HEDNO Advances Grid Modernization with Itron Intelligent Edge Solution in Greece

Rhea-AI Summary

Itron (NASDAQ: ITRI) has secured a significant contract with Hellenic Electricity Distribution Network Operator (HEDNO), Greece's sole electricity distributor, to implement advanced grid modernization solutions. The agreement, signed on May 28, 2025, includes the deployment of Itron's Enterprise Edition Meter Data Management system to manage 7.7 million meters and Utility IQ headend system for nearly 1 million NB-IoT cellular smart meters.

The implementation will enhance HEDNO's operational efficiency, customer service, and support Greece's net-zero emissions goal by 2050. The solution includes cloud-based SaaS capabilities, integration with Microsoft Azure OpenAI, and Itron's Intelligent Edge Operating System (IEOS) for advanced grid management features.

Positive

• Contract win with one of Europe's largest electricity distributors
• System will manage 7.7 million meters, significantly expanding Itron's market presence
• Implementation of SaaS solution provides recurring revenue opportunities
• Strategic collaboration with Microsoft for AI integration enhances product offering
• Solution enables future expansion into advanced grid capabilities

Negative

• None.

Insights

Energy Technology Analyst

Itron secured a major contract with Greece's grid operator to manage 7.7M meters, boosting recurring SaaS revenue and expanding European market presence.

Itron's contract with HEDNO represents a significant win in the European utility sector. The deal involves implementing Itron's Enterprise Edition Meter Data Management system and Utility IQ headend system to manage 7.7 million meters across Greece, including nearly 1 million new intelligent NB-IoT cellular smart meters.

The strategic value of this contract extends beyond immediate revenue. By deploying their solution as a software-as-a-service (SaaS) offering, Itron secures a recurring revenue stream while reducing HEDNO's upfront capital requirements. This aligns with industry trends toward subscription-based technology models that improve vendor revenue predictability.

This implementation creates substantial operational benefits for HEDNO, including enhanced detection of technical and non-technical losses, improved revenue collection, and predictive maintenance capabilities. The pre-integration with Itron's Intelligent Edge Operating System (IEOS) positions the company to capture additional value through future upsells of advanced capabilities like distributed intelligence and energy forecasting.

Particularly noteworthy is the integration with Microsoft Azure OpenAI, leveraging HEDNO's existing Azure cloud infrastructure. This positions Itron at the intersection of utility modernization and AI advancement - a potentially valuable competitive differentiator as utilities worldwide seek to extract more value from operational data.

For investors, this contract demonstrates Itron's continued success in international markets and validates its technology leadership in grid modernization. With 50+ million endpoints already managed globally by their systems, this Greek implementation further cements Itron's position as a dominant player in utility digital transformation.

HEDNO Leverages Itron’s AMI and MDM Solutions to Enable Real-Time Insights, Efficiency and Flexibility at the Grid Edge

LIBERTY LAKE, Wash., June 24, 2025 (GLOBE NEWSWIRE) -- Itron, Inc. (NASDAQ: ITRI), which is innovating new ways for utilities and cities to manage energy and water, signed a contract on May 28, 2025 with Hellenic Electricity Distribution Network Operator S.A. (HEDNO), the sole electricity Distribution System Operator in Greece and one of the largest in Europe, to lay the foundation for grid edge intelligence. Itron’s Grid Edge Intelligence portfolio will enable HEDNO to improve its customers’ experience with enhanced energy consumption insights and modernize its electric grid to advance its long-term goals, which include integrating more distributed energy resources and achieving net-zero emissions by 2050.

HEDNO will deploy Itron’s Enterprise Edition (IEE) Meter Data Management (MDM) system, which will manage 7.7 million meters, and Itron’s Utility IQ headend system to manage nearly 1 million new intelligent narrowband-IoT (NB-IoT) cellular smart meters designed and manufactured by Itron technology partner ZIV Automation, a provider of advanced digital solutions for power grids. These solutions will enable HEDNO to improve operational efficiency while enhancing customer service through increased visibility into energy consumption, faster resolution of issues and flexible billing options.

