July 22, 2008
Telvent Completes the Automatic Electric Meter Installation in Sweden for Vattenfall Company
MADRID, July 22, 2008 (PRIME NEWSWIRE) -- Telvent (Nasdaq:TLVT), the IT company for a sustainable and secure world, announced today the completion, as scheduled, of the "Amrelva" project installation phase, signed with Sweden's Vattenfall company to supply and manage the automatic remote electric meter reading system. During this phase, Telvent acted as main meter supplier by providing 600,000 of the 850,000 total meters, and allowed Vattenfall to bill all of its clients through remote reading of electric consumption.
On June 27th, coinciding with the installation of the last meter, Helene Bistrom, Vice Head of Business Group Nordic of Vattenfall, executed the symbolic connection of the last meter in the Skarholmen neighborhood in the Swedish city of Uppsala. During the ceremony, Ms. Bistrom stressed the importance of this project for Vattenfall as it supports the development of a secure grid as well as additional services for its end clients.
A total of 583,000 households are set to use the automatic remote reading systems started up by Telvent; users are now able to control electric consumption costs at any time from their homes. This real-time technology also enables a reduction in billing errors, and contributes to increase customer satisfaction.
Ignacio Gonzalez-Dominguez, Executive Vice President of Telvent's Energy division, pointed out the significance of this project for Telvent, as it has "enabled us to deliver a basic utility management tool through Telvent's Smart Grid Solution Suite." This solution helps utilities, like Vattenfall, to transform their power grid by making electrical distribution more efficient, economical and secure, in addition to, in this particular case, permitting the electric company to comply with Swedish legislation requirements aimed at reducing energy consumption through performance and demand response.
The operational and maintenance phase, also managed by Telvent since 2006, is to be completed by 2011, with a six-year extension option. The services provided to the Swedish electrical utility to date further reinforce and consolidate the strong alliance established by both companies, and ultimately contribute to optimizing the quality of service offered by Vattenfall to its customers.
Telvent (Nasdaq:TLVT) is a unique global company listed on the NASDAQ Stock Exchange and a component of the CleanTech Index(tm) -- the first, and only, stock market index of leading clean technology ("cleantech") companies.
Telvent, the IT Company for a sustainable and secure world, specializes in high-value-added products, services and integrated solutions in the Energy, Transportation, Environmental and Public Administration industry segments, as well as Global Services. Its innovative technology and proven experience help ensure secure and efficient management of the operating and business processes of the world's leading companies. (www.telvent.com)
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CONTACT: Telvent GIT S.A. Investor Relations Contact Barbara Zubiria +34 902 335599 [email protected] Lucia Domville +1 646 284 9416 [email protected] Communications Department Contact Patricia Malo de Molina +34 954 93 71 11 [email protected]