Itron Delivers Heat Cost Allocation Solution in Italy

LIBERTY LAKE, Wash.—Oct. 6, 2015—Itron, Inc. (NASDAQ: ITRI), a world-leading technology and services company, announced today that it is working with its longtime customer Oilcontrol, provider of usage based billing services for heat and water, to accurately and securely measure, manage and allocate heat energy costs to consumers in multi-housing dwellings. Serving approximately 100,000 apartments in the northern regions of Italy, Oilcontrol is one of the leading companies for consumption-based invoicing for heat and water. The company is installing Itron's EquaScan heat cost allocation solution to bill apartment building residents based on their actual consumption.

With the solution, Oilcontrol is improving service quality with efficient and reliable meter readings, and fast and accurate bills. The solution gives tenants visibility into individual energy usage, empowering them to foster more conscious heating habits to save money and conserve resources. The solution also gives end-users more privacy with remote data collection, eliminating the need for reading personnel to enter residents' apartments to collect reads.

Oilcontrol and Itron signed a contract for electronic heat cost allocators, master radio units as well as Equascan software. As a part of the contract, Itron is providing technical support and training.

"We have worked closely and successfully with Itron in the area of water and heat metering for more than 20 years. We are confident that Itron's progressive heat cost allocation solution will help further improve our strong competitive position in the usage based billing industry," said Hans Paul Griesser, managing director at Oilcontrol.

"We are proud of the long-standing relationship we have had with Oilcontrol for more than 20 years. Itron is committed to developing solutions that meet our customers' needs and Oilcontrol is another great example of this commitment," said Harald Joellenbeck, vice president of sales, marketing and delivery for heat and allocation solutions at Itron. "We look forward to continuing our collaboration with Oilcontrol as we develop innovative solutions and diversify our portfolio to tackle any challenges ahead. Together, we will benefit from the new opportunities to come."