Global metering solutions provider Itron, Inc. (ITRI) announced that its OpenWay smart grid network is now available globally. OpenWay system helps utilities to improve operations through energy efficiency and enhance grid security at minimum cost.
Energy demand continues to grow at a rapid pace all around the world. A secure, efficient and reliable grid is required for diverse energy supplies. To meet the rising demand, Itron provides next-generation intelligent metering products, systems and services to help electricity utilities in revenue generation, resource management and consumer satisfaction.
Itron’s OpenWay is an IP network that utilizes multiple communication options, including RF Mesh as well as cellular and power line carriers, based on localized protocol and standards. The model focuses on availability, reliability, interoperability and quality of service.
Additionally, OpenWay includes data collection, network and asset monitoring and control capabilities facilitating distribution automation, demand response and renewable integration after combining with Itron Analytics and Itron-developed or third-party devices and applications.
Itron's innovative technologies deliver accessible data to ensure the profitability of its customers. Its partnership with Cisco provides OpenWay with the best smart grid communications infrastructure. The IPv6-based network technology allows utilities to improve grid reliability, supports consumer engagement and helps them to deploy smart grid applications over a common network infrastructure.
Itron, which belongs to the electrical equipment industry along with Agilent Technologies Inc. (A) and Ametek Inc. (AME), installed around 15 million smart meters and network devices. The company has successfully completed several large-scale deployments at leading utilities in North America.
Liberty Lake, Wash.-based Itron produces electricity, gas, water, and heat meters, data collection and utility software solutions along with various associated metering products for residential, commercial and industrial, and transmission and distribution customers.
Itron currently retains a short-term Zacks Rank #3 (Hold). National Instruments Corporation (NATI), which also belongs to the same industry, is a good investment option as it sports a Zacks Rank #2 (Buy).