Itron Installs its First Heat Cost Allocation Solution in Spain

LIBERTY LAKE, Wash.—July 14, 2015—Itron, Inc. (NASDAQ: ITRI) announced today that Ullastres, one of the largest service companies in Spain for electricity, gas and water meter reading and sub-metering, has successfully installed a solid base of Itron's EquaScan heat cost allocation solution in its service territory. EquaScan aids in allocating water and heat costs for consumers in multi-dwelling properties.

Present in the Spanish market for more than 100 years, Ullastres is a multi-utility company performing various operations, including meter reading, consumer billing and energy saving control across Spain. Itron's EquaScan solution, consisting of electronic heat cost allocators (EHCA) and water meters communicating over a radio network to EquaScan data collection software, enables Ullastres to reliably and accurately allocate energy and water use to end-customers based on actual consumption.

The solution also provides residents with the tools and visibility to understand individual energy usage, allowing them to change behavior in order to reduce bills and conserve resources. Clear and accurate bills also allow Ullastres to increase service levels and offer energy saving tips.

The project represents a growing segment in the Spanish allocation industry, with European Union legislation around energy efficiency driving the need to accurately allocate energy and water use for apartment buildings and similar properties.

"The allocation industry offers a strong potential for Ullastres, especially in the heat segment, and it is essential that we have a solutions provider on board who understands this and can provide the products and services that are required," said Iván Ullastres, chief executive officer for Ullastres. "We have been working closely with Itron for a number of years and their quality and consistency have been key factors for selecting them to help us in our quest to provide the highest of service levels and accurate bills for our customers."

"We are proud that we have expanded our work with Ullastres, the highly professional and visionary service company in Spain. Itron is committed to supporting Ullastres with our innovative EquaScan solution and complete allocation portfolio," said Harald Joellenbeck, vice president of sales, marketing and delivery for heat and allocation solutions at Itron. "We are optimistic about our extended collaboration with Ullastres. Together, we will benefit from the new opportunities coming in the Spanish allocation industry, helping customers optimize and reduce their energy consumption."