Avnet to Support South East Water’s Mass Digital Meter Deployment

Rhea-AI Summary

Avnet (Nasdaq: AVT) has secured a contract to supply Huizhong's SCL61H-100 smart ultrasonic water meters for South East Water's Digital Meters program, the largest smart meter rollout in Australia. This initiative aims to reduce water wastage and operational costs. The smart meters feature a proprietary vibration sensor developed by South East Water, enabling accurate network leak detection.

Avnet has established a dedicated water meter test lab in Melbourne to support the mass rollout. The advanced meters will provide consumers with near real-time water usage data. In 2023-24, South East Water's customer leak notifications saved approximately 683 million liters of water and $2.9 million for customers. The network leak monitoring program saved an additional 140 million liters of drinking water through early identification and repair of leaks.

Positive

• Secured contract for large-scale smart water meter deployment in Australia
• Established dedicated water meter test lab to support rollout
• Partnership aligns with Avnet's IoT strategy and sustainability goals
• Potential for increased revenue and market share in smart water meter sector

Negative

• None.

Financial Analyst

Avnet's contract with South East Water for smart water meters is a positive development for the company. While specific financial figures aren't disclosed, this deal represents a significant market opportunity in Australia's growing smart meter sector. The partnership aligns with Avnet's IoT strategy and could enhance its revenue stream in the long term. However, investors should note that the impact on Avnet's overall financial performance may be in the short term, given the company's diverse global operations. The establishment of a dedicated water meter test lab demonstrates Avnet's commitment to this sector, potentially opening doors for similar contracts in the future.

Tech Expert

The integration of South East Water's proprietary vibration sensor into Huizhong's smart meters is a technological breakthrough. This innovation allows for precise leak detection and localization, significantly improving water management efficiency. The $2.9 million in customer savings and 823 million liters of water conserved demonstrate the tangible benefits of this technology. For Avnet, this partnership showcases its ability to facilitate complex IoT solutions, positioning it as a key player in the smart utility sector. The company's involvement from design to delivery highlights its end-to-end capabilities in IoT implementation, which could attract similar high-value contracts in other utilities and smart city projects globally.

Environmental Analyst

This initiative marks a significant step towards water conservation in Australia. The deployment of smart meters addresses the critical issue of non-revenue water, which is both an economic and environmental concern. The project's success in saving 683 million liters through customer leak notifications and 140 million liters through network leak monitoring is substantial. These results underscore the potential for large-scale environmental impact as the program expands. For investors, this demonstrates Avnet's growing role in sustainability-focused technologies, which could become increasingly valuable as global water scarcity issues intensify. The project aligns with ESG investment trends, potentially enhancing Avnet's appeal to environmentally conscious investors.

To support South East Water’s mass rollout, Avnet has set up a water meter test lab at its Bayswater facility in Melbourne for verification testing.

MELBOURNE, Australia--(BUSINESS WIRE)-- Avnet (Nasdaq: AVT), a leading global technology solutions company, has been awarded a contract to supply Huizhong’s SCL61H-100 smart ultrasonic water meters to South East Water’s Digital Meters program.

South East Water is undertaking the largest rollout of smart meters in Australia. The deployment of Huizhong’s smart water meters aligns with the water utility’s aim to significantly reduce water wastage, a critical issue as non-revenue water—water lost to leaks and bursts in distribution systems—represents a substantial operational cost for water utilities as well as an environmental issue.

South East Water have pioneered the integration of sensors into smart meters. By integrating a proprietary vibration sensor, developed and patented by South East Water, these smart meters will facilitate accurate network leak detection. As data is ingested into South East Water’s Lentic IoT platform, the vibration strength is triangulated thereby pinpointing the exact location of leaks in the network, the type of leak and potentially whether it is escalating into a burst. This helps South East Water reduce non-revenue water, lower operational costs, and ultimately provide cost savings to consumers.

Aik Hoon, Regional President, South Asia, Korea and Avnet United said this partnership perfectly embodies our commitment to sustainability.

“By collaborating with South East Water and Huizhong, we’re not only advancing pioneering technology but also making meaningful strides to reduce water waste and enhance resource management. It’s deeply rewarding to see our efforts contribute to a more sustainable and resilient future for the communities we serve,” said Aik Hoon.

South East Water General Manager, Digital Utility, Mark Elvins said, following a rigorous tender process, the organisation is excited to realise the cost savings and sustainability benefits the digital water meters will deliver for customers, the community and the environment.

“We are excited to partner with Avnet. As we look to the future, we need to build resilience into Australia’s water network to continue to respond to the challenges of water scarcity, a changing climate and growing population,” said Mr Elvins.

To support South East Water’s mass rollout, Avnet has established a dedicated water meter test lab at its Bayswater facility in Melbourne for thorough verification testing. These advanced meters will offer consumers near real-time data on water usage for improved management and conservation.

South East Water’s customer leak notifications saved around 683 million litres and customers $2.9 million (during 2023–24) through the identification of potential leaks on customer properties in near real time. The network leak monitoring program, using data from digital meters, enabled over 140 million litres of drinking water to be saved through the early identification and repair of water leaks in South East Water’s network.

Over the years, Avnet has been instrumental in providing South East Water with smart water meters and advanced solutions for remote telemetry trials, as well as tackling technical challenges associated with the integration of new technologies.

Avnet’s comprehensive support covers every step of the product lifecycle, from design to delivery, with deep technical and supply chain expertise. This collaboration with South East Water marks a significant step in Avnet’s journey in the smart water meter sector. It aligns with the company’s broader Internet of Things (IoT) strategy, advancing efforts to create a fully interconnected and sustainable world.

About Avnet

As a leading global technology distributor and solutions provider, Avnet has served customers’ evolving needs for an entire century. We support customers at each stage of a product’s lifecycle, from idea to design and from prototype to production. Our unique position at the center of the technology value chain enables us to accelerate the design and supply stages of product development so customers can realize revenue faster. Decade after decade, Avnet helps its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet at https://www.avnet.com/wps/portal/apac/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240813232522/en/

Media contact:

Priyankita Praharaj

Avnet

priyankita.praharaj@avnet.com

Source: Avnet

FAQ

What contract did Avnet (AVT) secure with South East Water?

Avnet (AVT) secured a contract to supply Huizhong's SCL61H-100 smart ultrasonic water meters for South East Water's Digital Meters program, which is the largest smart meter rollout in Australia.

How much water and money did South East Water's leak detection program save in 2023-24?

South East Water's customer leak notifications saved approximately 683 million liters of water and $2.9 million for customers in 2023-24. Additionally, the network leak monitoring program saved over 140 million liters of drinking water.

What facility has Avnet (AVT) set up to support the smart meter rollout?

Avnet (AVT) has established a dedicated water meter test lab at its Bayswater facility in Melbourne for thorough verification testing to support South East Water's mass rollout of smart meters.

What unique feature do the smart water meters supplied by Avnet (AVT) have?

The smart water meters supplied by Avnet (AVT) feature a proprietary vibration sensor developed and patented by South East Water, enabling accurate network leak detection and pinpointing the exact location of leaks in the network.