Itron CEO Joins the GridWise Alliance Grid Infrastructure Advisory Council

Rhea-AI Summary

Itron, Inc. (NASDAQ: ITRI) CEO Tom Deitrich has been appointed to the GridWise Alliance's new Grid Infrastructure Advisory Council (GIAC). This 29-member council aims to enhance U.S. electric grid investment, significantly backed by a $50 billion federal push for modernization. Deitrich, with over 20 years of global operations experience, emphasizes the necessity of investing in the grid to tackle challenges posed by renewable energy and aging infrastructure. Itron has been a GWA member since its inception in 2003, contributing to efforts for a resilient and reliable electric grid.

Positive

• Deitrich's appointment to GIAC highlights Itron's leadership role in grid modernization initiatives.
• The GWA's commitment of at least $50 billion in federal funding could bolster Itron's growth prospects.
• Itron's long-standing membership in the GWA strengthens its position in the electric utility industry.

Negative

• None.

Itron, Inc. (NASDAQ: ITRI), which is innovating the way utilities and cities manage energy and water, announced that GridWise Alliance (GWA) Chair, Gil C. Quiniones has appointed Itron CEO Tom Deitrich to join the GWA’s new Grid Infrastructure Advisory Council (GIAC), which was announced today. The 29-member GIAC supports the Alliance’s call to modernize the U.S. electric power transmission and distribution systems. GIAC and GWA will work with the Biden Administration to address areas where grid modernization benefits the economy and community. The Alliance’s support includes at least $50 billion in U.S. federal spending toward grid modernization.

The council includes leaders from the electric utility industry, environmental groups, labor unions and other interested parties in the public and private sectors. Each member of GIAC brings a diverse background and shares a common goal to address the critical need for electric grid investments. Deitrich joins the GIAC with more than 20 years of experience in global operations and will play a key role on the council in forming a voice on the need for U.S. grid investments.

“I’m honored to be among the distinguished group of industry leaders on the Grid Infrastructure Advisory Council. The important work we will do together is vital to the future of our nation’s critical infrastructure,” said Deitrich. “From the rise of renewables and impacts to grid management to navigating increasingly connected, smarter cities and addressing aging infrastructure, utilities and cities are facing tremendous challenges. Now, more than ever, we need to invest in the grid to ensure our energy future.”

“Member companies like Itron are critical to the Alliance as we shine a spotlight on the electric grid for Congress and the Administration to see how investments in transmission and distribution networks will support a resilient and reliable grid, create good paying jobs and equitable access to affordable electricity,” said Karen Wayland, GridWise Alliance CEO.

Itron has been a member of the GWA since its founding in 2003. The GWA represents the broad and diverse stakeholders that design, build and operate the electric grid. Since 2003, the GWA has been at the forefront of educating key industry stakeholders on the critical need to modernize our nation's electricity system. For more information about the GridWise Alliance, visit: www.gridwise.org.

About Itron

Itron enables utilities and cities to safely, securely and reliably deliver critical infrastructure solutions to communities in more than 100 countries. Our portfolio of smart networks, software, services, meters and sensors helps our customers better manage electricity, gas and water resources for the people they serve. By working with our customers to ensure their success, we help improve the quality of life, ensure the safety and promote the well-being of millions of people around the globe. Itron is dedicated to creating a more resourceful world. Join us: www.itron.com.

Itron^® is a registered trademark of Itron, Inc. All third-party trademarks are property of their respective owners and any usage herein does not suggest or imply any relationship between Itron and the third party unless expressly stated.

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FAQ

What is the significance of Tom Deitrich's appointment to the Grid Infrastructure Advisory Council?

Tom Deitrich's appointment is significant as it places Itron at the forefront of discussions on U.S. electric grid modernization, potentially influencing policies and investments.

How does Itron's involvement with the GridWise Alliance affect its business prospects?

Itron's involvement enhances its visibility and influence in the industry, aligning it with significant investment opportunities in grid infrastructure.

What is the goal of the Grid Infrastructure Advisory Council?

The goal of the GIAC is to modernize the U.S. electric power transmission and distribution systems to support economic and community development.

What financial commitment has the GridWise Alliance made towards grid modernization?

The GridWise Alliance has committed at least $50 billion in U.S. federal spending for grid modernization efforts.

When was Itron established as a member of the GridWise Alliance?

Itron has been a member of the GridWise Alliance since its founding in 2003, contributing to grid modernization advocacy.