Itron and Hager Group Enter Partnership to Develop Smart Metering Technologies for the German Market

Brussels, Belgium / Blieskastel, Germany — Sept. 22, 2010 — Itron Inc. (NASDAQ: ITRI) and Hager Group announced today the signing of a strategic partnership agreement in order to meet the requirements of the evolving smart metering environment in Germany.

The companies have entered into a partnership to expand their operations in Germany first, whereas Itron will benefit from Hager's experience pioneering in the modular eHZ electricity meter concept and BKE meter board socket technology, and Hager will benefit from Itron's proven meter design and manufacturing expertise.

Under the agreement, Itron and Hager will sell the existing and first-generation of Hager's eHZ meters, while co-developing and manufacturing the next-generation of modular metering solutions. In the longer term, the new modular solutions will interface with home automation devices and the smart grid through a communication module.

"We believe this partnership will yield great benefits for our clients. Combining the strengths of both companies in the area of modular metering solutions will create significant momentum towards the implementation of systems that enable the efficient usage of electrical energy, and will contribute to meeting industry challenges related to climate protection goals," said Daniel Hager, CEO of the Hager Group.

"The combination of Hager's expertise in home automation and Itron's leadership in smart metering solutions creates a valuable contribution to the smart home as part of the smart grid," added Marcel Regnier, senior vice president and COO, Itron International. "Through this collaborative agreement, the two companies will help utilities offer innovative and enhanced services to their customers, realizing a smarter energy future."