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Itron, Cisco Working Together On L.A. Smart Grid(FinancialWire via COMTEX) -- November 13, 2012 (FinancialWire) -- Water metering systems company Itron Inc. (NASDAQ: ITRI) recently announced that the Los Angeles Department of Water and Power (LADWP), the nation's largest municipal utility, has selected Itron and Cisco (NASDAQ: CSCO) technologies for its smart grid demonstration project. The project, supported by U.S. Department of Energy ARRA funding, will reportedly provide the city with the ability to evaluate technology and program benefits as part of its continuing grid modernization and infrastructure improvements. LADWP will install up to 52,000 Itron smart electric meters and 20 smart water modules that will operate over an integrated cellular and multi-application IPv6 communication network based on the Cisco GridBlocksTM architecture using Cisco Connected Grid routers and Network Management System, according to Itron company officials. In partnership with Cisco Services, LADWP will be able to deploy a secure, scalable communications infrastructure, with installation scheduled to be complete by fall 2013, noted Itron. The project will reportedly allow evaluation and development of increased energy efficiency and grid reliability, improved water resource management, and new programs and services for customers. In addition, it will create a foundation for the integration of electric vehicles onto the grid, said Itron. "We look forward to working with Itron, Cisco and other developers as part of our demonstration project to prove the viability and evaluate the benefits of smart grid and smart water technologies for both DWP and our customers," said Aram Benyamin, Senior Assistant General Manager, Power System at LADWP. "LADWP is a truly visionary utility and we are excited to support their smart grid demonstration project," said Philip Mezey, president and COO of Itron Energy. "With Itron's smart grid solution, LADWP could have a technology platform in place to manage the delivery and use of energy and water resources and build a more sustainable future." Itron Inc. (approx market cap. US$ 1.5 bil.) provides metering solutions, meter data management software and knowledge application solutions to electric, natural gas and water utilities worldwide. The company offers electricity, natural gas, and water metering systems in three categories: standard, advanced, and smart. The company was founded in 1977 and is headquartered in Liberty Lake, Washington. Itron employs approximately 9,600 people. ========= ITRI stock info: Last quote at close: $38.77 Last close vs. 50-day moving avg.: -7.2% Last close vs. 200-day moving avg.: -5.1% Last close vs. 52-wk high: -23.0% 3-mo. avg. daily volume: 273,486 shares Approx. avg. daily money volume: $11,420,775 ========= OTHER FEATURED ARTICLES: "GP Strategies Posts Strong 3rd Quarter" (at http://www.financialwire.net/issues/2012_11/13/gpx-fibnancials.htm) "TeleCommunication Named Awardee On $10 Billion DOD Contract" (at http://www.financialwire.net/issues/2012_11/13/tsys-dod-contract.htm) "STEC Reports Unimpressive Financials" (at http://www.financialwire.net/issues/2012_11/13/stec-financials.htm) ========= INDEPENDENT EQUITY RESEARCH for companies mentioned in the news is available through the Investrend Research Syndicate (at http://www.investrend.com/research/resources/). Free ANNUAL REPORTS and COMPANY FILINGS for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/ level=279). ========= FIRSTALERT(tm), an adjunct dissemination of FinancialWire(tm), provides news summaries, special commentary and insight, as well as daily and weekly digests to the financial community. ========= FINANCIALWIRE(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject companies, associated entities or individuals for its news, opinions or distributions. Contact FinancialWire(tm) directly via the FinancialWire(tm) website (at http://www.financialwire.net/contact/). Copyright (C) MMXII, FinancialWire(tm); All rights reserved. ========= Stocks: Itron Inc. (NASDAQ: ITRI) / Cisco Systems (NASDAQ: CSCO) ========= http://www.financialwire.net |