Semtech’s LoRa® Devices and the LoRaWAN® Standard Serve as “IoT Backbone” of New Vutility Energy Monitoring System

Rhea-AI Summary

Semtech (SMTC) announced a collaboration with Vutility to launch the ‘HotDrop,’ an IoT-enabled energy monitoring solution using LoRaWAN technology. This device allows for real-time circuit-level energy monitoring, improving operational efficiency and reducing energy costs by providing 90% lower total ownership costs compared to competitors. The HotDrop is easy to install with a QR code, self-powered, and maintenance-free, enhancing the energy management landscape. This solution aligns with sustainability initiatives vital for the utilities market.

Positive

• Collaboration with Vutility introduces the 'HotDrop' for real-time energy monitoring.
• Provides 90% lower total ownership costs compared to competing devices.
• Self-powered and maintenance-free installation increases operational efficiencies.

Negative

• None.

Internet of Things (IoT)-enabled ‘HotDrop’ from Vutility provides real-time energy data with LoRaWAN®

CAMARILLO, Calif.--(BUSINESS WIRE)-- Semtech Corporation (Nasdaq: SMTC), a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms, announced its collaboration with Vutility, leading provider of real-time, high-resolution, energy monitoring solutions — enabling businesses to optimize their energy consumption and improve operational efficiencies. Vutility’s ‘HotDrop’ features Semtech’s LoRa® devices and the LoRaWAN® standard to provide real-time, circuit-level energy monitoring of a facility which can help save on electricity costs. The ‘HotDrop’ is very easy to onboard via QR code. Market research firm Frost & Sullivan reported the total cost of HotDrop ownership was 90% lower than competing metering monitoring devices on the market.

Internet of Things (IoT)-enabled ‘HotDrop’ from Vutility provides real-time energy data with LoRaWAN® (Graphic: Business Wire)

“A key challenge we faced when developing the ‘HotDrop’ solution was to identify a wireless IoT standard that was able to communicate out from inside an electrical distribution panel, with similar radio-frequency disruptions to a Faraday cage, and through multiple dense walls and floors of buildings,” said Micheal Austin, chief technology officer for Vutility. “The long-range transmission capability of LoRaWAN was able to meet and even exceed expectations for ‘HotDrop’ to maintain wireless, real-time transmission signals to the Cloud. Leveraging LoRaWAN was ideal for us to scale the ‘HotDrop’ solution.”

‘HotDrop’ from Vutility is self-powered, non-intrusive, and completely battery- and maintenance-free. Once installed, there is no need to open-up the panel again for service. In addition, the solution was designed to be “instantaneous” to install, without requiring the facility to de-energize. The installation of a “HotDrop” is a “snap”, with a simple QR code scan for onboarding through an Android or iOS device and wireless clip closure around the monitored circuit. The implementation of LoRa devices (SX1272) and LoRaWAN serve as the “IoT backbone” of the solution, delivering actionable real-time, circuit-level data via application programming interface (API) to any end application. The minute-by-minute relay of data benefits users to monitor their electricity usage in real time, potentially saving on costs.

“The flexibility of LoRaWAN provides a robust connectivity option that complements other technologies, especially in the utilities market,” said Marc Pégulu, vice president of IoT product marketing and strategy for Semtech’s Wireless and Sensing Products Group. “Vutility’s ‘HotDrop’ solution smartly employs LoRaWAN to produce efficient energy usage while also meeting sustainability initiatives important to the smart utilities and metering industries today.”

To learn more about Vutility’s ‘HotDrop,’ please visit here.

For more smart utilities use cases leveraging Semtech’s LoRa devices, please visit here.

About Semtech’s LoRa® Platform

Semtech’s LoRa device-to-Cloud platform is a globally adopted long range, low power solution for IoT applications, enabling the rapid development and deployment of ultra-low power, cost efficient and long range IoT networks, gateways, sensors, module products, and IoT services worldwide. Semtech’s LoRa technology provides the communication layer for the LoRaWAN® standard, which is maintained by the LoRa Alliance®, an open IoT alliance for Low Power Wide Area Network (LPWAN) applications that has been used to deploy IoT networks in over 170 countries. With the proliferation of LoRa devices and the LoRaWAN standard, the LoRa Developer Portal is a place to learn, connect, collaborate, and find resources to help accelerate your LoRa development process. Semtech is a founding member of the LoRa Alliance. To learn more about how LoRa enables IoT, visit Semtech’s LoRa site.

About Vutility, Inc.

Vutility was founded in 2016 with a vision to change the way the world works through data that matters. With our proprietary IoT sensors and data services, we provide scalable, cost-effective real-time visibility into energy and utility usage, enabling leading global organizations to deliver innovative and disruptive building and energy management solutions. Our go-to-market strategy is B2B2B through partners who are leading providers of energy and building management services across a wide variety of industries, including energy efficiency, measure and verify (M&V) audits, demand response (DR), sustainability, building automation, critical equipment monitoring and optimization and more. Key commercial partners and investors include Engie, Chevron, Constellation, MachineQ, MyDevices, CalChip Connect, and Logical Buildings. Visit Vutility.com to learn more.

About Semtech

Semtech Corporation is a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms for infrastructure, high-end consumer and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The Company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the NASDAQ Global Select Market under the symbol SMTC. For more information, visit www.semtech.com.

Forward-Looking and Cautionary Statements

All statements contained herein that are not statements of historical fact, including statements that use the words “designed to” or other similar words or expressions, that describe Semtech Corporation’s or its management’s future plans, objectives or goals are “forward-looking statements” and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of Semtech Corporation to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Such factors are further addressed in Semtech Corporation’s annual and quarterly reports, and in other documents or reports, filed with the Securities and Exchange Commission (www.sec.gov) including, without limitation, information under the captions “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors.” Semtech Corporation assumes no obligation to update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release, except as required by law.

Semtech, the Semtech logo and LoRa are registered trademarks or service marks of Semtech Corporation or its affiliates.

SMTC-P

View source version on businesswire.com: https://www.businesswire.com/news/home/20220324005087/en/

Linh Dinh

Semtech Corporation

(805) 250-1263

ldinh@semtech.com

Source: Semtech Corporation

FAQ

What is the HotDrop announced by Semtech (SMTC)?

The HotDrop is an IoT-enabled energy monitoring solution developed in collaboration with Vutility, offering real-time circuit-level monitoring using LoRaWAN technology.

How much lower are the ownership costs of the HotDrop compared to competitors?

The total ownership costs of the HotDrop are reported to be 90% lower than competing metering devices.

What technology does the HotDrop utilize?

The HotDrop utilizes Semtech's LoRa devices and the LoRaWAN standard for providing real-time energy data.

What are the benefits of using the HotDrop for energy monitoring?

The HotDrop enhances operational efficiencies, reduces electricity costs, and is designed for easy, instantaneous installation without requiring facility de-energization.