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Landis+Gyr Raises $100 Million to Grow Smart Meter Business

Landis+Gyr, an electricity metering company, recently announced the finalization of a $100 million shareholder capital raising to fund the company's growth in smart metering.

"In Europe, the EU recently announced its path-breaking Energy Package including a Directive requiring at least 80% of homes to have a smart meter by 2020 and 100% by 2022. Last week, the Obama Administration approved $3.4 billion in smart grid funding, most of which is going to accelerate the roll-out of smart metering systems across the country. Similar government and regulatory moves in Canada, Australia, and China are increasingly making this a global opportunity," said Landis+Gyr CEO, Cameron O'Reilly.

The company reports that it has won more than $1 billion of new orders around the world this year, including major contracts in Australia, across the Nordics countries, and in the United States. In addition to its smart metering, the company also claims success in South America and India with its new anti-theft technologies which enable utilities to provide electricity to areas that otherwise might go without.

Landis+Gyr has announced partnerships with SAP, Cisco, and Microsoft to accelerate the delivery of standards-based solutions for the energy industry and facilitate the integration of existing capabilities with renewable power sources, home automation, plug-in hybrid electrical vehicles (PHEV) and distribution automation functionality. The deployment of smart metering and the consequent empowerment of consumers to actively participate in the energy market is the first step towards the creation of a 'Smart Grid', an electricity network that can intelligently integrate the actions of all users connected to it - generators, consumers and those that do both - in order to efficiently deliver sustainable, economic and secure electricity supplies.