Last checked at 16 Dec 2021 10:30
IQGeo Group plc
(the "Company" or the "Group")
IQGeo selected by major US electrical utility to support grid modernisation and decarbonisation initiatives
IQGeo (AIM: IQG), a developer of geospatial productivity and collaboration software for the telecoms and utility industries, is pleased to announce that its software was selected by a major investor-owned electrical utility provider in the United States. The new contract is worth more than US $2.0 million over 3 years for software, maintenance, and support, providing the customer with access to certain modules within IQGeo's geospatial software suite. This expansion project will use a range of IQGeo technology for field design, disaster response, and mobile inspection and survey applications. The contract also includes the first deployment of IQGeo's new Network Manager Electric software that delivers comprehensive network planning and design capabilities. Network Manager Electric creates a powerful digital network twin that will play a strategic role in the company's ambitious grid modernisation and decarbonisation plans.
With distributed energy generation and the global push for decarbonisation, electrical network operators are embarking on once-in-a-generation grid modernisation initiatives. These initiatives are supported by massive public and private sector investments to help realise the imperative of smart, green, resilient networks. As one of the most innovative electrical network operators in the US, this customer is leading the industry in tackling the challenge of creating a zero-carbon network and the IQGeo software will support this effort by improving network intelligence and operational efficiency across their entire operational lifecycle.
IQGeo recognised that complex, centralised legacy GIS software cannot support the speed, collaboration, and real-time data needed to create and maintain the networks of the future. In response, the IQGeo Network Manager Electric software has been designed with agility and flexibility at its core to support the demands of a new net zero electrical network architecture. Network Manager Electric will help this customer and other operators dramatically accelerate their planning and design processes and give them the agility and visibility to manage rapidly changing network requirements.
Richard Petti, CEO, commented that "We are excited about the opportunity to partner with such a forward-thinking operator and contribute to the important shift to zero-carbon electrical networks. As an industry change-maker, this network operator has a clear imperative shared with IQGeo to accelerate all aspects of their operations to plan, construct and maintain smart networks. We are confident that our software and team of experts will give them the foundation needed to be successful with their network modernisation and net zero objectives."
For further information contact:
IQGeo Group plc +44 1223 606655
Richard Petti
Haywood Chapman
finnCap Ltd +44 20 7220 0500
Henrik Persson, Seamus Fricker (Corporate Finance)
Tim Redfern, Richard Chambers (ECM)
Notes to Editors
About IQGeo
IQGeo™ (AIM: IQG), delivers award-winning geospatial software solutions to telecommunication and utility network operators around the world ranging from large multinationals to smaller regional providers. The IQGeo software suite improves productivity and collaboration across enterprise planning, design, construction, maintenance, and sales processes reducing costs and operational risks while enhancing customer satisfaction. Our mobile-first, cloud-native software helps companies create and maintain an accurate view of their increasingly complex network assets that is easily accessible by anyone, wherever and whenever needed. Whether using our Enterprise IQGeo Platform or targeted OSPInsight fiber planning and design software, we enable a "System of Action" that breaks down information silos, improves data quality and accelerates decision making. Headquartered in Cambridge, with offices in Denver, Salt Lake City, Frankfurt and Tokyo, we work with some of the largest network infrastructure operators in the world. For more information visit: www.iqgeo.com/
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