Itron and AVECC collaborate to enhance grid resiliency and reliability using smart meters and fiber technology in Arkansas.
Quiver AI Summary
Itron, Inc. is collaborating with the National Rural Telecommunications Cooperative (NRTC) and Arkansas Valley Electric Cooperative Corporation (AVECC) to enhance the grid resiliency and reliability for AVECC’s members in the Arkansas River Valley. Utilizing its existing fiber optic network, AVECC will deploy Itron's Gen5 Riva® smart meters and fiber-enabled communications technology as part of a U.S. Department of Energy-funded smart grid initiative. This project aims to modernize AVECC's power grid, improving affordable and clean energy delivery to a rural community with over 6,000 miles of distribution lines. The integration of Itron’s Fiber MiniAP devices will increase visibility into grid data and provide enhanced member services, while improving the utility's ability to adapt to challenges like extreme weather and aging infrastructure.
Potential Positives
- Itron is partnering with AVECC and NRTC to enhance grid resiliency and reliability, indicating strong collaboration and innovation in the utility sector.
- The project is backed by funding from the U.S. Department of Energy’s Grid Resilience and Innovation Partnerships Program, showcasing governmental support and trust in Itron's technology.
- The deployment of Itron's Gen5 Riva® smart meters and Fiber MiniAP devices suggests a significant advancement in smart metering technology, enhancing operational capabilities for AVECC.
- Itron's involvement in improving energy delivery in rural areas demonstrates the company's commitment to expanding access to affordable and clean energy, aligning with broader sustainability goals.
Potential Negatives
- Depends on funding from the U.S. Department of Energy, which may indicate a reliance on government support for continued operations and innovation.
- Highlights the aging infrastructure challenges faced by AVECC, implying potential risks related to the company's technology solutions if not addressed.
- Limited visibility of Itron's own technological advancements or innovative capabilities independent of partnerships, which could suggest a dependence on collaborations for progress.
FAQ
What is the purpose of the Itron and AVECC collaboration?
The collaboration aims to improve grid resiliency and reliability for AVECC's members through smart grid technology.
What technology is AVECC deploying in this project?
AVECC is deploying Itron’s Gen5 Riva® smart meters and fiber-enabled communications technology.
How will AVECC benefit from the upgraded grid?
AVECC will enhance power delivery, improve energy affordability, and provide members with detailed consumption data.
What is the role of the U.S. Department of Energy in this project?
The project is funded through the U.S. Department of Energy’s Grid Resilience and Innovation Partnerships (GRIP) Program.
What is Itron’s commitment to rural electric cooperatives?
Itron is committed to helping cooperatives leverage technology for enhanced electric grid resilience and operational efficiency.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$ITRI Insider Trading Activity
$ITRI insiders have traded $ITRI stock on the open market 38 times in the past 6 months. Of those trades, 0 have been purchases and 38 have been sales.
Here’s a breakdown of recent trading of $ITRI stock by insiders over the last 6 months:
- THOMAS DEITRICH (President & CEO) has made 0 purchases and 9 sales selling 112,346 shares for an estimated $11,716,761.
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- JUSTIN K PATRICK (SVP, Device Solutions) has made 0 purchases and 4 sales selling 2,727 shares for an estimated $266,543.
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- MARY C. HEMMINGSEN has made 0 purchases and 2 sales selling 750 shares for an estimated $80,452.
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$ITRI Hedge Fund Activity
We have seen 209 institutional investors add shares of $ITRI stock to their portfolio, and 210 decrease their positions in their most recent quarter.
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Full Release
LIBERTY LAKE, Wash., March 06, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, and its channel partner, National Rural Telecommunications Cooperative ( NRTC ), are working together with Arkansas Valley Electric Cooperative Corporation ( AVECC ), to improve grid resiliency and reliability for AVECC’s members across the Arkansas River Valley.
AVECC is leveraging its existing fiber optic network to unlock a broad range of applications at the grid edge. As part of the collaboration, AVECC is deploying Itron’s Gen5 Riva ® smart meters and connecting them to Itron’s fiber-enabled communications technology. This smart grid project, which was awarded funding through the U.S. Department of Energy’s Grid Resilience and Innovation Partnerships ( GRIP ) Program, enables AVECC to upgrade its power grid and to improve the delivery of affordable and clean energy across the rural community, which has more than 6,000 miles of distribution lines and nearly 63,000 members across its service territory.
In 2018, AVECC launched its Advanced Smart Grid Project by deploying a Gigabit Passive Optical Network (GPON) fiber communications system that delivers secure, high-speed connectivity directly to its electric substations while also providing members with reliable, high-speed internet access. To further modernize its network, AVECC is enhancing its GPON fiber infrastructure with Itron’s Fiber MiniAP devices to connect Itron electric smart meters throughout its service territory. This will provide AVECC with greater visibility into grid operational data along with control and analytics capability at the edge of the grid. It will also enable AVECC to offer its members enhanced services and access to detailed consumption data.
The Itron Fiber MiniAP is designed to allow utilities, cooperatives or municipalities operating existing GPON fiber networks to cost-effectively extend industrial IoT (IIoT) network coverage in rural, low meter-per-mile areas. It is a flexible network device, seamlessly delivering intelligent connectivity by enabling both fiber and RF Mesh communications to connect smart grid assets for applications such as advanced metering infrastructure, distributed intelligence or grid management.
“With this project, we are initiating the next chapter in our smart grid journey. By integrating Itron technology with our fiber network, we are further modernizing our electric grid to deliver reliable and resilient energy to our members, even in remote areas,” said Chris Howek, Manager of Engineering at AVECC . “We appreciate the collaboration with Itron and NRTC as we deploy a comprehensive smart grid and improve resiliency against the growing threats of extreme weather and aging infrastructure.”
“Itron is proud to partner with AVECC on their grid modernization journey, supporting their ongoing investments in reliability, safety and member services,”
said John Marcolini, senior vice president of Networked Solutions at Itron
. “Our commitment is to empower utilities of all sizes with innovative, practical technologies that meet their needs today and help them anticipate the challenges of tomorrow.”
“We are committed to helping cooperatives leverage technology to enhance the resilience of rural America's electric grid. As an NRTC member, Arkansas Valley Electric Cooperative gains access to our technical expertise, project management, and logistical support - both now and throughout the solution’s lifecycle. With the project in motion, we’re eager to drive progress and equip the utility with modern technology," said Chad Dose, Director of AMI Solutions at NRTC.
About Itron
Itron is a proven global leader in energy, water, smart city, IIoT and intelligent infrastructure services. For utilities, cities and society, we build innovative systems, create new efficiencies, connect communities, encourage conservation and increase resourcefulness. By safeguarding our invaluable natural resources today and tomorrow, we improve the quality of life for people around the world. Join us: www.itron.com .
Itron ® , the Itron Logo and Riva® are registered trademarks of Itron, Inc in the United States and other countries and regions. MiniAP is a trademark of Itron, Inc in the United States. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.
For additional information, contact:
Itron, Inc.
Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
[email protected]
Paul Vincent
Vice President, Investor Relations
512-560-1172
[email protected]
Itron, Inc.
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