Itron Strengthens Energy Efficiency Position with SmartSynch Acquisition

 
 

Liberty Lake-based Itron, Inc. (NASDAQ:ITRI) announced today that it has signed an agreement to acquire privately held SmartSynch, Inc. for $100 million. The acquisition will strengthen Itron’s integrated cellular communications offering.

 “SmartSynch is a compelling strategic acquisition that strengthens our position in the industry and with our energy and water utility customers,” said LeRoy Nosbaum, Itron president and chief executive officer in a statement. “SmartSynch brings a highly complementary technology to our existing communication network offering, broadens our portfolio and enhances Itron’s ability to support our customers with their smart grid projects.”

 

Here's the press release:

 

SmartSynch, headquartered in Jackson, Mississippi, is a leading provider of point-to-point smart grid solutions that utilize a cellular network for communications. The company has more than 130 customers, including nine of the top ten utilities in North America. SmartSynch and Itron have partnered for more than a decade, delivering integrated solutions to some of Itron’s largest smart grid customers. Itron and SmartSynch’s complementary technologies can be used to provide a solution in areas where RF mesh networks are not available, or are cost prohibitive. In addition, SmartSynch’s technology will successfully meet the needs of full cellular smart grid network deployments, such as the 1.9 million electric residential and commercial & industrial meter end-point deployment at Consumers Energy.

“Utility customers are demanding more options and this is a combination that just makes sense,” said Stephen Johnston, SmartSynch chief executive officer. “Our companies share existing customer relationships, integrated technologies and a common culture that will enable us to pursue new opportunities. Itron’s diversified portfolio, combined with our cellular technology, makes us the best team in the business going forward.”

2016 Community Impact Awards: Green Products & Services

2016 Community Impact Awards: Green Products & Services

Winner: Optimum Energy, Itek Energy, Rice Fergus Miller
| FROM THE PRINT EDITION |
 
 

Gold Award:
Optimum Energy
Location: Seattle  |  Employees: 60  |  Top Exec: Bert Valdman, president/CEO   |  optimumenergyco.com

“Being green” is not a trend at Optimum Energy. The company, which enables campuses, health care facilities, pharmaceutical plants, data centers and other commercial buildings to cut energy costs by up to 50 percent, believes society must reverse the pace of climate change. The firm’s cloud-based platform and its associated technology optimize heating, ventilation and air conditioning (HVAC) systems, the largest consumer of energy in most buildings. This technology has enabled customers to save about 500 million kilowatt hours of electricity, reduce carbon emissions by nearly 290,000 metric tons and save more than 100 million gallons of water. “We have to reverse the pace of climate change, and we can’t do that unless we’re able to do more with fewer economic and physical resources, without comprising the environment,” says CEO Bert Valdman. “Accepting the status quo is not an option. We must develop the tools and technology to become more sustainable. And we must do so on a straight-up economic basis, without subsidies.”

Silver Award: 
Itek Energy
Location: Bellingham  |  Employees: 88  |  Top Exec: John Flanagan, founder/CEO  |  itekenergy.com

Itek Energy manufactures high-powered solar modules in Bellingham. The company also works with nonprofits to power low-income housing, the Bellingham Food Bank, homeless shelters and community buildings. In the past four years, Itek Energy has locally built and sold in Washington more than 160,000 solar modules, which will produce more than 50 gigawatt hours of renewable energy every year. 

Silver Award:
Rice Fergus Miller
Location: Bremerton  |  Employees: 44  |  Top Exec: Steve Rice, principal  |  rfmarch.com

Architectural, interior design, planning and visualization services to several markets, including senior living, fire and emergency services, health care, hospitality and community. For almost three decades, the firm has focused on projects that build and strengthen community. The company is housed in a reclaimed auto service center that is one of the most energy-efficient buildings in the United States.