Itron Inc - ITRI STOCK NEWS

Itron (NASDAQ: ITRI) has announced a call for nominations for the 2024 Itron Innovator Award, recognizing utility or city customers who have implemented cutting-edge solutions using Itron's Technology Partner Enablement Program. The award aims to highlight projects that address energy or water challenges or contribute to creating a more resourceful world. Nominations are open until September 6, 2024, and the winner will be announced at Itron Inspire 2024.

Eligible projects must be piloted, deployed, or have quantifiable outcomes, and integrate successfully with Itron's solutions. The 2023 winner, Tampa Electric Company, was recognized for its Smart Cities and Load Management programs. Itron collaborates with over 200 global partners to enhance its solutions and customer experience, enabling cities and utilities to address critical challenges in energy, water, and smart city management.

Itron, Inc. (NASDAQ: ITRI) has reached a significant milestone, shipping over 1 million Cyble 5 water communication modules. The millionth module was delivered to Severn Trent Water, one of the largest U.K. water utilities. This deployment is part of Severn Trent's Green Recovery Program, aimed at addressing climate disruption impacts and supporting economic vitality.

The Cyble 5 module transforms mechanical meters into communication data endpoints, enabling utilities to digitalize their water networks. Connected through a LoRaWAN network provided by Itron's partner Connexin, the solution offers Advanced Metering Infrastructure capabilities. Severn Trent Water is deploying 400,000 smart meters equipped with Cyble 5 modules, which will help improve consumer engagement, reduce water waste, and manage leaks proactively.

This technology has already helped Severn Trent achieve a demand reduction of almost four mega litres of water daily across their network, surpassing expectations. The milestone underscores Itron's commitment to helping utilities lower operational costs and achieve sustainability goals through network digitalization.

Itron, Inc. (NASDAQ: ITRI) announced its flagship customer event, Itron Inspire 2024, scheduled for Oct. 4-10, 2024, at the JW Marriott Desert Springs Resort & Spa in Palm Desert, California. The event will feature keynote presentations from Southern California Edison's SVP and CIO, Todd Inlander, and Dr. Michael E. Webber from the University of Texas at Austin. With over 75 breakout sessions and major networking events, the conference aims to gather more than 1,200 industry leaders from over 250 utilities to explore solutions for a sustainable future in energy and water management.

Itron will release its 2024 Resourcefulness Insight Report during the conference, focusing on AI and machine learning impacts in the utility industry. The event will showcase Itron's leadership in developing intelligent, resilient, and reliable electricity, gas, and water systems.

Itron, innovating in utility and city energy and water management, will announce its second-quarter financial results on August 1, 2024, prior to market opening. The results, covering the quarter ending June 30, 2024, will be accessible on Itron's investor page at 8:30 a.m. EDT. A management conference call will follow at 10 a.m. EDT, available via live webcast. Participants can register for the webcast in advance and access the replay until August 9, 2024.

Itron (NASDAQ: ITRI) has announced the pricing of its $700 million offering of 1.375% convertible senior notes due 2030, upsized from $500 million. The notes, aimed at qualified institutional buyers, will mature on July 15, 2030, unless converted, redeemed, or repurchased earlier. They will accrue interest biannually starting January 2025 and have a conversion rate of 7.6199 shares per $1,000 principal amount, equating to a $131.24 per share conversion price. Proceeds, estimated at $681.1 million, will fund capped call transactions, share repurchases, debt repayment, and general corporate purposes. The company has granted initial purchasers an option to buy an additional $105 million in notes.

Itron (NASDAQ: ITRI) announced a private offering of $500 million in convertible senior notes due 2030 to qualified institutional buyers under Rule 144A. The offering includes an option to purchase an additional $75 million in notes. The proceeds will fund capped call transactions to mitigate stock dilution and repurchase up to $100 million of its common stock. Remaining funds may repay existing debts or support potential acquisitions. The notes are not registered under the Securities Act and cannot be publicly traded without registration or exemption.

Itron (NASDAQ: ITRI) has announced that Integra S.R.L., a utility services provider in Italy, Switzerland, and Albania, has become the first Itron Engage Sales Channel Partner in Italy. This partnership will enable local utilities and cities in Italy to enhance their grid infrastructure using Itron’s energy and water management solutions.

The collaboration offers several benefits, including shorter delivery times, reduced shipping costs, and personalized technical assistance. Integra will provide installation help, maintenance support, and continuous after-sales service. This partnership aims to strengthen local business relationships and streamline the deployment of Itron's products, such as automated meter reading systems and advanced metering infrastructure.

Massimo Carbone, CEO of Integra, expressed enthusiasm about expanding access to Itron’s solutions in Italy. Gregory Raby, EMEA Channel Partner Leader at Itron, emphasized the ongoing training and support provided through the Itron Engage Sales Channel Partner Program, highlighting the mutual benefits of the collaboration.

Itron (NASDAQ: ITRI) has partnered with VODA.ai to introduce Pipe Asset Management, a solution designed to help water utilities identify, predict, and prioritize water pipe replacements using artificial intelligence. Combining Itron’s detailed meter data with VODA.ai’s daVinci™ AI engine, the tool analyzes existing utility data and public data such as soil and terrain to pinpoint at-risk pipes. The collaboration aims to reduce costs and improve decision-making for utilities, with an emphasis on identifying and managing non-revenue water and lead pipe replacements. This initiative addresses the significant issue of aging water infrastructure, with 20% of U.S. and Canadian water pipes past their useful life. Itron's solution is globally available and will be showcased at the AWWA’s Annual Conference & Expo (ACE24).

Itron has released its 2023 Corporate Sustainability Report, detailing significant achievements in reducing carbon emissions and enhancing customer resourcefulness. The company surpassed its goal to cut owned carbon emissions by 50% five years ahead of schedule, achieving this milestone in 2023. Key highlights include enabling customers to avoid 6.8 million metric tons of greenhouse gas emissions through advanced grid edge intelligence and smart city solutions. Itron also achieved 88% ISO 14001 certification across its manufacturing facilities, showcasing its commitment to environmental management. The report underscores the company's focus on integrity, with a diverse board composition and recognition for fostering an inclusive workplace. Itron's emphasis on sustainability, ethical business practices, and community support is evident in its comprehensive 2023 strategy.