Livingston, U.K. --- (METERING.COM) --- December 11, 2007 – U.K.-based Energy Asset Management (EAM) reports that exciting contracts have either been signed or are in advanced stages of negotiation, demonstrating that there is strong market appetite for the company’s metering and data provision services. In anticipation of the accelerated growth the EAM has decided to expand its IT infrastructure to facilitate the use of a hand held works management system by field operatives in order to further improve efficiency and effectiveness.
Following successful implementation of its electricity metering project with Woolworths, services provided by Energy Assets Limited (a wholly-owned subsidiary of EAM) have been extended to include gas metering and data collection services, including the installation and management of a SMS-enabled gas metering solution. Installations are underway.
Similar success has been achieved on the Marks and Spencer gas meter data collection contract, which has now been extended to incorporate gas meter exchanges for a further 100 sites. The gas metering project has now been extended to specific Marks and Spencer electricity and water metering sites. EAL's success with Woolworths and Marks and Spencer has generated interest from other similar high street retail groups and the company is presently at varying levels of negotiations with a number of these, with trials underway in some cases.
EAM’s present strategic alliance with IMServ, a subsidiary of Invensys Plc, has introduced several high street and blue chip names to its portfolio, ranging from local authorities to public service and leading financial institutions. These prospects are existing customers of IMServ and a smooth transition into these customers is expected.
EAL has recently successfully completed a significant gas meter exchange and data collection program on behalf of a major local authority. The directors believe that this program will be extended to position EAL as the local authority's exclusive metering services provider.
EAL has also signed a further three long term contracts with established energy suppliers for the provision of new and exchange metering services and data collection and management services. Contract discussions are progressing at varying stages with a further five energy suppliers to provide similar services.
A unique opportunity has been presented to EAL to collaborate with an independent gas transporter. This opportunity introduces EAL to the potential of 15,000-20,000 new domestic, industrial and commercial metering installations on an annual basis. Medium term contracts have been signed and implementation is underway. This opportunity also extends to smart metering and the potential to become involved in social housing and fuel poverty projects, which all attract Government grant funding.
Projects of public interest include the provision of services as the Tower of London, Windsor Castle, O2 Arena (Millennium Dome) and the Liverpool Arena and Convention Centre. They are all major tourist attractions and EAL meters and data collection solutions have recently been fitted at each of the sites.
Managing Director Alan McKeating, stated: "The business is now in a strong position and significant effort is now being focused on progressing, mobilizing and implementing current contractual agreements with customers for new and existing business. The Board is confident that the potential for the business exceeds our original expectations, as the intent to become "green", combat rising energy costs, allied to the need to conserve dwindling energy resources are all factors driving major industrial and commercial customers towards the need for our competitively priced and efficiently delivered metering and data provision services."