Once deployed, HEDNO will gain immediate access to entire meter datasets, enabling more accurate detection and measurement of technical and non-technical losses, improved revenue collection, powerful asset management, secure data sharing and predictive maintenance capabilities. Itron’s IEE MDM system will connect with HEDNO’s multiple headend and customer information systems, allowing the utility to collect, process, store and analyze smart device data, device events and alarms. As a hosted software-as-a-service (SaaS) solution, Itron’s system ensures reliable availability, allowing HEDNO to focus on business operations while realizing operational and cost-saving benefits more quickly.

The future-proof solution will enable HEDNO to easily adopt new grid edge use cases over time. IEE MDM is pre-integrated with Itron’s Intelligent Edge Operating System (IEOS), a platform-as-a-service that simplifies integration and establishes a strong foundation for advanced grid capabilities like distributed intelligence, energy forecasting, distributed energy resource management, advanced analytics and more. HEDNO, already utilizing the Azure cloud, can also benefit from Itron’s strategic collaboration with Microsoft to integrate generative AI technologies – starting with Microsoft Azure OpenAI, part of Azure AI Foundry – into Itron’s IEOS, further future proofing Itron’s solution.

“Smart Metering is the most important project for the modernisation of the Greek electricity market. For the scope of this project, Itron has been assigned the supply of the Meter Data Management System, which will serve as the central system for the collection, storage, processing and advanced analysis of data from all meters. This system, the most widely used globally for meter data management, will enable us to offer significantly enhanced digital service capabilities to electricity suppliers, consumers and prosumers. At HEDNO, we remain committed to our promise of modernizing the Greek electricity energy market,” said Anastasios Manos, HEDNO CEO.

“Itron is proud to be a part of this project to enable a modernized electric grid in Greece with our proven MDM and headend systems, which each manage more than 50 million endpoints globally. Together with HEDNO and ZIV, we’re creating a scalable foundation to meet HEDNO’s evolving operational needs,” said Don Reeves, senior vice president of Outcomes at Itron. “With Itron’s pre-integrated solution and deep industry expertise, we’ll help reduce project complexity, accelerate deployment and lower total cost of ownership. We’re excited to support HEDNO in realizing the benefits of a smart, reliable and future-ready grid.”

About Itron

Itron is transforming how the world manages energy, water and city services. Our trusted intelligent infrastructure solutions help utilities and cities improve efficiency, build resilience and deliver safe, reliable and affordable service. With edge intelligence, we connect people, data insights and devices so communities can better manage the essential resources they rely on to live and thrive. Join us as we create a more resourceful world: www.itron.com.

Itron^® and the Itron Logo are registered trademarks of Itron, Inc in the United States and[/or] other countries and regions. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

For additional information, contact:

Itron, Inc.

Alison Mallahan
Senior Manager, Corporate Communications
509-891-3802
PR@Itron.com

Paul Vincent
Vice President, Investor Relations
512-560-1172
Investors@itron.com

Itron, Inc.

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FAQ

What is the significance of Itron's contract with HEDNO in Greece?

The contract enables HEDNO to modernize Greece's electric grid by implementing Itron's MDM system to manage 7.7 million meters and deploy nearly 1 million smart meters, supporting the country's path to net-zero emissions by 2050.

How will ITRI's solution benefit HEDNO's operations?

Itron's solution will provide HEDNO with enhanced energy consumption insights, faster issue resolution, flexible billing options, improved loss detection, better revenue collection, and predictive maintenance capabilities.

What technology partners is Itron working with for the HEDNO project?

Itron is partnering with ZIV Automation for smart meter manufacturing and Microsoft Azure for cloud and AI capabilities through Azure OpenAI integration.

When did Itron sign the contract with HEDNO?

Itron signed the contract with HEDNO on May 28, 2025.

How many meters will Itron's MDM system manage for HEDNO?

Itron's Enterprise Edition MDM system will manage 7.7 million meters, while the Utility IQ headend system will manage nearly 1 million new intelligent NB-IoT cellular smart meters.