(Alliance News) - Calisen PLC on Monday said it has been awarded preferred bidder status on 1.3 million smart meters, increasing the estimated smart meter pipeline to 7.5 million meters.
The FTSE 250 smart energy meter firm stated that combining its 5.7 million smart meters as at September 30 with the updated pipeline of 7.5 million meters, increases the projected 2025 smart meter portfolio to around 13.2 million meters.
"Securing extra meter volumes in this way is testament to the great work of our team and our trusted collaboration with energy retailers, helping them deliver on their commitments under the government's smart meter implementation plan. I am delighted that by adding more meters to our pipeline, we continue to grow our market share beyond our expectations. I am confident that the combination of our resilient business model and financial strength should see the group deliver solid growth as we build out our even larger meter portfolio over the medium term," said Calisen Chief Executive Bert Pijls.
Turning to its operations, the Manchester-based company said in the third quarter of 2020, its revenue-generating smart meter portfolio increased by 0.2 million meters from 5.5 million at June 30 to 5.7 million meters at September 30 in line with expectations.
Shares in Calisen were up 0.2% at 169.50 pence each on Monday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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