Smart Meter Specialist Landis+Gyr Raises $100M from Shareholders

Nov 10 2009 | 11:26am 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.


In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of