A contract of over $200 million was granted by the Memphis Light, Water & Gas (MLGW) to the New Jersey- based multinational company Honeywell International Inc.
The firm is all set to arrange its Elster Energy Axis, AMI (Airline Modifiable Information) as well as advanced metering technology across the regions that come under the wing of MLGW.
The project report boasts of nearly 1 million electric, gas and water smart meters. It also comprises of communicative modules which will be instrumental in the implementation of automated meter reading and software solutions to manage and analyze data.
MGLW augurs that this project will be tremendously beneficial to them as it will be monetarily efficient and save time as well. Since the collection of metering data will be entirely automated, the accuracy levels will be high, thereby elevating the over-all deftness of the project.
The project will be conclusively completed by 2020 according to the report. Honeywell has great expectations and a staunch belief in this venture as it will help them expand their energy business at home.
Ever since Honeywell acquired Elster at the end of 2015, a purchase of the highest magnitude for the company since 1999, its technological portfolio has enhanced and so has its customer radius.
This step in the growth ladder was preceded by another agreement that Honeywell signed with Vietnam for the provision of gas processing plants and advanced automation systems to manufacture LPG (liquefied petroleum gas) across the region.
Source : nasdaq.com