Water Energy Stocks Alert: Hong Kong Water Supplies Department Chooses Itron's Water Metering Technology
October 28, 2011 - Investorideas.com, a leader in sector research for independent investors including water stocks reports on water metering news issued today by Itron, Inc (NASDAQ: ITRI). The stock is trading at $37.40, up 0.21 (0.56%) 11:41AM EDT, with a morning high of $37.58.
Itron, Inc. (NASDAQ: ITRI) announced today that it will provide Hong Kong Water Supplies Department (WSD) with 400,000 highly accurate, residential water meters over a period of two years beginning in late 2011. The project is building on Hong Kong WSD's water conservation objectives.
As an island, Hong Kong faces limited water reserves and relies primarily on Dongjiang in Guangdong, a province in Southern China, for its water supply. With supply and storage constraints, a highly populated service territory, and increasing water demand, Hong Kong WSD needs to address these challenges by closely monitoring and managing its water resources.
One of the primary ways for Hong Kong WSD to achieve this effectively is to raise customer awareness of the value of water in effort to lower usage of this precious natural resource. Itron is helping Hong Kong WSD address these issues by delivering 400,000 volumetric water meters that provide reliable measurement and accurate invoices for end-consumers.
"This contract with Hong Kong WSD directly aligns with our vision to deliver water resource management solutions tailored to the Asia-Pacific region,” said Marcel Regnier, Itron president and COO, Water. "We are already successfully helping water providers in Macao, Singapore, Vietnam and the Philippines better manage limited water supplies, and now, with our technology, the Hong Kong water department will achieve its conservation and consumer awareness goals.”
About Itron (NASDAQ: ITRI).
At Itron, we're dedicated to delivering end-to-end smart grid and smart distribution solutions to electric, gas and water utilities around the globe. Our company is the world's leading provider of smart metering, data collection and utility software systems, with nearly 8,000 utilities worldwide relying on our technology to optimize the delivery and use of energy and water. Our offerings include electricity, gas, water and heat meters; network communication technology; collection systems and related software applications; and professional services. www.itron.com.
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