Cameron O'Reilly's smart metering company, Landis+Gyr, has landed a contract with a Californian utility company potentially worth almost €75m.
The company has been chosen by the Sacramento Municipal Utility District to supply 620,000 smart metres for use in the deployment of the company's advanced metering infrastructure. Although a US spokesman for Landis+Gyr was unable to comment on the value of the contract, industry standards set the cost of smart meters at around €120 each, meaning the company could pull in €74.4m. The company will also provide meter management software and installation training under the four year deal.
Switzerland based Landis+Gyr operates in over 30 countries, employing more than 5,000 people, and had a turnover of $1.36bn last year. It was awarded a $360m contract to supply three million smart meters in Texas last year.