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Itron (ITRI): Changewave eyes smart grids
In his ChangeWave Investing, he suggests, "As the top supplier of smart meters and meter infrastructure for the electricity industry, Itron is by far the best-positioned company for the smart grid build-out." "The build-out of smart grids employs technologies that deployed across an energy grid which allow greater efficiency and flexibility during energy distribution and transmission. "As the top supplier of smart meters and meter infrastructure for the electricity industry, Itron is by far the best-positioned company for the smart grid build-out. 
"The company also manufactures meters for the gas and water industries, and will benefit from increased spending as these networks made 'smarter.' "Notably, in our ChangeWave Alliance's recent infrastructure survey, among smart grid technologies smart meters and meter infrastructure are seen as experiencing the most growth (+36) during the next year. "Itron makes two types of meters. The older automatic meter reading (AMR) type send, but don't receive data. The newer 'smart' meters (advanced meter infrastructure, or AMI) are loaded with two-way communication capabilities to link utilities with their customers. "Obviously, the growth will come from increasing sales of AMI, which are purchased by large utilities around the United States as these power suppliers deploy the new units throughout their grids. "Utilities have been slow to adopt the new meters, but ITRI got a big boost recently after the U.S. Department of Energy (DOE) boosted the size of grants available under a program aimed at developing a 'smart' electric power grid nationwide. "The DOE increased the size of smart grid projects that are eligible for stimulus funds from $20 million to $200 million each. The agency also outlined the open standards for meters, grid networks and security that it intends to favor. "Unquestionably, ITRI is the big winner since larger utilities are expected to prefer the company's open standard architecture, scalability and superior product offerings. "Since Itron already complies with the DOE-supported standards, the company will surely receive a boost later this year and into 2010, when grants are awarded. "Itron's shares have climbed recently, but they could make a run to 2008 highs (above $100) as further details about smart grid initiatives are revealed and utilities pick up the pace and size of their orders for smart meters." |
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