CEFC backs intelliHUB’s continued growth
1 March, 2019
The CEFC has increased its financing commitment to intelliHUB to support the continued growth of the smart metering business.
intelliHUB is converting household and business energy meters to smart technology, to give consumers more control over their energy consumption.
The CEFC sees smart metering technology as an essential part of an integrated clean energy system. Smart meters give customers more control over their energy use. They also allow consumers to be better informed when considering investments in solar and energy storage solutions, by matching system specifications to actual consumption patterns.
The CEFC has extended its initial $35 million investment in IntelliHUB to $60 million.
The National Electricity Market includes some nine million metering points. intelliHUB has already deployed 250,000 smart meters, and is targeting one million smart meters in Australia and New Zealand. The company has also secured long-term contracts with energy retailers to support further deployment of the smart meters.
IntelliHUB is an Australian-based metering technology company developed as subsidiary of Landis+Gyr, a global leader in smart metering.
IntelliHUB has received full accreditation from the Australian Energy Market Operator as a Metering Provider, Meter Data Provider and Metering Coordinator.
*The CEFC further extended its commitment to Intellihub in July 2020, with $15 million in new senior debt investment as part of Intellihub’s new $100m new facility arrangement, bringing its commitment to $75 million.
Read our July 2018 media release
Media release, 2019