Contract is to upgrade commercial and industrial gas meters for DONG Energy Sales Ltd
Smart Metering Systems (SMS) has announced a new contract with DONG Energy Sales Ltd to exchange gas metering systems.
DONG Energy Sales, formally Shell Gas Direct, is the UK subsidiary of DONG Energy.
Under the terms of the contract, SMS will exchange existing gas meters for DONG's industrial and commercial (I&C) customers for new pulse enabled meters, including SMS's own automated meter reading solution, ADM.
The number of meters in the contract to find initial run rates is currently being established and, once installed, SMS said the meters will be included in its long-term, index-linked contracts.
Alan Foy, chief executive of SMS, said: “We are very pleased that DONG Energy Sales Ltd has decided to adopt the ADM solution as part of this contract.
“The signing of this contract is another step towards our stated aim of becoming market leader in the independent ownership of I&C meters and establishing the ADM as the industry standard smart metering solution for I&C clients.”
SMS launched onto the Alternative Investment Market (AIM) last July with a £50 million capitalisation.
The company provides gas infrastructure connection services, gas meter asset management services and smart metering technology.
SMS reported a 286 per cent rise in pre-tax profits for 2011 to £3.31 million on a 51 per cent rise in revenues to £6.6 million.
Shares in SMS rose 3.5 per cent in early trading today.