Landis+Gyr Applauds Smart Grid U.S. Stimulus Awards

October 27, 2009

Announced $3.4 Billion includes funding support for 18 million smart meters that will empower consumers to cut energy bills, greenhouse emissions

NEW YORK, Oct. 27 /PRNewswire-USNewswire/ -- Landis+Gyr, the global leader in energy management offering utilities next generation smart grid solutions, today welcomed the announcement by President Barack Obama identifying the first of the stimulus fund awards to create jobs and modernize the U.S. electricity grid under the American Recovery and Reinvestment Act.

"This is once-in-a-generation opportunity for forward-looking utilities and consumers across the country to make a quantum leap in the technology used in electricity delivery and usage," said Richard Mora, CEO of Landis+Gyr North America. "National demand for electricity is growing three times faster than power resources are being added, making energy conservation and efficiency -- the fifth fuel -- critical. The federal government is now taking a leading role in the drive to build a smart and dynamic grid infrastructure - exhibiting the same energy and vision as the Eisenhower Administration did in building the national highway system in the 1950s."

The American Recovery and Reinvestment Act contains specific provisions for the establishment of a grant program that will support the rollout of smart grid and smart metering projects across the country. With the award details outlined today, $3.4 billion will support 100 smart grid projects in 49 of the 50 states. The comprehensive nature of the funding spans grid needs from transformers all the way to smart thermostats, and includes 18 million smart meters and 1 million in-home information display devices. Smart metering solutions provide utilities with a two-way flow of data required to manage energy use, efficiency, demand response and network protection. Consumers benefit from improved usage information, aided by in-home monitors, and with it, the ability to reduce overall energy costs and carbon footprints.

"We believe that smart metering will revolutionize energy management and grid reliability across the country, and applaud the leadership by the Department of Energy in moving as quickly as possible with the award decisions, and in particular identifying and funding 18 million smart meters that are the heart of the modernization effort," Mora said.

The potential benefits are enormous. A recent Brattle Group study found that just a five percent drop in peak demand nationally would eliminate the need for installing and running some 625 infrequently used peaking power plants, translating into annual savings of approximately $3 billion. The Department of Energy recently estimated that if the U.S. grid were just five percent more efficient, it would be the equivalent of eliminating the fuel and greenhouse gas emissions of 53 million cars.

"Our country needs new approaches on big issues such as grid modernization. We see helping people manage energy better as a much needed initiative during these challenging economic times," Mora said. "Government support is an important ingredient in the utility business' cases for smart metering solutions."

With over 1,300 employees, Landis+Gyr North America ranks as one of the leading providers of end-to-end smart meter solutions in the U.S., having recently signed major contracts with a number of leading utilities, including Texas based Oncor.

"As the worldwide leader in electricity metering," Mora said, "Landis+Gyr is ideally placed to work with utility partners to roll out smart metering projects. We look forward to playing a significant role in partnership with utilities to revolutionize the country's energy management."

ABOUT LANDIS + GYR

Landis+Gyr is the leading provider of integrated energy management solutions tailored to energy company needs. With a global presence and a reputation for quality and innovation, Landis+Gyr is unique in its ability to deliver true end-to-end advanced metering solutions. Today, the Company offers the broadest portfolio of products and services in the electricity metering industry, and is paving the way for the next generation of smart grid. With annualized sales of more than US$1.25 billion, Landis+Gyr operates in more than 30 countries across five continents, and employs over 5,000 people with the sole mission of helping the world manage energy better. For more information about Landis+Gyr Inc., please visit the corporate website at www.landisgyr.com

    For more information, in the U.S.:

    Financial Community, please contact:
    Stan March, Landis+Gyr, Senior Vice President, Corporate Communications
    tel. 646-205-3119
    Stan.March@landisgyr.com

    Media, please contact:
    Thor Valdmanis, FD
    tel. 212-850-5696
    thor.valdmanis@fd.com

SOURCE Landis+Gyr