Energy Intellect secures NZ$1.3 million deal

Energy Intellect secures NZ$1.3 million deal

WELLINGTON, NEW ZEALAND – 12 July 2006 – Wellington-based metering company Energy Intellect Ltd has secured a NZD $1.3 million deal for the supply of smart electricity meters and wireless communication products to Stream Information Limited.

Stream provides metering services and usage information to the New Zealand commercial and industrial energy sector. Its customers include The Warehouse retail chain, McDonald’s restaurants, Telecom New Zealand, and Lion Breweries.

The deal will see Stream deploy the new devices in a nationwide rollout of approximately 2800 smart meters and integrated modems ahead of the decommissioning in March 2007 of the Telecom New Zealand legacy analogue cellular network.

Vector Limited, New Zealand’s largest energy infrastructure asset owner and manager, has equity investments in both Stream Information and Energy Intellect.

About Energy Intellect

Energy Intellect is a privately held company with over 10 years experience in the utilities sector. The Company produces a range of metering and data communications products, and data management platforms, which assist electricity utilities and end consumers to work smarter, reduce energy consumption, and increase operational efficiency and service quality.

Energy generation cost pressures, predicted price escalations, network infrastructure limitations, deregulation and market competition, and new energy efficiency programmes, are universal challenges facing the utility sector. These challenges are accelerating the migration to AMR (Automatic Meter Reading) and MDM (Meter Data Management) platforms.

Energy Intellect focuses upon the commercial and industrial AMR and MDM niche, and is enabling utilities and energy consumers to secure relevant, timely information and make informed decisions about their energy assets.

The company has built a strong presence in the Australian metering market, providing products and services to the majority of Australia’s leading electricity utilities and retailers. Energy Intellect’s software platform is currently reading and managing data for more than 16,000 meters in Australasia, providing vital usage data and consumption information to energy users, retailers, networks, and market settlement agents.

Energy Intellect has plans to take its metering and data solutions into new international markets, and will launch a new-generation of metering products and software platforms in 2007.

Energy Intellect has reported increased revenues of 22% FY06, and forecasts similar or better performance FY07.

Ends

© Scoop Media