Itron Acquires Elpis Squared, Expands Grid Edge Intelligence Portfolio
06 March 2024 - 1:00AM
Business Wire
Acquisition to Help Accelerate the Energy
Transition with Grid Planning, Operations and Engineering
Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for
utilities and cities to manage energy and water, announced today it
is expanding its Grid Edge Intelligence portfolio through the
acquisition of Elpis Squared, an innovative provider of software
and services for utility grid operations, effective
immediately.
Founded in 2013 and headquartered in Newport Beach, CA, Elpis
Squared is modernizing the electric distribution grid by providing
innovative, cost-effective management and optimization solutions to
utilities. The acquisition will strengthen and complement Itron’s
solutions, adding expertise in grid planning, operations and
engineering to Itron’s Grid Edge Intelligence portfolio. Utilities
will now be able to accelerate how they operationalize
next-generation, high-resolution data to address the energy
transition.
Faced with increasing grid complexity utilities are seeking
capabilities to better control the volatility and disruption within
the low- and medium-voltage distribution network. The acquisition
of Elpis Squared allows Itron to embed real-time, high-resolution
grid edge data into the grid planning, operations and engineering
process – an industry first. This enables enhanced insights for
more accurate distribution grid modeling and analysis, delivering
improved performance metrics for the grid edge.
Elpis Squared is deeply integrated with utility distribution
grid operations and has more than 10 years of operational
experience with North America’s largest investor-owned utilities.
Combining Elpis Squared’s RE|Grid Suite with Itron’s Grid Edge
Intelligence solutions, which operate at utility scale across
millions of endpoints, will accelerate key elements of Itron’s
product roadmap and enable utilities to maximize the value of
existing investments with key use cases, including:
- Integrated Grid Planning: The Elpis Squared RE|Grid
Suite, including Model Validator, System Planner and Power
Analyzer, together with Itron’s AMI and high-resolution grid edge
data will improve modeling and grid edge analytics and deliver an
end-to-end approach for easy and accurate low voltage grid edge
scenario planning.
- Streamlined Scenario Planning and Impact Studies:
Studies can be run more frequently to enable more accurate forecast
planning, leading to increased carbon reduction.
- Improved Asset Planning: With high-resolution grid edge
data, the asset planning process can be improved to protect
transformer performance, extending capital investment life and
reducing operation and maintenance (O&M) costs.
- Improved Wildfire Prevention and Mitigation: Combining
the power of Elpis Squared’s RE|Grid Model Validator and Service
Optimizer, and Itron’s Grid Edge Intelligence solutions powers
anomaly data and will dramatically improve location analytics.
“The acquisition of Elpis Squared strengthens Itron’s Grid Edge
Intelligence portfolio and will accelerate our product roadmap to
create more value for our customers,” said Don Reeves, senior vice
president of Outcomes at Itron. “We look forward to enabling
customers to solve critical operational challenges by embedding
Itron’s grid edge data and insights into utilities’ grid planning
and operations, addressing the energy transition.”
“We are excited to be acquired by Itron as we help utilities
navigate a transforming grid with confidence,” said Bryan Wright,
CEO of Elpis Squared. “By adding our RE|Grid Suite to Itron’s Grid
Edge Intelligence portfolio, Itron will catalyze the transformation
of energy infrastructure and help utilities enhance resource
productivity and create a sustainable, resilient and interconnected
energy ecosystem.”
Elpis Squared solutions are available immediately to Itron’s
customers in North America. Integrated solutions with Itron’s Grid
Edge Intelligence portfolio are expected to be available in Q4
2024. To learn more about Elpis Squared’s solutions, visit
https://elpis2.com.
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® is a registered trademark of Itron, Inc. 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.
Additional Resources
- LinkedIn: www.linkedin.com/company/itroninc
- X: https://twitter.com/ItronInc
- Newsroom: www.itron.com/company/newsroom
- Blog: https://blogs.itron.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240305382311/en/
Itron, Inc. Alison Mallahan Senior Manager, Corporate
Communications 509-891-3802 PR@Itron.com
Itron (NASDAQ:ITRI)
Historical Stock Chart
From Apr 2024 to May 2024
Itron (NASDAQ:ITRI)
Historical Stock Chart
From May 2023 to May 2024