Saturday, 20 December 2014
Last updated 1 day ago
Nov 10 2009 | 10:26am ET
The world’s largest electricity-metering company, Switzerland’s Landis+Gyr, has raised $100 million from shareholders to fund its growth.
“Our existing shareholders’ active support of the company is a tribute to the global potential of smart metering and Landis+Gyr’s unique position to capitalize on that opportunity,” said Landis+Gyr CEO Cameron O’Reilly.
The company, which has been expanding its American business significantly, expects to benefit from the $3.4 billion in smart grid funding announced recently by the U.S. administration, as well as from the EU’s Energy Package, which includes a directive requiring 80% of homes to have smart meters by 2020 and 100% by 2022.
Landis+Gyr is has won more than $1 billion in new orders this year, including major contracts in Australia, across the Nordics countries, and in the United States. The company spends approximately $90 million per year on research and development. In addition to its smart metering wins, the company has also had substantial 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.