through Teplocom Holding’s affiliates, Trade House and Energy Complex Integrator, in Russia.
“With a federal law aiming at increasing energy efficiency, the Russian market is going through major technological changes which require high-end and multi-energy solutions,” said Andrey Lipatov, CEO of Teplocom Holding. “Combining Teplocom’s leadership position in the market with Itron’s global expertise in advanced metering solutions made it a natural fit to meet our country’s challenges.”“We are very excited to bring our industry knowledge and value in the energy saving programs and modernization of public services to Russia,” said Mathias Martin, vice president business development for Itron Water. “Itron and Teplocom will jointly leverage our respective strengths to deliver best-in-class products, solutions and services to the water and energy market in Russia.” About Itron Itron is a global technology company. We build solutions that help utilities measure, manage and analyze energy and water. Our broad product portfolio includes electricity, gas, water and thermal energy measurement and control technology; communications systems; software; and professional services. With thousands of employees supporting nearly 8,000 utilities in more than 100 countries, Itron empowers utilities to responsibly and efficiently manage energy and water resources. Join us in creating a more resourceful world; start here: www.itron.com. About Teplocom Holding Teplocom Holding is one of the biggest Russian manufacture and sales associations in instrument production industry in the sphere of efficient use of resources.
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